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£100
£100
On-Demand course
4 weeks
All levels
If you are looking to start a career in the widely applicable field of economics, our Economics at QLS Level 5 course will be the perfect choice for you. Enrol right away to learn everything you need to know about Economics at QLS Level 5, as well as the skills to develop your abilities in this sector and to be confident in your knowledge bucket with One Education by your side!
If you want to learn more about economics but don't know where to start, this course will provide you a solid foundation to help you advance your profession and develop more applicable skills. This descriptive, instructor-led economics course is aimed to provide you with a thorough grasp of the nature of the connected sector and your primary duties within it. Our Economics online program provides a wealth of information regarding cost-effectiveness and market strategies in all dynamic business areas.
After completing this complete Economics course, you will have all of your questions addressed. Taking an economics course has various benefits that will make studying more enjoyable and less stressful while also preparing you for success. Add this course to your shopping cart to improve your skills. Your future should not be determined by chance or luck. Learn how to become a money-making genius and grasp opportunities as they arise.
This course will enable you to -
Understand the fundamental concepts of micro and macroeconomics, including supply and demand, market structures, and economic growth.
Learn about the different economic systems and theories, including classical and Keynesian economics, and how they are applied in the real world.
Gain an understanding of the role of government in the economy, including fiscal and monetary policy, and their impact on economic growth and stability.
Learn how to analyse and interpret economic data, including GDP, inflation, and unemployment, to make informed economic decisions.
Understand the global economic environment and how different countries and regions are interconnected, including trade, international finance, and globalisation.
Key Benefits
Learning materials of the Design course contain engaging voiceover and visual elements for your comfort.
Get 24/7 access to all content for a full year.
Each of our students gets full tutor support on weekdays (Monday to Friday)
Course Curriculum:
Module 01
An Introduction to Economics
Basic Definitions to Start With
Scarcity and ChoiceGoods and BadsCeteris ParibusDefinition of Economics
Factors of Production
Categories of Economics
Production Possibilities Frontier Framework
Law of Increasing Opportunity Costs
A Budget Line
Module 02
The Market System and the Circular Flow Model
The Market System
Characteristics of the Market System
Private PropertyFreedom of Enterprise and ChoiceSelf-InterestCompetitionMarkets and PricesSpecialisationUse of MoneyActive but Limited Government
The 'Invisible Hand'
The Circular Flow Model
Module 03
Supply, Demand and Prices
What Is Demand?
The Demand Curve
Individual Demand Curve vs Market Demand Curve
Factors Causing the Demand Curve to Shift
What Is Supply?
The Law of Supply
Factors Causing the Supply Curve to Shift
A Change in Supply vs a Change in Quantity Supplied
A Few Important Terms Related to Supply and Demand
Equilibrium Price and Quantity
Equilibrium in Terms of Consumers' and Producers' Surplus
Module 04
Prices
Two Major Jobs of Price
Price Controls
Effects of Price Ceiling
Effects of a Price Floor
Absolute Price and Relative Price
Module 05
Elasticity
Price Elasticity of Demand
The formula for Calculating Price Elasticity of Demand
From Perfectly Elastic to Perfectly Inelastic Demand
Price Elasticity of Demand and Total Revenue
Determinants of Price Elasticity of Demand
Applications of Price Elasticity of Demand
Cross Elasticity of Demand
Income Elasticity of Demand
Price Elasticity of Supply
Price Elasticity of Supply and Time
Module 06
Market Failures
Market Failures in Competitive Markets
Demand-Side Market Failures
Supply-Side Market Failures
Efficiently Functioning Markets
Public Goods
Externalities
Internalising Externalities
Asymmetric Information
Government's Role in the Economy
Module 07
Production and Costs
The Market and the Firm
Two Sides to Every Business Firm
Explicit and Implicit Cost
Accounting Profit vs Economic Profit
Zero Economic Profit
Production
Long Run vs Short Run
Production in the Short Run
Some Economic Cost Concepts
Average Productivity
Costs of Production: Total, Average, Marginal
Sunk Cost
Economies of Scale, Diseconomies of Scale and Constant Returns to Scale
Module 08
Market Structure: Perfect Competition vs Monopoly
The Theory of Perfect Competition
Demand Curve for a Perfectly Competitive Firm
Marginal Revenue Curve of a Perfectly Competitive Firm
Profit Maximization in the Short Run
To Produce or Not to Produce
The Theory of Monopoly
Barriers to Entry
The Monopolist's Demand and Marginal Revenue
Perfect Competition vs Monopoly
Price Discrimination
Module 09
Money, Banking and the Financial System
The Meaning of Money
Functions of Money
Defining the Money Supply
Commercial Banks
Central Bank
The Bank's Balance Sheet
The Financial System
Module 10
Measuring GDP and Economic Growth
GDP Defined
The Circular Flow of Expenditure and Income Revisited
GDP Equals Expenditure Equals Income
Measuring UK GDP
Nominal GDP and Real GDP
Computing Real GDP
Limitations of Real GDP
Economic Growth
Calculating Growth Rates
Module 11
Unemployment
Why Unemployment Is a Problem
Who Are the Unemployed?
Three Labour Market Indicators
Frictional Unemployment
Structural Unemployment
Natural Unemployment
Module 12
Inflation
The Price Level
Why are Inflation and Deflation are Problems?
Computing the Price Level
Measuring the Inflation Rate
The GDP Deflator
Module 13
Income Distribution and Poverty
Economic Inequality
Measuring Income Equality
Factors Contributing to Income Inequality
Poverty
Module 14
International Finance
The Foreign Exchange Market
Appreciation and Depreciation of Exchange Rates
The Demand for, and Supply of, Currencies
Market Equilibrium
Flexible vs Fixed Exchange Rates
The Current System
Module 15
Fiscal Policy
Meaning of Budget
Income Tax Structures
Budget Deficit, Surplus, or Balance
Valued-Added Tax
Aggregate Demand
Aggregate Supply
Some Relevant Fiscal Policy Terms
Demand-Side Fiscal Policy
Supply-Side Fiscal Policy
Course Assessment
To simplify the procedure of evaluation and accreditation for learners, we provide an automated assessment system. Upon completion of an online module, you will immediately be given access to a specifically crafted MCQ test. The results will be evaluated instantly, and the score will be displayed for your perusal. For each test, the pass mark will be set to 60%.
When all tests have been successfully passed, you will be able to order a certificate endorsed by the Quality Licence Scheme.
Certificate of Achievement
Endorsed Certificate of Achievement from the Quality Licence Scheme
After successfully completing the Economics at QLS Level 5, learners will get an endorsed certificate (included with the course) delivered right at their doorstep by post, without paying a single penny! Please note that learners residing outside the UK have to pay a £10 postage charge.
Accredited Certification from One Education
After successfully completing the MCQ assessment of this Economics at QLS Level 5, you will also qualify for a CPD Accredited Certificate from One Education, as proof of your continued professional development. Certification is available in PDF format, at the cost of £9, or a hard copy can be sent to you via post, at the cost of £15.
For Additional Courses
For the Quality Licence Scheme endorsed certificates from the additional courses, you have to pay the fees based on the level of each course:
Level 1 - £39
Level 2 - £69
Level 3 - £79
Level 4 - £89
Level 5 - £109
Level 6 - £119
Level 7 - £129
150 CPD hours / points Accredited by CPD Quality Standards
This course is intended for individuals who wish to start their economics education from the beginning, those who aspire to work in the corresponding field, those who want to progress in their current jobs, those who are interested in studying economics from other academic fields, and those who are searching for strategies to manage their financial resources or to launch a business.
This Economics at QLS Level 5 course is open to all, with no formal entry requirements.
The field of economics is continually growing. Our courses will assist students in pursuing jobs in the following fields:
Economist - £40,000 - £70,000 per year.
Financial Analyst - £35,000 - £50,000 per year.
Investment Banker - £40,000 - £70,000 per year.
Data Analyst - £30,000 - £50,000 per year.
Economic Consultant - £40,000 - £60,000 per year.
With a team of industry professionals producing and delivering our course content, you can be sure the skills and knowledge you learn apply to your career aspirations in manag...