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) Anybody enrolling for this Program before 31st October 2020 will also be enrolled FREE for a Course on Leadership & Organisation; the only requirement is that you provide your personal email address to the College on enrolment.
(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:
Module 1 - Economic Systems and Activities
- The economic system, the focus of macroeconomics, microeconomics, business economics
- Planning and forecasting in business
- What influences wants and needs; utility; income
- The factors of production; uses and features of money
Module 2 - Demand & Supply
- Markets in business and economics, effects of price changes on the market
- Demand and quantity demanded, supply and quantity supplied, demand and supply curves
- Equilibrium price and quantity, and changes
- Factors affecting demand and supply
Module 3 - The Role of Commerce
- Commerce, goods and services, public and private sectors
- Enterprises, types of business units, companies, directors
- Commercial terms, capital, working capital, raising additional capital
- Types of income, the business plan
Module 4 - Price, Demand and Elasticity
- Price elasticity of demand, calculation, responsiveness, characteristics, use
- Price, quantity demanded, total expenditure, changes in total revenues
- Factors affecting price and price elasticity of demand, market structures
- Pricing objectives, pricing strategies, factors influencing prices, product factors
Module 5 - The Distributive Trade; Credit in Business; Discounts
- Channels of distribution, wholesale and retail trade and business
- Selecting the right channel(s) for products
- Credit policy, credit control, credit accounts, credit sale agreements, consumer protection acts
- Trade discount, RRP and list prices, quantity discount, other types of discount
Module 6 - Documents Used in Commerce
- Records, sources and types of information, their importance
- Business documents, business letters and forms
- Quotations, estimates and tenders, delivery notes, goods received notes
- Orders, order forms, invoices, proforma invoices, credit notes, statements of account, bank documents
Module 7 - Consumer Choice and Behaviour
- Determinants of consumer behaviour, preferences, incomes, budgets, prices
- Budget lines, possible purchases, trade-offs, forecasts and business predictions
- Consumer choice, utility, relative prices, marginal rate of substitution, indifference curves
- Price changes, cross price elasticity, substitution and income effects
Module 8 - Profit and Turnover
- Profits and capital, cost and selling prices, price setting by business people, the mark-up
- Profits and turnover, gross profit, its calculation, the trading account,
- Net profit, prime cost, indirect expenses, overheads, profit & loss account, distribution of profits
- Costs in manufacturing, types of fixed and variable costs, prime and supplementary costs
Module 9 - Business Finance
- The balance sheet, preparation, what it shows, layouts
- Interpreting financial statements, working capital, cash and funds flow, dangers of overtrading
- Accounting ratios, assessing the performance of a business
- Break-even analysis, minimum revenues, the break-even point, break-even charts
Module 10 - Production
- Considerations in production, the market, technology, processes, policy, product range, finance
- Production levels, the value of costing, optimum level, calculating production costs
- Economies of scale, horizontal, vertical and lateral integration, location, using resources
- Government involvement in commerce, reasons for involvement, taxation, rates
Module 11 - Commercial Services: Banking & Insurance
- Service providers, functions of a bank, banking and bank accounts, payments, charges
- Rates of interest, lending rate, bank credit facilities, loans, mortgages, overdrafts
- Insurance, risk, indemnity, types of risk, secondary functions of insurance
- Insurance contracts, classes of insurance, business insurance, categories of insurance
Module 12 - Transport, Communication, Advertising, Export & International Trade
- Transport, efficiency, rail, road, water, air, globalisation, documents used in transport
- Methods of communication, oral, written, mail, telecommunications, suitability
- Advertising and sales promotion, media, public relations
- International trade, export, government control, foreign exchange, duties, payments for exports
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.
- 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.
(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.