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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?
  • Duration2 weeks
  • Weekly study3 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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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.

  • Established1992
  • LocationCoventry

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What's different about this course?

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.

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How do degrees work on FutureLearn?

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Which program and degree is this course part of?

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.