Economics for Decision Making

Lagos Business School

How long?

  • 3 days
  • in person

Lagos Business School

Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Economics

Regardless of your specialization, economics surrounds you everywhere, and at some point in time, it will be necessary for you to understand the basic...

Read more about Finance

Finance is an integral and most important component of any business, so everyone needs to improve their competence in this area. Finance courses will ...

Read more about Government

Constant changes in the public sector's operational framework make it considerably difficult to maintain a sustainable and trustworthy working atmosph...

Read more about Marketing

Marketing courses will plunge you into the vast field of marketing. In these courses, you will learn a variety of topics that cover each stage of runn...

Who should attend

Professionals from all sectors (public, private, and from NGOs)

About the course

Economics is the science of resource planning, investment allocation and optimisation, and budget efficiency which underlies all business, government and individual decisions, including pricing, product development, negotiations, macroeconomic risk management, and understanding the general operating environment.

This seminar provides an introduction to economic analysis with a particular focus on concepts and applications relevant to business investment decisions and government financial behaviour. It addresses how to read and interpret economic indicators like GDP, CPI, PMI, Money Supply, Interest rates, MPR, CRR, Repos, exchange rates, Futures, Forwards, Derivatives etc. It also introduces a framework for understanding and analysing the broader economic and public policy environment in which a business competes. Participants are equipped with knowledge of fundamental concepts and tools of economic analysis in a richly practical, simple and actively engaging context.

It is expected that participants are able to use published economic statistics and forecasts to assess economic conditions and outlook; become better equipped to relate economic developments to business, social, and political trends; and understand how to manage the risks imposed by the dynamics of GDP growth, inflation, exchange rate, interest rate and government fiscal policies.

Programme

  • The price-setting mechanism of the market – demand and supply analysis for price and output determination
  • Elasticity concept, the welfare of consumers, producers and the efficiency of markets
  • Economics of the public sector – externalities, public goods and common resources, and design of the tax system
  • Firm behaviour and organisation of industry – costs of production, competitive markets, monopoly, oligopoly and monopolistic competition
  • The system of economic production – national income accounting and measuring the cost of living, factor productivity etc.
  • The monetary system and monetary policy mechanism
  • The fiscal system and fiscal policy mechanism
  • The techniques of budget analysis
  • International trade and finance, terms of trade, the absolute and comparative advantage
  • The foreign exchange market and determination of exchange rate
  • Balance of payments analysis
  • Framework for managing macroeconomic risks or growth, inflation, interest rate and exchange rate
  • The derivative market and terminologies
  • The capital market
  • Glossary of key economic statistics
  • 2020 economic forecast

Key Learning Outcomes

  • Understand the language when economists describe the economy.
  • Apply demand and supply analysis to explain how prices and output are determined in different markets.
  • Know where to find or how to compute and use economic indicators like GDP, exchange rate, unemployment rate, inflation rate, interest rate, CPI, Money Supply, MPR, CRR, Repos, and NCO, Labour statistics etc.
  • Understand the techniques for managing macroeconomic risks imposed by changing exchange rate, money supply, inflation, interest rate, fiscal policies and international ratings and understand fundamental macroeconomic relationships such as between inflation, interest rate and exchange rate.
  • Understand the monetary system, the role of the Central Bank in monetary policy formulation and the key instruments of macroeconomic policy and describe their role in the economy.
  • Understand the fiscal policy mechanism; how to carry out budgetary analysis, the meaning of the budget cycle, budget deficit, budget surplus and government's tax and revenue behaviour.

Experts

Bongo Adi

He led various collaborations on research, case studies and stakeholder engagement with various government agencies including ICRC, NERC and several ministries involved in PPPs. He has over 15 years experience in teaching, policy research, and consulting. As an assistant professor, he has lectur...

Bismarck Rewane

Mr. Bismarck Rewane holds a Bachelor’s degree from the University of Ibadan and is an Associate of The Institute of Bankers, England and Wales. Mr. Rewane worked with the First National Bank of Chicago (which later became the International Merchant Bank Nigeria Limited) as a General Manager and ...

Ikechukwu ​Kelikume

Ikechukwu Kelikume is currently a doctoral student of the Swiss University of Economics (SMC University, Switzerland) and leads sessions in microeconomic and macroeconomic environment of business at Lagos Business School. Ike undertakes research and consults in areas which include macroeconomic ...

Videos and materials

Economics for Decision Making at Lagos Business School

From  NGN 255 000

Something went wrong. We're trying to fix this error.

Thank you for your application

We will contact the provider to ensure that seats are available and, if there is an admissions process, that you satisfy any requirements or prerequisites.

We may ask you for additional information.

To finalize your enrollment we will be in touch shortly.

Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Economics

When it comes to dealing with the economical side of any business process, it is essential to build a basic framework for studying market analysis, microeconomic and macroeconomic concepts, and competition models. How can an organization's objectives...

Read more about Finance

During Finance courses, you will get acquainted with a huge number of financial analyst tools and learn how to work with them. So, you will learn how to make and analyze financial reporting, calculate the main financial indicators of the company and ...

Read more about Government

Government courses primarily focus on real cases coupled with scholarly analysis, that define the effectiveness of a public organization's performance. Government training courses are of primary significance to those who are involved in public sector...

Read more about Marketing

During Marketing courses, you will learn how to develop a business idea and create the right website to promote your product. You will gain the skills to analyze your business performance and make key decisions that improve the efficiency of your bus...

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.