The Economic Analysis for Business online unit from RMIT University and Open Universities Australia will introduce you to the key issues within economics and provide you with the tools needed to analyse economic changes and policies. You will attain an understanding of the economy that can be applied to major business decisions.
The first section of the unit introduces the basic issues of economics, the interaction of demand and supply, and the role of various factors within the economy. The second section introduces some of the tools of microeconomic analysis and looks at how these tools can be applied to better understand practical problems of business.
The final section looks at the macroeconomy. You will be taught how major economic aggregates are constructed and introduced to the core tools of macroeconomic analysis. You will come away with tools that you can use to analyse economic policy and this information can be used to analyse the practical problems that businesses face.
Applicants must meet the following criteria to be eligible to enter this program:
Be accepted into the Master of Professional Accounting
Areas of study
In this Economic Analysis for Business unit, the topics you will study include:
The economics of the free market
Value added and the role of government
Factors of production, finance and the entrepreneur
Supply and demand
Measuring the economy
History of economics and the Keynesian revolution
Modern macroeconomic analysis
The theory of the business cycle
Money, credit and inflation
This unit is a core requirement in the following course:
Master of Professional Accounting, RMIT University
Content may also be relevant to other courses, and could qualify you for Recognition of Prior Learning (RPL) for a course offered by another institution.
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Want more information about this unit? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.
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This online Economic Analysis for Business unit from RMIT University offers a comprehensive introduction to economics and economic theory for students planning a career working in business, finance or economics.
The first part of this unit will teach you about microeconomics. Understanding microeconomic theory will give you insight into how businesses operate and what factors determine performance. If you are planning a career in which you work closely with a wide variety of businesses, this unit will offer you a very broad understanding of economic theory that can be applied to companies across many industries. This will help you to understand your clients better and improve your decision-making abilities.
The second part of this unit focuses on macroeconomics. This part of the unit will teach you how the performance of the economy is measured, about the business cycle and about the various theories that explain the performance of the economy. Understanding the broad trends affecting business is important and this unit provides you with the necessary tools to forecast the performance of companies and also provide some critical insight into how economic policy might affect the performance of client companies.
Overall, this unit will teach you the fundamentals of economics which will help you make better decisions, both for yourself and for business.
How else will I benefit from this unit?
Upon successful completion of this unit you will receive credit for competencies in Economic Analysis for Business from RMIT University.
Studying online means you can study where you want, at your own pace.
Gain industry-relevant skills and transferable knowledge.
Government financial support through FEE-HELP may be available.
Studying single units allows you the flexibility to work towards a qualification at your own pace.
Receive Recognition of Prior Learning (RPL) for this unit across a number of OUA's full degree programs.
Get more information
Want more information about the career benefits of this unit? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.
If you are an Australian citizen, you may be eligible to receive a government FEE-HELP loan, meaning you can defer payment of your fees.
Get more information
Want more information about financial and student support? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.
You may be eligible to receive FEE-HELP for this course!
This course can be paid for through the FEE-HELP government loan scheme. If you are an Australian citizen or hold a permanent humanitarian visa, this means you don’t need to pay upfront.
Instead, the Australian government will pay your course fees on your behalf. You’ll begin repaying your loan through the tax system once you start earning more than the minimum threshold of $54,869 (2016-17 income year).
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