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Business Economics Professional «

Business Economics Professional

Description

What is economics about? Economics is the problem of using the available resources as efficiently as possible so as to achieve the maximum fulfillment of society’s unlimited demand for goods and services. The ultimate purpose of economic endeavor is to satisfy human wants for goods and services.

The problem is that whereas wants are virtually without limit, the resources – natural resources, labor and capital (machinery) – available at any one time to produce goods and services are limited in supply. Resources are scarce. This fact of scarcity means that we must always be making choices about what to produce, how to produce it and for whom.

Decisions must be made so that these scarce resources are allocated optimally or efficiently to their end use. This implies they could not be used more beneficially elsewhere. This is the criterion economists use to judge many economic phenomenon and is the focus of our study of the economic approaches to organizations.

Topics in this course include:

•Perspectives on the Economic Approaches to Organization
•Co-ordination through the Market Mechanism
•Organizational Co-ordination
•Information and Co-ordination Mechanisms
•Game Theory
•Agency Theory
•Transaction Cost Economics

Outcomes

On completion of your course, you will receive two qualifications:

Business Economics Professional Diploma

Business Economics Professional Diploma issued by Stonebridge Associated Colleges, entitling you to use the letters SAC Dip after your name.

NCFE Level 4 Business Economics Professional Award

This Course leads to an NCFE Level 4 Award Certificate for successful learners. That means that it is independently accredited at a level of learning equivalent to level 4 on the National Qualifications Framework (NQF) for England, Wales and Northern Ireland (in which case GCSE’s are at levels 1 and 2 and A Levels are at level 3). In accrediting the program at level 4, NCFE attests that its learning outcomes are at an equivalent level to a level 4 national qualification.

This award has been designed by Stonebridge Associated Colleges to meet specific learners’ or employers’ requirements. Accreditation by NCFE is a guarantee of quality. It means that this learning program has been scrutinized and approved by an independent panel of experienced educational professionals and is quality audited biannually by NCFE.

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