Business Economics gives you the theoretical foundations of the subject, with a focus on business costing, pricing and inventory costs. You learn to interpret financial reports, including key ratios, and to make full cost calculations and different types of budgets. The course deepens your understanding of economic conditions and trends, and emphasises the importance of optimising profitability for both the customer and your own company.
The purpose of the course is to provide the theoretical foundations of business economics. The student gains knowledge of business costing, pricing and inventory costs, and insight into methods for evaluating the customer's financial circumstances. The student shall interpret financial reports, including key ratios, draw up a full cost calculation and have knowledge of different types of budgeting. The course provides in-depth knowledge of economic conditions and trends, and an understanding of the importance of optimising profitability for both the customer and the company itself. The aim of the course is for the student to understand the importance of good financial control in the sales process.
The purpose of the course is to provide the theoretical foundations of business economics. The student gains knowledge of business costing, pricing and inventory costs, and insight into methods for evaluating the customer's financial circumstances. The student shall interpret financial reports, including key ratios, draw up a full cost calculation and have knowledge of different types of budgeting. The course provides in-depth knowledge of economic conditions and trends, and an understanding of the importance of optimising profitability for both the customer and the company itself. The aim of the course is for the student to understand the importance of good financial control in the sales process.
The basics of business costing, pricing and inventory costs.
Reading and interpreting financial reports and key ratios.
Drawing up and applying full cost calculations in practice.
Different types of budgeting and their uses.
Economic conditions, trends and profitability optimisation.
The course is aimed at students in TUC's YH programmes who need basic knowledge of business economics as part of their future professional role, for example in sales.
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