Global Learning for Operational Leaders
Professional training course
Economics for Business Professionals
Economic decisions lie at the heart of business. Consequently, they are fundamental to its success. The outline covers The firm and its goals, Demand estimation and forecasting techniques, Estimation of cost, pricing, an...
Introduction
Course overview
Why Attend
Economic decisions lie at the heart of business. Consequently, they are fundamental to its success. This course will allow business professionals to apply fundamental economic principles to real-world business challenges. Participants will gain knowledge and skills needed to craft successful business strategies. They will also learn how to analyze and assess the micro and macro environment in which their business operates in order to drive critical business decisions.
Course Methodology
On this course, participants will be able to interact with instructor, view slides, participate in group discussions, and complete team exercises and case studies.
Course Objectives
By the end of the course, participants will be able to:
- Interpret economic knowledge and establish the economic objectives of their firm
- Estimate demand and analyze how demand elasticity affects revenues
- Estimate cost and use different pricing strategies for a variety of market structures
- Analyze the impact of essential macroeconomic indicators on the firm’s strategic decisions
- Understand the implications of government economic policies on the economy in general and on businesses in particular
Target Audience
Managers, business professionals, and individuals who have decided to explore how good economic decision making is fundamental to the success of business.
Target Competencies
- Economic reasoning and analysis
- Strategic thinking
- Micro and Macroeconomics
- Problem-solving and decision-making
What you will achieve
Learning objectives
- Interpret economic knowledge and establish the economic objectives of their firm
- Estimate demand and analyze how demand elasticity affects revenues
- Estimate cost and use different pricing strategies for a variety of market structures
- Analyze the impact of essential macroeconomic indicators on the firm’s strategic decisions
- Understand the implications of government economic policies on the economy in general and on businesses in particular
Who should attend
Target audience
- Managers, business professionals, and individuals who have decided to explore how good economic decision making is fundamental to the success of business.
- Target Competencies
- Economic reasoning and analysis
- Strategic thinking
- Micro and Macroeconomics
- Problem-solving and decision-making
Methodology
Learning approach
- On this course, participants will be able to interact with instructor, view slides, participate in group discussions, and complete team exercises and case studies.
Course content
Course outline and key learning areas
Module 1
The firm and its goals
- The economic goal of the firm and optimal decision making
- Goals other than profit
- Economic goals
- Economic objectives
- Noneconomic objectives
- Maximizing the wealth of stockholders
- Market Value Added (MVA)
- Economic Value Added (EVA)
- Economic profits
- Global application
Module 2
Demand estimation and forecasting techniques
- Demand elasticity and the revenues of a firm
- Price elasticities of several industries
- Economics in practice: ‘Elasticities at a Delicatessen in the Short Run and Long Run’
- Demand estimation
- Regression analysis application
- Forecasting techniques
- Expert opinion
- Opinion polls and market research
- Surveys of spending plans
- Economic indicators
Module 3
Estimation of cost, pricing, and output decisions
- The importance of cost in managerial decisions
- The definition and use of cost in economic analysis
- Examples of ways companies have cut costs to remain competitive
- Cautionary note about the use of cost-cutting as a strategy
- Pricing and output decisions: Perfect competition and monopoly
- Pricing and output decisions: Monopolistic competition and oligopoly
- Special pricing practices
- Break-even analysis (Volume-Cost-Profit)
Module 4
Macroeconomic indicators and the firm’s strategic decisions
- The importance of the business cycle to businesses
- Economic growth and its positive effects
- Factors affecting the economy and the firm
- Inflation
- Interest rates
- Unemployment
- Exchange rates
- Exchange rates effects on imports, exports, and real GDP
Module 5
The effects of government economic policies on businesses
- The way fiscal policies affect businesses
- Expansionary fiscal policy
- Contractionary fiscal policy
- The way monetary policies affect businesses
- Expansionary monetary policy
- Contractionary monetary policy
- The effect of public debt on the economy and businesses
- The balance of trade and its impact on currency exchange rates
FAQ
Frequently asked questions
What does Economics for Business Professionals cover?
This course covers Leadership and Management through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 15 - 19 June 2026, with additional classroom dates and mirrored Online / Live options listed in the course schedules section.
Who should attend this course?
Managers, business professionals, and individuals who have decided to explore how good economic decision making is fundamental to the success of business., Target Competencies, Economic reasoning and analysis
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Yes. The course detail page includes both classroom sessions and Online / Live sessions, with online options aligned to the same course dates for easier planning.
Where are classroom sessions delivered?
Current classroom venues include Kuala lumpur, Barcelona, London, Frankfurt, Rome.
Still Have Questions?
Contact the academy team for course details, delivery options, and delegate guidance.
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