Business Studies and Economics

Business Studies

 We develop students’ understanding of business activity in the public and private sectors by illuminating the importance of innovation and change. Students find out how the major types of business organisation are established, financed and run, and how their activities are regulated. Factors influencing business decision-making are also considered, as are the essential values of cooperation and interdependence. 

Students not only study business concepts and techniques but also enhance related skills such as numeracy and enquiry.

Through this course, students are able to:

1. Understand different forms of business organisations, the environments in which businesses operate and business functions such as marketing, operations and finance
2. Appreciate the role of people in business success.
3. Calculate and interpret business data
4. The ability to analyse business situations and reach decisions or judgements.

The aims are to enable students to:

1. Apply their knowledge and critical understanding to current issues and problems in a wide range of business contexts
2. Make effective use of relevant terminology, concepts and methods, and recognise the strengths and limitations of the ideas used in business
3. Distinguish between facts and opinions, and evaluate qualitative and quantitative data in order to help build arguments and make informed judgments.
4. Appreciate the perspectives of a range of stakeholders in relation to the business environment, individuals, society, government and enterprise
5. Develop knowledge and understanding of the major groups and organisations within and outside business, and consider ways in which they are able to influence objectives, decisions and activities
6. Develop knowledge and understanding of how the main types of businesses are organised, financed and operated, and how their relations with other organisations, consumers, employees, owners and society are regulated
7. Develop skills of numeracy, literacy, enquiry, selection and use of relevant sources of information, presentation and interpretation
8. Develop an awareness of the nature and significance of innovation and change within the context of business 

Economics

In Economics classes, we seek to develop our students’ understanding of economic theories, terminologies and principles. Students study the economics of different countries and how these interrelate. They also learn to work with simple economics data and to use the tools of economic analysis.

Lifelong skills to be gained include:

• Understanding of economic theory, terminology and principles
• Ability to apply the tools of economic analysis
• Ability to distinguish between facts and value judgments in economic issues
• Understanding and usage of econometrics
• Ability to take a greater part in decision-making processes in everyday life
• Ability to use examples from a variety of economies