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What is Economics in Global Logistics?

Gain the opportunity to understand economic concepts and investigate how economic market structures shape transport markets.

1,036 enrolled on this course

What is Economics in Global Logistics?
  • Duration

    2 weeks
  • Weekly study

    3 hours
This course is part of the program Logistics Economics, which is one of the building blocks that leads to a degree in MSc Global Logistics. Find out more.

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.

What topics will you cover?

Week 1

  • 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

Week 2

  • 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

When would you like to start?

  • Date to be announced

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Learning on this course

You can take this self-guided course and learn at your own pace. 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.

Who will you learn with?

Nick Wright is a Senior Fellow of the HEA and a Fellow of the CILT with over 30 years' experience in global logistics senior management roles in Europe and the USA.

Who developed the course?

Coventry University

Coventry secured gold in the UK Government’s 2017 Teaching Excellence Framework (TEF) and is University of the Year for Student Experience in The Times & The Sunday Times Good University Guide 2019.

  • Established

    1992
  • Location

    Coventry

Learning on FutureLearn

Your learning, your rules

  • Courses are split into weeks, activities, and steps, but you can complete them as quickly or slowly as you like
  • Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
  • Stay motivated by using the Progress page to keep track of your step completion and assessment scores

Join a global classroom

  • Experience the power of social learning, and get inspired by an international network of learners
  • Share ideas with your peers and course educators on every step of the course
  • Join the conversation by reading, @ing, liking, bookmarking, and replying to comments from others

Map your progress

  • As you work through the course, use notifications and the Progress page to guide your learning
  • Whenever you’re ready, mark each step as complete, you’re in control
  • Complete 90% of course steps and all of the assessments to earn your certificate

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Advance your career with a degree

Since 2017 you have been able to take a degree on FutureLearn. This free course is a bit like a starter course for a degree — it should give you a flavour of the degree subject but can also be your first step towards a degree qualification.

If you enjoy this course you can apply to join the program it’s part of to start working towards a degree on FutureLearn.

Don’t worry, you can still take the course without doing a full degree!

Do the free course
Join and complete the program
Get academic credit for an online degree from Coventry University
This course is part of the program Logistics Economics, which is one of the building blocks that leads to a degree in MSc Global Logistics.

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