Describe economics and scarcity
Identify fundamental economic concepts
Explain the operation of a simple economy
Investigate transport’s role in economic development and creation of wealth
Demonstrate difference between the long and short-run economic scenario in profit maximisation and markets
Explore key microeconomic market models
Investigate how market structures influence transport markets and affect efficiency using contestable theory
This two-week course aims to provide you with the opportunity to define economics, develop an understanding of basic economic concepts and use them to explain the behaviour of a simplified economy.
You will explore microeconomic and macroeconomic concepts and demonstrate the difference between the long and short-run economic scenario in profit maximisation.
You will also investigate the role of transport in economic development and growth. Finally, you’ll investigate how economic market structures influence transport markets and affect efficiency using contestable theory.
Outline a definition of economics and the issues of scarcity
Recognise the importance of opportunity cost economics
Identify factors of production and types of markets
Recognise the operation of a simple economy
This course is for business professionals aiming to improve their logistics, supply chain or distribution skills, especially in costing and pricing of logistics services.
Please note that the staff described in the ‘Who will you learn with?’ section below may be subject to change.