Introduction to Economics
The course gives you an introduction to key economic concepts, models and management tools. You will also gain an understanding of specific finance-related issues that you may encounter in a business and in society in general.
Content:
- Central economic concepts and economic reasoning.
- Supply and demand theory.
- Business’ financial statements.
- Principles and methods of product calculation.
- Profitability analysis.
- Planning and budgeting.
Knowledge
- Basic knowledge of costs, revenues and profitability in enterprises.
- Basic knowledge of accounting and budgeting in enterprises.
- Basic knowledge of product calculation in different types of enterprises.
- Basic knowledge of the difference between business and socio-economic profitability
Skills
- Explain, and define, key economic concepts.
- Conduct analyses to find the optimal price and production quantity in an enterprise.
- Carry out product calculations in different types of enterprises.
- Conduct simple analyses of an enterprise's financial statements.
- Conduct a simple investment analysis.
- Use spreadsheets to conduct financial analyses
General competence
- Use central economic concepts when communicating economics-related issues in enterprises in particular and in society in general.
- Discuss the importance of the financial function in enterprises and discuss how financial management of an enterprise should be conducted.
- Discuss ethical challenges in the exercise of financial management in enterprises.
3 assessment tasks must be approved in order to take the school exam.
School exam, 5 hours. Comprises 100% of the grade.Grading scale: letter grades A-F.
Overlap refers to a similarity between courses with the same content. Therefore, you will receive the following reduction in credits if you have taken the courses listed below:
ECO1002 - Business Economics with Relevant Computer Software - 5 credits
ECO1014 - Business Economics - 5 credits
REG1003 - Agricultural Accounting - 2.5 credits