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Economics / Business

Economics / Business

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Economics introduces core concepts of scarcity, demand and supply, market equilibrium, and elasticity. Students examine causes of market failure, externalities, and government intervention in markets. The course builds skills in evaluation, application of theory, and critical analysis of real-world economic problems.

Business Studies develops understanding of organizational structures, objectives, and operations. Students learn about marketing, human resource management, finance, and production processes. Through case studies, they apply concepts like motivation theories, financial planning, and corporate social responsibility to practical business scenarios.

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Description

Topics

Economics

Unit 1: Basic Economic Problem

  • 1.1: Scarcity & Opportunity Cost
    1.2: Factors of Production (land, labour, capital, enterprise)
    1.3: Production Possibility Curves (PPCs)
    1.4: Specialization & Division of Labour

Unit 2: Microeconomics

  • 2.1: Demand & Supply (law, curves, shifts, elasticity)
    2.2: Price Determination (equilibrium, shortages, surpluses)
    2.3: Price Elasticity of Demand & Supply (PED, PES)
    2.4: Market Structures (perfect competition, monopoly, oligopoly)
    2.5: Costs, Revenues & Profits
    2.6: Economies & Diseconomies of Scale

Unit 3: Macroeconomics

  • 3.1: Economic Growth & Development (GDP, HDI, sustainability)
    3.2: Inflation & Deflation (measurement, causes, effects)
    3.3: Unemployment (types, causes, consequences)
    3.4: Government Policy:
  • Fiscal Policy (taxation, government spending)
  • Monetary Policy (interest rates, money supply)
    3.5: Role of Government in Economy (regulation, subsidies, welfare)

Unit 4: International Economics

  • 4.1: International Trade (benefits, problems, protectionism)
    4.2: Balance of Payments
    4.3: Exchange Rates (fixed vs floating)
    4.4: Globalization (advantages, disadvantages, developing economies)

Business Studies

Unit 1: Business Activity & Organization

  • 1.1: Purpose of Business Activity (needs, wants, adding value)
    1.2: Types of Business Organizations (sole traders, partnerships, companies, cooperatives, franchises)
    1.3: Public vs Private Sector Enterprises
    1.4: Business Objectives (profit, growth, survival, social goals)
    1.5: Stakeholders & Conflict of Interest

Unit 2: Business Finance

  • 2.1: Sources of Finance (short-term, long-term, internal, external)
    2.2: Costs, Revenues & Profits
    2.3: Break-Even Analysis
    2.4: Cash Flow Forecasting & Working Capital
    2.5: Simple Financial Statements (profit & loss, balance sheet basics)

Unit 3: Marketing

  • 3.1: Market Research (primary, secondary, sampling methods)
    3.2: Market Segmentation & Targeting
    3.3: Marketing Mix (4Ps – product, price, place, promotion)
    3.4: Branding, Packaging & Product Lifecycle
    3.5: E-commerce & Digital Marketing

Unit 4: Human Resource Management

  • 4.1: Recruitment & Selection (methods, processes)
    4.2: Training & Development
    4.3: Motivation Theories (Maslow, Herzberg, Taylor)
    4.4: Organization Structure (hierarchies, span of control, communication)
    4.5: Employer-Employee Relations (contracts, trade unions, disputes)

Unit 5: External Environment & Ethics

  • 5.1: Multinational Corporations (MNCs)
    5.2: Globalization – impact on businesses and consumers
    5.3: Business & the Environment (pollution, sustainability, resource use)
    5.4: Business Ethics (CSR, fair trade, workers’ rights, corruption)
    5.5: Government & Legal Influences (minimum wage, consumer protection, health & safety)

 

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