Economics studies the allocation of scarce resources within an economy to satisfy consumers’ needs and wants.
The course is subdivided into:
* Microeconomics dealing with individual consumers and producers, analysing the interaction of supply and demand in the market place.
* Macroeconomics examines the major economic variables: national income, foreign trade, exchange rates and inflation
This subject provides an understanding of the environment in which business operates by:
* Analysing the relationship between the stakeholders in business and the resolution of conflict.
* Providing an insight into enterprise and management
* Examining the development of a new good or service from concept development to commercialisation
* Explaining the changing role of management
* Exploring the organisation of business both domestically and intentionally
* The recording, presentation and interpretation of financial information.
* The preparation of Business Final Accounts, Cash Flow Statements, Published Accounts and Accounts from Incomplete Records.
* The role of Management Accounting is examined.
* The preparation of accounts for non-profit making organisations.
* The analysis of financial records.
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