Business Economics & Commerce
Learn about important economic and commercial topics which all business people need to understand in order to operate successfully in their business environment, and to develop profitable organizations.
Economics and Commerce are closely related fields of study; both deal with production, the different forms of business enterprises, marketing, finance and banking, transport, insurance, and a wide range of other topics. Whilst Commerce is concerned with how the modern business world works, Economics attempts to explain why it works as it does. This unique Program covers - in an interesting and practical style - the wide range of important topics within the spheres of both Economics and Commerce which all modern business people, managers and administrators need to know to develop and maintain profitable organizations in the modern business world. Good knowledge of business economics is usually required for all further and higher professional, managerial and business related courses, and for career success in almost any job or employment with an organisation involved in production or supply, or where any buying and selling of products takes place.
(1) For the period 1st April to 30th June 2020, anyone enrolling for this Program will also be enrolled free for a Course on Leadership & Organisation;
(2) During the "Covid-19" (Corona) virus pandemic, Members may opt to take an Assignment (home-based course work) instead of an Examination to complete the Program.
- Summary of major topics
- What is included
- Related courses
- Study & Career development
Summary of Major Topics Covered in this Diploma Program include:
- Economic systems and economic theory, activities and law.
- The economic effect of budgets and financial constraints.
- Consumer income, consumer choice and behaviour, satisfaction of wants.
- Utility, indifference curves, product bundles.
- The factors of production: land, capital, labour, the division of labour.
- Capital and working capital: its sources, calculation and the importance of its composition.
- Financing businesses and the sources of finance.
- Assessing and improving revenue, turnover and gross profit.
- The uses and value of money; the price mechanism.
- Types of businesses: sole owners, partnership firms, companies; incorporation, limited liability.
- International trade and international payments.
- Supply and demand: causes and effects of changes; supply and demand curves, and equilibrium.
- Costs, pricing decisions and pricing strategies; market structure and their affects.
- Products: normal, inferior, necessity, substitute, complimentary.
- The price elasticity of demand, the cross price elasticity of demand - its meaning, affect, interpretation and analysis.
- Economies of scale, internal and external economies, cost implications, unit cost reduction.
- Production policy, setting production levels.
- Business expansion, integration, mergers.
- Factors regarding location.
- Business and production, fixed and variable costs, making use of the information.
- Government involvement in business, the reasons and possible benefits.
- Ancillary services; banking, insurance, transport, communications, advertising and sales promotion.
- The distributive trade, channels of distribution, retailers, wholesalers and others.
- Credit control, allowing credit, credit types. Discounts including trade and quantity discounts.
- Commercial documentation, the need for information, forms and business documents.
WHAT IS INCLUDED IN THE MODEST CIC FEE
Your CIC Fee includes:-
- Your enrolment/registration with Cambridge International College, and your own high-quality, professionally produced and illustrated comprehensive International CIC Study & Training Publications.
- A detailed, professional ‘Study & Training Guide’ with full instructions on how to study to achieve success and gain top results. The Guide includes detailed advice on how to answer Self-Assessment Tests, Training Tests and Examinations.
- Self-Assessment Tests and Recommended Answers for them, and a Progress Chart.
- Two Progress/Training Tests (which can be used as ‘Past Papers/Questions’) with an optional Tutorial Support Service.
- The Final Examination** sat under Invigilation/Supervision in your own area - full details, guidance and explanation of how your Examination will be arranged and how Invigilation is conducted will be provided when you register. Note, CIC arranges Examinations in over a hundred countries worldwide for thousands of Members every year; it is a flexible, straightforward process and will be arranged when YOU are ready to write your Examination. **An Assignment Option is available instead of an Exam for the ‘Covid-19’ (Corona) virus period - currently until 30th June 2020.
- The prestigious Cambridge International College Diploma on successful completion of your Study & Training and on passing the Final Examination.
- Your personal page on CIC’s Member Services website with access to results, despatch details, advice and guidance, and more: www.cambridgeinternationalcollege.co.uk
- Regular information and news including: Newsletters with details of special offers and new Programs and much more; and Competition Forms; by email and post.
Everything needed for your Study & Training success is included in the CIC Fee.
- Further Study and Training Advice, and Assistance is available before, during and after CIC Study & Training; Members may ask CIC’s team of experienced Consultants for advice on further study and Programmes to improve career prospects and advancement.
- CIC’s experienced and helpful staff can assist with numerous special requests, such as reference/recommendation letters and transcripts, and more, by post and email.
- Credit Management & Control Diploma 12 months (flexible)
- Business Administration Honours (Higher) Diploma 21 months (flexible)
- Managerial Economics Mastery of Management Graduate Diploma One year (flexible)
- Commerce & Administration (BCA) Baccalaureate 2 years (flexible)
- International Business & Trade Diploma 12 months (flexible)
This course - providing as it does knowledge on many subjects including supply and demand and the factors which affect them, pricing strategy, and knowledge of many commercially important topics - is ideal for business people and managers who need to improve their organisation’s output and profitability, and to analyse the environment to the maximum benefit of the organization. It provides wide knowledge needed for those men and women looking to progress to higher levels in organizations, to make their work and work-decisions more effective and or to make their organizations more profitable.
A knowledge and understanding of economics is generally a prerequisite for all further and higher professional, managerial and business related courses, and this course provides that knowledge, understanding and along with a recognised qualification. Higher studies are available with CIC at many levels.
There is a wide range of options for further study - see the "Related Courses" section for suggestions - which include Honours Diplomas, ABA & Baccalaureate Programmes, and the 'Double Award' EBA & BBA Bachelor degree Programme. You are welcome to ask the College for advice, and of course you can see details of these Programmes on this website.
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Duration & Assessments
The Study Period is one year (12 months) but this is flexible; the Diploma can be completed in a shorter period, or you can take longer if necessary.READ MORE »
To gain your Diploma you need to sit and pass an Examination** (based entirely upon the contents of the Study Materials provided to you in your Program Fee). Full and clear details about preparing for and sitting the Exam are provided to you, including in your Study & Training Guide, when you enrol. The clear information explains when, where and how your Examination will be arranged - it is a simple and straightforward process, which hundreds of thousands of other Members have successfully gone through. If you study well and follow the advice in the CIC Study & Training Guide you should be able to achieve high marks and good grades - and obtain your prestigious International Diploma!
**An Assignment Option is available instead of an Exam for the ‘Covid-19’ (Corona) virus period - currently until 30th June 2020.
(See the College Prospectus, or the “Frequently Asked Questions” section on the “Contact Us” page of this website, if you would like more information.)
An international accredited qualification for professional development and career success showing you have substantial skills, competence and knowledge.