Course contents:

What is Business Economics
Business economics is a term used to describe and explain the production, distribution and consumption of goods and services.

Basic Financial Concepts
In order to understand how a company’s resources can be used in the best possible manner, we must learn how to use a number of financial concepts.

Results and Profitability
How to measure profitability.

Use of Capital
The amount of capital needed by a company may vary, as does the manner in which the capital is used.

The DuPont Model
A model to analyze where there is greatest potential for improvement within a company.

Interactive DuPont Model
Interactive Du Pont model used to calculate profitability.

Variable and Fixed Costs
A company’s costs can be divided into variable and fixed costs.

Direct and Indirect Costs
One of the main problems of product costing is to determine which costs are caused by or used for a particular cost unit.

Incremental Costs and Joint Costs
The causal connection between action and costs.

Capital Tied up in Inventory
A basic premise for material control is that tied-up capital should be kept at a low level.

Inventory Turnover Rate
Inventory turnover rate is a measure of how quickly the inventory is renewed.