Economics Principles
6 Credits (ECTS)
Economics Principles
Get 70% back via Tax Credit
€280 refund on this module
Module Description
The objective of this module is to provide an introduction to economics and the main characteristics of economies using comparisons across the major dimensions of economic performance: growth, inequality, stability.
These concepts will be studies to understand the impact of economics on society and prepare the student to take part in decision making on the macro- and microeconomic levels to provide solutions to contemporary problems associated with managing contemporary organisation.
By examining economic growth, disparities in wealth distribution, and economic stability, learners will gain insights into developing effective strategies and solutions for managing organizations in a dynamic economic environment.
This module equips students with the foundational knowledge needed to navigate and influence economic factors in their professional roles.
Entry Requirements
Candidates who apply for this course must possess:
- a qualification at MQF Level 4 (one ‘A’ Level or equivalent in any subject)
AND
- a pass in English* and Mathematics at MQF Level 3 (‘O’ Level or equivalent).
Preference is given to applicants having a year of work experience related to the field of study.
*Students whose first language is not English will be required to demonstrate evidence of an adequate level of English proficiency.
Target Audience
This course is targeted at people who wish to have a thorough background in management in order to progress further in their careers, such as:
- Supervisors
- Coordinators
- Assistant Managers
- Junior Managers
- Middle Managers
- Project Coordinators/ Project Managers
The target group can also be extended to groups that have significant management experience but lack a formal qualification, such as managing directors and officers.
Career Paths
The programme aims to help you progress from first–level supervisory positions to higher managerial roles such as:
- Manager
- Senior Manager
- Head of Department
- Director etc. of any organisation both in the private and public sector
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Modular Assessment
- Summative Assessment
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Additional Info
Upon successful completion of this course, students will be eligible for a 70% refund of the cost through the ‘Get Qualified’ scheme.**
Due to the modular structure of the course, you may also opt to take individual modules as stand-alone. The entry requirements still apply.***
*Prices are applicable to students who reside in Malta at the time of applying.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Identify, present and explain standard theoretical economic models and apply them to analyse economic questions and issues.
- Assess policy issues related to market economies.
- Use data and information gathered to review own organisation’s strategy viability and sustainability.
- Use market place information to develop new business and income-generating activity within own organisation.
- Determine how own organisation can benefit from economies of scale and pricing strategies.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Capitalism: Affluence, inequality, and the environment.
- Social interactions and economic outcomes.
- Macro and Micro Economics.
- Applied economics.
- Theories of Consumption and Investment.
- Public policy for fairness and efficiency.
- Work, wellbeing, and scarcity.
- Institutions, power, and inequality.
- The organisation: Employees, managers, and owners.
- Firms and markets for goods and services.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Apply standard theoretical economic models to analyse economic questions and issues.
- Critically analyse Applied Economics for Managers.
- Critically analyse theories of Consumption and Investment.
- Evaluate the concepts of Market Performance and Market Efficiency.
- Critically analyse the differences between Macro and Micro Economics.
- Identify Pricing and Costing strategies for public and private organisations.
Module-Specific Digital Skills and Competences:
The learner will be able to:
- Navigate through the online learning platform to benefit from assignments, discussion boards, literature, tutorials etc.