Financial and Economic Environment
Description
The aim of this module is to provide students with an overview of the financial and economic context within which organisations operate.
It will afford students the opportunity to appreciate the central role of the financial function in an organisation. It will also offer students an insight into the importance to the organisation of the economic environment.
Learning Outcomes
Describe the nature, purpose, role and scope of financial information.
Analyse and evaluate financial data and information.
Define specific cost terms and explain how these costs relate to business decision-making.
Explain the budgetary process, prepare and reconcile flexed statements and identify their importance in an organisational control.
Describe the nature, purposes, context and principles of economics and apply these principles to resource allocation decisions.
Interpret the role, and the limitations, of the free market system in resource allocation including in the context of sustainability.
Explain the nature of economic growth, its drivers and its limitations, including in the context of sustainability.
Contribute to debate on contemporary economic issues.