Business Economics introduces the main principles of economics and their
application in a business context. In microeconomics it covers the operation of single markets, market price and output determination, decisions made by consumers on allocating their budget and by producers on price and output, and different types of market structures and the implication of each for social welfare. In macroeconomics candidates will gain knowledge of the working of the economic system, governments’ macroeconomic objectives, unemployment, inflation, economic growth, international trade and financial systems and financial crises.
This subject equips the students with knowledge of the main principles of economics and their application in a business context.
It is 3 hours and 20 mins-based assessment.
In the CB2 subject, the approximate split of assessment across the three skill types is 40% Knowledge, 45% Application and 15% Higher Order skills.