The Economy - Learn How It Affects Your Business Bottomline

Clear discussion on how the economy can affect the profitability, sustainability and productivity of your business
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  • Lectures 20
  • Length 41 mins
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2015 English

Course Description

When you are in business, changes in the economy are bound to affect the way you operate. When the economy grows, or enters into a recession, either of these situations can affect your profits. Also, it would be good to know how high rates of inflation and unemployment can also impact your business operations. This course is designed to provide entrepreneurs and potential entrepreneurs with useful information on the various ways in which the economy affects businesses. Specifically, you will get a good understanding how economic growth, economic recession, inflation and unemployment can affect your business bottom line. These areas are very critical aspects of the study of economics and they affect businesses around the world every day. Additionally, given their relevance to business profitability, financial management and cost control, it is important to know how these areas can impact your business regardless of whether you live in a first world or a third world country. Hopefully you will come to appreciate that economics contains critical conceptual material necessary for an intelligent understanding of business life.

What are the requirements?

  • No special materials/software are required other than your computer

What am I going to get from this course?

  • Know how economic growth can work to your business sucess
  • Get the knowledge about economic recessions so that you can plan better for them
  • Manage business expenses better when you learn how inflation can affect your borrowing costs, wage bill and acccess to funds
  • Protect their business bottomline when you see how unemployment can reduce sales
  • Recognize the barganinng power you have as a business owner when unemployment is on the increase

Who is the target audience?

  • This course is meant for business owners and potential entrpreneurs who would like to know how changes in the economy affect their operations. It is designed to be simple but packed with relevant informatIon which can help to manoeuvre some of the ptfalls which can result from economic recession, high inflation and high unemployment levels.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: What is the study of Ecoonomics all about? Get familiar with some key concepts
Scarcity as the foundation of the study of Economics
How the concept of scarcity affects how you allocate resources in your business
Understanding the difference between Macroeconomcs and Microeconomics
How does micro/macroeconomics relate to your business decisions?
Do you know what an economy is? Let us take a look at how we define an economy
understand how decisions are made in the different types of economic systems
Section 2: Explore how a country's economic performance affects sales, profits and growth
Economic growth explained
Explore the various benefits which economic growth can provide for your business
What is economic recession? See how small businesses are affected by recessions
Examine the reasons why recession are a major concern for business operators
Section 3: The effect of inflation on financial management, planning and production costs
Defining inflation and discussing how it is measured
How inflation affects your business financial mangement and planning processes
Inflation can result in higher interest rates and reduced funds access
Do you export? This is how inflation will likely affect your competitiveness
Section 4: Let us examne the pros and cons of unemloyment for your business operations
Understanding the different types of umeployment and their causes
Your sales and profits are at risk because of falling demand due to unemployment
As an employer, this lecture shows how you can benefit when unemployment is high
Unemployment, employee morale and staff turnover
How unemployment affects the availability of skills to you as an employer
Section 5: Conclusion to lecture
Conclusion to lecture!

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Instructor Biography

Georgia McLeod, Economist, Entrepreneur, University Lecturer

Hi! I am a Georgia McLeod. I have multiple passions in life but foremost among those are my passion for economics, entrepreneurship, and interacting with people from various cultures and regions.

I have been a lecturer in Economics for at least 9 years where I teach various courses in banking, economic development, the Caribbean economy, public sector finance, and macroeconomics. I have experience in teaching at the top two universities in Jamaica (The University of the West Indies and the University of Technology).

I also love entrepreneurship and I am on the path of becoming a full time entrepreneur. In my home country, Jamaica, I have been a part of a number of entrepreneurship ventures, going back from helping my parents with their wedding business (which is operating now for at least 15 years!). I have am now entering the field of ecommerce. I think it is exciting and filled with many opportunities.

I have a passion for life. I love meeting me people and trying new things. I see failure as a necessary step towards success and it strengthens our mental muscles to keep going. I look forward to meeting you and I hope you find my courses very informative and useful. Thanks!

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