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ECP5705 Economics of Business Decisions Syllabus

Unit Name: ECP5705 economics of business decisions syllabus

Any company is, at its core, a form of financial activity. Economics is considered one of the most crucial branches that deal with the analysis of financial activity. Economical paradigms related to commercial sectors appear to be the offspring of ordinary business life.   As a result, economics is primarily concerned with comprehending life's central concern. Business economics, on the other hand, is the study of economics as it applies to management decisions. In its fundamental definition, business economics is the combination of economic proposals with business practice. In actual scenarios of business decision-making, the situations are much different from the theoretical considerations. It is important for the students who are looking to earn a comprehensive professional career in the field of management specifically in the sector where business decision and financial analysis is required, to apprehend the fact that multiple factors help a business to operate. lack of certainty due to dynamic changes is extremely common. Economic theories and analysis will help them get a clear solution regarding the business problems that organizations are currently facing.

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This particular course will assist the students in attaining relevant knowledge regarding the fundamental concepts and theories related to commercial firms and their strategic and functional decisions. It is important for the students enrolled within this background of study to know how business decisions are made and why financial aspects or economical perspectives are given a priority. This course will also cover certain topics which help the students learn about how business decisions are made and what resources commercial organizations utilize for making smart and strategic decisions. Precisely, this course will provide more emphasis on four crucial foundations that are maintained by the senior management team or every organization providing service to their respective target audiences. The theoretical concepts covered within this course will also ECP5705 assignment answers help the students understand how companies operate in the market even though other competitors have the same sector of consumers. The four theoretical concepts that will be covered within this course are:

  • Theoretical concepts and analytical paradigms related to business firms and their respective ways of commercial operation.
  • Market opportunities, and competitions.
  • How organizations make or gain their competitive strategy through effective analysis of several factors.  

Unit Details:

Location: USA, Florida

Study Level: Postgraduate

Unit Code: ACC03043

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Brief ECP5705 Assessment

The ultimate purpose of this course is to let the learners understand and provide them with an analytical foundation such that they attain the ability to make economically dominated managerial solutions. This course will significantly let them be more productive once they step onto their professional career. For the development of strategic skills, the students need to be initially assessed according to their ability to analyze a situation or a commercial complexity. Subsequently, through the progress of this course, the learners will get to know the skills required for analyzing and apprehending the basic concepts or ideas behind entrepreneurship and value creation. Aspects of change management and dynamic shifts towards technologies have made every organization achieve significant productivity and efficiency but the lack of capabilities regarding potential decision making is hurting them. To ensure that the students understand and mitigate this complexity in their future, the course will also cover certain topics and assignments that will require the students to underlay the recognition of market opportunities.

ECP5705 assessment answers will also be done based upon how the learners are showing progress in terms of creating suitable and accurate organizational structures, and how they handle the competitive dynamics of the market. Throughout this entire course, the basic notions of commercial firms will also be explored such that every student prevails the ability to establish a range of tools that are necessary for implementing strategic decisions. Competitive advantage is the key for any organization, hence the entire completion of this ECP5705 task answers will also make the students learn every skill alongside the ability to think analytically for creating effective decisions for organizations they will work in the future such that their firm upholds the competitive advantage.

The learning outcomes of this course are mentioned below:

  • Upon completion of all the course materials and relevant assignments, the students will develop the skills required for strategic decision making and also learn the importance of analysis and understanding of the business complexity.
  • Upon completion of all the course materials and relevant assignments, the students will be able to take effective decisions baes upon all the parameters associated with financial management and economical resources of the respective organization they will be working with.
  • The students will also learn about the microeconomic principles so that they can develop competence with the analytical tools that are accessible.

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Weightage of the ECP5705 Course

The entire course will cover 20% marks out of the entire percentage allocated for the semester. This is one of the most important courses that students need to understand and complete subsequently as this is a mandatory unit that they need to complete. The assessor will evaluate every student through assignments that will be based upon the theories and concepts shared in the class. All of the exams will be “Take Home” exams. There will be two exams in total and each one of them will comprise of 30% grade out of this entire course unit.

The second exam will involve the aspects of the development and analysis of a hypothetical business venture. There will be a case study of a selected organization, the assignment requires the student to understand the business complexity the respective organization is facing and they need to analyze every finding for getting accurate results. Lastly, the students need to create a strategic business decision for the firm such that they can mitigate the issues. After the exams are completed one final assignment will be provided to the students who will pass the previous exams and that will also contain 30% of the entire unit grade. This assignment will be based upon the summaries and concepts related to economics and financial management associated with business decisions. Students need to go through all the theories and then summarize them into a single document.

The distribution of your semester grade is as follows:

Two Exams (@30% each) = 60%

Summaries = 30%

Participation = 10%

Total = 100%

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