Business Economics Course

Diploma in Business Economics - Level 3

This Diploma in Business Economics at QLS Level 3 is what you need to up your knowledge and skills in business. This course will focus on the economics aspect of business to help you analyse organisations, the factors that determine the diversity of organisations and the relationship of firms with labour, capital and product markets, and is ideal if you wish to get into or progress in the corporate or economics industry.

This business economics course will get you into terms with the fundamental essentials of business economics such as demand, supply, economies of scale, price elasticity of demand and supply and many more. You will also get to explore the various types of markets available in an economy such as monopoly, oligopoly and perfect competition, after which you will be taught on how to anticipate market outcomes.

Once you get a good grip on the essentials of economics, you will understand how to put them all together to understand market situations and its impact on the economy. The other topics such as foreign exchange rates, income and monetary policies, trade cycle, investment appraisal and others will also be adequately covered through this program, followed by modules that will guide you on the regulation of markets.

The Quality Licence Scheme, endorses high-quality, non-regulated provision and training programmes. This means that Imperial Learning Ltd* has undergone an external quality check to ensure that the organisation and the courses it offers, meet defined quality criteria. The completion of this course alone does not lead to a regulated qualification but may be used as evidence of knowledge and skills gained. The Learner Unit Summary may be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this subject. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Quality Licence Scheme, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner.

The course itself has been designed by Imperial Learning Ltd* to meet specific learners’ and/or employers’ requirements which cannot be satisfied through current qualifications. Quality Licence Scheme endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.

This course has been endorsed by the Quality Licence Scheme for its high-quality, non-regulated provision and training programmes. This course is not regulated by Ofqual and is not an accredited qualification. We will be able to advise you on any further recognition, for example progression routes into further and/or higher education. For further information please visit the Learner FAQs on the Quality Licence Scheme website.

*South London College is an approved reselling partner for Quality Licence Scheme courses under Imperial Learning Ltd

Why study at South London College?

South London College offers the most convenient path to gain skills and training that will give you the opportunity to put into practice your knowledge and expertise in an IT or corporate environment. You can study at your own pace at South London College and you will be provided with all the necessary material which includes Free CV writing pack to make your learning experience enriching and rewarding.

Certificate of completion

Digital certificate - Included

Diploma in Business Economics at QLS Level 3

Digital certificate - Included

What Will I Learn?

• Understand the fundamental essentials of business economics.
• Learn about the types of markets and how to anticipate market outcomes.
• Understand supply, demand and equilibrium and how it impacts the economy.
• Gain an understanding of foreign exchange rates and the foreign markets.
• Understand that economics is about making a choice, and it is not always about money.
• An academic qualification will enable learners to have the confidence in their skills in their field of study and apply practical knowledge in their job position.

COURSE CURRICULUM

★ MODULE 01 : Business Organisations

• Economics, the micro and the macro!
• Types of business organisations

★ MODULE 02 : Shareholders And Shareholders Wealth

• Stakeholders
• Stakeholders wealth

★ MODULE 03 : Demand And Supply

• Introduction
• The market
• Demand
• Factors influencing demand
• Giffen and Veblen goods
• Supply
• Factors affecting supply
• Equilibrium price

★ MODULE 04 : Price Elasticity Of Demand And Supply

• Introduction
• Price elasticity of demand
• Price elasticity and the demand curve
• Uses of price elasticity of demand
• Factors influencing price elasticity of demand
• Price elasticity of supply

★ MODULE 05 : Types Of Market

• Impact of costs on business and markets
• Outsourcing
• Outsourcing: structures of businesses
• Transaction cost theory
• Alternatives to outsourcing

★ MODULE 06 : Economies Of Scale

• Economies of scale
• Long run/Short run
• Diseconomies of scale
• Implications and outcomes

★ MODULE 07 : Regulation Of Markets

• Economic systems
• Monopolies
• Competition policy
• Inappropriate market price: too high or too low
• Externalities
• Public goods
• Environmental concerns

★ MODULE 08 : Income And Monetary Policy

• Microeconomics vs macroeconomic
• The circular flow of money
• Savings and investments
• Imports and exports
• Money
• Consumption

★ MODULE 09 : The Trade Cycle

• Circular flow review
• Circular flow equilibrium
• The accelerator
• The multiplier
• Trade cycle
• Employment
• Inflation

★ MODULE 10 : Supply And Demand Model

• Aggregate demand
• Aggregate supply
• Equilibrium
• Economic growth

★ MODULE 11 : Global Trade

• Globalisation and internationalization
• Benefits of international trade
• The drivers of international trade and globalization
• Disadvantages of international trade
• Protectionism
• Trade agreements and trading blocks
• Major institutions promoting global trade
• The impact of globalization

★ MODULE 12 : Foreign Exchange Markets And The Exchange Rate

• The exchange rates
• The international currency market
• Government policy and balance of payments
• Problems with government policies
• Types of foreign exchange risk
• PESTEL

★ MODULE 13 : The Financial System

• Fund requirements
• The financial system
• Financial Instruments

★ MODULE 14 : Financial Intermediaries

• Types of intermediaries
• Credit creation
• Government funds and the central bank

★ MODULE 15 : Financial Markets

• Types of financial markets
• Calculating the return on financial instruments
• Interest rates
• Interest rate risk

★ MODULE 16 : Investment Appraisal

• Choosing how to invest
• The time value of money
• Discounting
• Net Present value
• Annuity
• Perpetuities
• Internal rate of return

★ MODULE 17 : Data And Information

• Data and information
• Types of data
• What makes good data/good information
• Sources
• Big Data
• Graphs

★ MODULE 18 : Trends, Forecasts And Patterns

• Introduction
• Time series analysis
• Adjusting the trend line
• Forecasting a trend line using linear regression
• Variances around the trend line

★ MODULE 19 : Moving Averages

• Introduction
• Moving averages

★ MODULE 20 : Index Numbers

• Introduction
• Single product index
• Weighted index
• Index splicing
• Quantity indices
• Retail price index (RPI)

Access Duration

The course will be directly delivered to you, and you have 12 months access to the online learning platform from the date you joined the course. The course is self-paced and you can complete it in stages, revisiting the lectures at any time.

Method of Assessment

In order to complete the Diploma in Business Economics at QLS Level 3 successfully, all students are required to complete a series of assignments. The completed assignments must be submitted via the online portal. Your instructor will review and evaluate your work and provide your feedback based on how well you have completed your assignments.

Certification

Those who successfully complete the course will be issued the Diploma in Business Economics at QLS Level 3 by the Quality Licence Scheme.

Course Code: QLS-04480

Awarding Body (Accreditation)

The Quality Licence Scheme is part of the Skills and Education Group, a charitable organisation that unites education and skills-orientated organisations that share similar values and objectives. With more than 100 years of collective experience, the Skills and Education Group’s strategic partnerships create opportunities to inform, influence and represent the wider education and skills sector.

The Skills and Education Group also includes two nationally recognised awarding organisations; Skills and Education Group Awards and Skills and Education Group Access. Through our awarding organisations we have developed a reputation for providing high-quality qualifications and assessments for the education and skills sector. We are committed to helping employers, organisations and learners cultivate the relevant skills for learning, skills for employment, and skills for life.

Our knowledge and experience of working within the awarding sector enables us to work with training providers, through the Quality Licence Scheme, to help them develop high-quality courses and/or training programmes for the non-regulated market.

• Economists and Entrepreneurs
• Business owners
• Business Consultants
• Professional learners, undergraduate students, statistics students

• Learners should be age 19 or over, and must have a basic understanding of Maths, English, and ICT.
• A recognised qualification at level 2 or above in any discipline.

• Business Consultant – £38,135 per annum
• Small Business Owner – £27,871 per annum
• Small Business Operator – £27,871 per annum
• Economist – £35,620 per annum
• Economic Development Manager

Others jobs you can get

• Entrepreneur