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Business economics

No explicit knowledge of the economy or economics is presupposed.

Flexibility offered with scheduling to accommodate those with full-time jobs.

Short courses that build on this course: Financial markets, Business cycles

Aim of the course

The course aims to equip participants with an alternative, more real-world, economics training than that provided by most Universities. This will be done in the context of a demystification of the economics taught in higher education, and an unpacking of what are perceived to be problems with the standard economics texts used in the teaching of economics courses from secondary school onwards.

The aim of the exercise is to showcase the way in which the alternative approach can provide a more plausible and informed explanation of current trends in economic phenomena than what is taught in the Universities.

With this in mind, the last part of the course is dedicated to a case study of the Sri Lankan economy using the alternative approach. Time is set aside for discussions of differences in the implications for business and investment decision-making arising from the alternative approach as compared with those arising from what is found in standard textbooks and courses based on these.

Benefits of following the course

  • Understand the most important economic indicators that require their attention when attempting to understand the dynamics of the global and Sri Lankan economies.
  • Make sense of the array of competing explanations of those economic phenomena that are seen as important for business and investment decision-making.
  • Appreciate the significance of global and domestic policy making for the health and well-being of the global and domestic economic environments.
  • Get a sense of the general direction in which the global and domestic economies are headed with the aid of readily understandable charts and tables.

Who is the course for?

The target group is those lower and middle level executives that are aware of the importance of an understanding of real-world economic trends and developments for their decision-making, but have not had the necessary background for developing this understanding. This includes both those who have followed formal economics and business related study programmes at secondary and tertiary education levels, as well as those who have had no formal training in either of these.

The only requirement for following the course is a desire to learn something of practical relevance, and using one’s own common-sense and logic to do so.

Formats

12H

  • 12 hours of training time
  • Spread over 1-2 weeks

24H

  • 24 hours of training time
  • Spread over 2-4 weeks

Course trainer

Dr Howard Nicholas is our senior trainer and will conduct this short course.

Course programme

Part 1

Conceiving and explaining economic phenomena in general.
Explaining product market phenomena.

Part 2

Conceiving and explaining investment and employment.
Explaining the determination of profit margins, interest rates and wage rates.

Part 3

Important macroeconomic phenomena for decision-making.
Explaining the determinants of key trend and cyclical macroeconomic phenomena.

Part 4

The global economy.
The Sri Lankan economy.

Download the full course outline: