Economics Every Accountant Should Know

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Economic concepts can help us to make better decisions. This course will challenge and develop the way you think about pricing, strategy, investment appraisal and customer relationships.

£100 +VAT

4 CPD hours

120 days’ access

Use ACPD101 for 10% off any purchase.

Economics Every Accountant Should Know

£100 +VAT

4 CPD hours 120 days’ access
Use ACPD101 for 10% off any purchase.

Economics Every Accountant Should Know

This course is not currently available. To find out more, please get in touch.

This course will enable you to

  • Use microeconomics to help you make business decisions
  • Use supply & demand analysis of markets to understand and maximise your competitive position
  • Create a strategy to secure consumer surplus and increase revenue and profitability
  • Build opportunity cost into your investment appraisal systems
  • Use the price elasticity of your products or services to maximise revenue

About the course

Economics is familiar to all of us. We hear about it every day on the news and we study it as part of our professional qualification. But how many of us understand how to use it to make better business decisions?

This course focuses on how accountants can use economic concepts to underpin pricing strategies and investment decisions, to create market and product strategies and to strengthen and better understand relationships with customers.

Contents

How economists think

Think like an economist
Scarcity
Economics in the news
A perfect market?

The market system

Microeconomics and the market system
Economists on Uber
Growing market size or share
Consumer surplus
Consumer surplus in action
Winning consumer surplus

Making pricing decisions

Elasticity of demand
Price elasticity
Making pricing decisions
Elastic markets

Making business decisions

Business purpose
Profit maximisation
Fixed and variable costs
Complexity of objectives

The economic environment

The economic environment
Bluff your way in macroeconomics
Key indicators: Inflation
Key indicators: Unemployment
Key Indicators: Interest rates

How it works

Author

Alan Nelson

Alan Nelson

Alan Nelson is the founder of accountingcpd and has a keen interest in economics and in management skills training in the accountancy profession. He has been Chair of ICAEW’s Practice Assurance Committee, and a member of ACCA’s SME Committee and of IFA’s Regulatory Committee. He is currently a member of the Bank of England’s Decision Making Panel.