BAC_Principles of Economics – Multihexa College

About Course

This course provides an overview of Canadian business, industry and government and their interactions with local, national and international economies.
Topics include resource allocation and the impact of current events upon public and private financial decisions.

Upon successful completion of this course, the student will have demonstrated the ability to:
● Understand how current events impact public and private financial decisions.
● Explore alternative economic systems.
● Understand the Canadian economy’s place in the global business environment. Research, compare of alternative economic systems.
● Build an ability to analyze current economic events reported in the media and the linkages to business decision making.
● Understand and explain how firms raise money.
● Be able to review, understand and assess concerns of the Federal Government’s budget and the implications for business in the years ahead.
● Understand business cycles and the linkages to unemployment and inflation as well as the associated economic tools used to minimize these conditions.
● Describe how the Bank of Canada influences money supply.
● Outline Trade Block (NAFTA, GATT) initiatives on economic policy.

Course Content

Topic 1: Introduction to Economics and Business

Topic 1: Introduction

00:00
LO1: Define key economic concepts and explain their relevance to business decision-making

00:00
LO2: Describe the relationship between economics and business activities in modern markets

00:00
LO3: Analyze how scarcity and choice influence organizational behavior

00:00

Topic 2: Types of Economic Systems and Their Business Impacts

Topic 3: The Canadian Economy in the Global Marketplace

Topic 4: Interpreting Current Economic Events and Trends

Topic 5: Business Financing and Capital Raising Methods

Topic 6: Federal Budgeting and Its Effect on Businesses

Topic 7: Understanding the Business Cycle and Economic Fluctuations

Topic 8: Unemployment, Inflation, and Their Economic Consequences

Assessment I

Topic 9: Economic Stabilization Tools and Government Interventions

Topic 10: Functions and Influence of the Bank of Canada

Topic 11: Trade Agreements and Economic Policy Development

Topic 12: Overview of NAFTA and GATT in Trade Policy

Topic 13: Global Trade and International Business Dynamics

Topic 14: Exchange Rates and Their Role in Global Trade

Topic 15: Central Banks and Economic Policy Implementation

Topic 16: Fiscal Policy: Government Spending and Taxation

Topic 17: Monetary Policy and Maintaining Economic Stability

Topic 18: Impact of Global Economic Events on Business

Assessment II

Topic 19: Forecasting the Business Cycle for Strategic Planning

Topic 20: Final Exam Review

Final Exam

About Course

What Will You Learn?

Course Content

Topic 1: Introduction to Economics and Business

Topic 1: Introduction

LO1: Define key economic concepts and explain their relevance to business decision-making

LO2: Describe the relationship between economics and business activities in modern markets

LO3: Analyze how scarcity and choice influence organizational behavior

Topic 2: Types of Economic Systems and Their Business Impacts

Topic 2: Introduction

LO1: Identify and describe different types of economic systems (market, command, mixed)

LO2: Compare how each system affects business operations and decision-making

LO3: Evaluate the advantages and limitations of each system in real-world contexts

Topic 3: The Canadian Economy in the Global Marketplace

Topic 3: Introduction

LO1: Describe the structure and key sectors of the Canadian economy

LO2: Analyze Canada’s role in the global marketplace and international trade

LO3: Evaluate the impact of globalization on Canadian businesses

Topic 4: Interpreting Current Economic Events and Trends

Topic 4: Introduction

LO1: Explain major current economic indicators and trends

LO2: Analyze how economic events influence business performance

LO3: Evaluate the implications of recent economic developments on industries

Topic 5: Business Financing and Capital Raising Methods

Topic 5: Introduction

LO1: Define various sources of business financing

LO2: Compare different capital-raising methods used by firms

LO3: Evaluate the suitability of financing options for different business needs

Topic 6: Federal Budgeting and Its Effect on Businesses

Topic 6: Introduction

LO1: Describe the components of a federal budget

LO2: Analyze how government budgeting decisions impact businesses

LO3: Evaluate fiscal policy measures and their business implications

Topic 7: Understanding the Business Cycle and Economic Fluctuations

Topic 7: Introduction

LO1: Define the phases of the business cycle

LO2: Analyze the causes of economic fluctuations

LO3: Evaluate the effects of business cycles on organizational performance

Topic 8: Unemployment, Inflation, and Their Economic Consequences

Topic 8: Introduction

LO1: Define unemployment and inflation and their key types

LO2: Analyze the causes and effects of these economic issues

LO3: Evaluate their impact on businesses and consumers

Assessment I

Assessment I

Topic 9: Economic Stabilization Tools and Government Interventions

Topic 9: Introduction

LO1: Describe key government tools for economic stabilization

LO2: Analyze the effectiveness of intervention strategies

LO3: Evaluate policy measures used during economic crises

Topic 10: Functions and Influence of the Bank of Canada

Topic 10: Introduction

LO1: Define the role and functions of the central bank

LO2: Analyze how the Bank of Canada influences the economy

LO3: Evaluate its impact on inflation and interest rates

Topic 11: Trade Agreements and Economic Policy Development

Topic 11: Introduction

LO1: Describe key trade agreements and their objectives

LO2: Analyze how trade policies shape economic development

LO3: Evaluate the benefits and challenges of trade agreements

Topic 12: Overview of NAFTA and GATT in Trade Policy

Topic 12: Introduction

LO1: Define NAFTA and GATT and their purposes

LO2: Compare their roles in shaping global trade

LO3: Evaluate their impact on international business practices

Topic 13: Global Trade and International Business Dynamics

Topic 13: Introduction

LO1: Describe the fundamentals of global trade

LO2: Analyze factors influencing international business operations

LO3: Evaluate challenges and opportunities in global markets

Topic 14: Exchange Rates and Their Role in Global Trade

Topic 14: Introduction

LO1: Define exchange rates and their types

LO2: Analyze how exchange rate fluctuations affect trade

LO3: Evaluate their impact on business competitiveness

Topic 15: Central Banks and Economic Policy Implementation

Topic 15: Introduction

LO1: Describe the functions of central banks in policy implementation

LO2: Analyze monetary tools used by central banks

LO3: Evaluate their effectiveness in stabilizing economies