Weekly study3 hours
What is Economics in Global Logistics?
Explore how economics affects a global logistics business
This two-week course aims to provide you with the opportunity to define economics, develop an understanding of basic economic concepts and use them to explain the behaviour of a simplified economy.
You will explore microeconomic and macroeconomic concepts and demonstrate the difference between the long and short-run economic scenario in profit maximisation.
You will also investigate the role of transport in economic development and growth. Finally, you’ll investigate how economic market structures influence transport markets and affect efficiency using contestable theory.
- Outline a definition of economics and the issues of scarcity
- Recognise the importance of opportunity cost economics
- Identify factors of production and types of markets
- Recognise the operation of a simple economy
- Recognise transport’s role in economic development
- Explain the importance of profit maximisation and markets
- Recognise different economic markets
- Recognise how market structures influence transport markets
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Describe economics and scarcity
- Identify fundamental economic concepts
- Explain the operation of a simple economy
- Investigate transport’s role in economic development and creation of wealth
- Demonstrate difference between the long and short-run economic scenario in profit maximisation and markets
- Explore key microeconomic market models
- Investigate how market structures influence transport markets and affect efficiency using contestable theory
Who is the course for?
This course is for business professionals aiming to improve their logistics, supply chain or distribution skills, especially in costing and pricing of logistics services.
Please note that the staff described in the ‘Who will you learn with?’ section below may be subject to change.
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