Course Syllabus
Economics for Business Management
Instructor: Dr. Olga Shalamai/James Meyer
Email:
[email protected] Jmeyer/kingsacademy.edu.jo
Classroom: #
Semester: Fall 2024 - Spring 2025
Course Overview:
This course provides a comprehensive introduction to economics and its
application in business management. Students will explore fundamental
economic principles, different economic systems, and the interplay between
economic theory and business practices. The course emphasizes practical
understanding and real-world application through various activities, case
studies, and projects.
Course Objectives:
Understand the basic principles of microeconomics and
macroeconomics.
Analyze the roles and objectives of different types of business
organizations.
Examine the relationships between businesses and their
stakeholders.
Explore the factors of production, business growth, and business
classification.
Evaluate marketing strategies and the importance of customer
relationships.
Assess the sources of finance and analyze financial performance.
Understand human resource management, including recruitment,
training, and employee motivation.
Examine external influences on business activities and decisions.
Course Structure:
The course is divided into eight units, each focusing on a specific area of
economics and business management.
Fall 2024
Unit 1: Business Activity and Classification of Business
Week 1-2:
o The three economic questions
o Classification of business activities
o The sectors of the economy: primary, secondary, and
tertiary
Unit 2: Types of Business Organizations and Business-
Stakeholder Objectives
Week 3-6:
o Types of business organizations
o Business objectives and stakeholder objectives
o Business location and its impact
Unit 3: Enterprise, Business Growth, and Size
Week 7-11:
o Entrepreneurship fundamentals
o Business growth strategies and their impact
o Measuring business size and its implications
Unit 4: Marketing, Competition, and the Customer
Week 12-14:
o Marketing strategies and customer loyalty
o Understanding competition and market changes
o Mass market vs. niche market and market segments
Spring 2025
Unit 5: Marketing Research, Mix, and Strategy
Week 1-4:
o Importance of market research
o Techniques for gathering market data
o Analyzing market trends and consumer behavior
o Developing a marketing mix and strategy
Unit 6: External Influences on Business
Week 5-7:
o Impact of technology, ethics, and the economic climate on
business
o Globalization and exchange rates
o Legislation affecting business operations
Unit 7: Human Resources Management
Week 8-10:
o Organizational structure and management roles
o Recruitment, selection, and training of employees
o Financial and non-financial methods of employee
motivation
Unit 8: Financial Information and Financial Decisions
Week 11-16:
o Sources of finance
o Cash flow management
o Financial terms, calculations, and analyzing financial
performance
o Making informed financial decisions
Assessment Methods:
Quizzes: Short assessments designed to reinforce and evaluate your understanding of the
concepts covered each week. These will help you stay engaged and prepared for more
comprehensive evaluations.
Case Studies: Analysis of real-world scenarios where you will apply economic principles to
solve problems and make decisions in business contexts. These assignments encourage critical
thinking and practical application of theoretical knowledge.
Project: Collaborative assignments that require you to work in teams to address complex
economic issues. These projects are designed to develop your teamwork skills and provide
hands-on experience in applying economic theories to real-world situations.
Tests/Papers: Periodic assessments, including both tests and research papers, to evaluate
your grasp of the material covered in specific units. These will test your ability to synthesize
information and articulate your understanding in written form.
Final Exam: A comprehensive examination covering the entire course material. This will test
your overall mastery of the concepts, theories, and applications discussed throughout the course.
Homework/Classwork: Regular assignments and in-class activities designed to reinforce
daily lessons and ensure ongoing engagement with the material.
Grading Policy:
Quizzes: 25%
Final/Project: 15%
Test/Papers: 40%
Homework/Classwork: 20%
Required Texts and Materials:
Textbook: Business Studies by Dave Hall-Rob
Supplementary Readings: Provided by the instructor
Materials: Notebooks, pens, calculator, access to a computer or
tablet
Classroom Policies:
Attendance: Regular attendance is required. Absences will result in a
lower final grade.
Late Assignments: Assignments submitted late will be penalized by
5% for each day late.
Academic Integrity: Plagiarism and cheating will not be tolerated. Students
are expected to adhere to the highest standards of academic integrity.
Participation: Students are expected to participate actively in class
discussions and activities.
Additional Resources:
Online Resources: Harvard Business Review
(HBR) https://hbr.org/, The Balance Small
Business, Channels: "TED Talks Business," "Valuetainment,"
"The Financial Diet"
Study Groups: Encouraged to facilitate collaborative learning.
