- Describe and evaluate basic principles and concepts of economic theory as outlined in academic literature and their practical application to the business environment
- Analyse decision making processes and solve business problems relating to costs, output, prices and profit
- Analyse competition, business behaviour and the effects of changes in market conditions on industries and firms
- Demonstrate an understanding of markets and their limitations in allocating resources
- Demonstrate an understanding of the main mechanisms by which governments manage and/or intervene in the macro economy and how these impact on business
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