Course: Economic Environment of Business

Course Code: BUS605

This course is intended to raise the awareness of participants about the economic environment in which businesses and all organisations operate today, and to give them the theoretical construct within which to make many of the key economic decisions facing the contemporary leader within the public and private sector.

A foundation in the traditional construct of micro-economics and macro-economics having to do with government policies, the behaviour of markets and the like is essential but not enough. Economists addressing the micro-economic environment analyse the functioning of individual markets and industries and the behaviour of individual decision making units.

Economists observing the macro environment deal with the economic behaviour of aggregate factors, both national and international, influencing all decision-making. In analyses of government policy affecting business, two questions arise: “What should the role of Government be?” and “What factors explain the actual conduct of government?” This course seeks to guide students in answering these pertinent questions.

The course is also designed to capture the essential economic consideration of starting and operating a 12 Commonwealth Executive MBA /MPA Programmes in Jamaica business, the economic environments within which business operates, and could be useful for students in other specialties.