CIMA Fundamentals of Business Economics - BA1

Fundamentals of Business Economics - BA1

The ideal course for anyone interested in pursuing a career in management accountancy!

This unit, Fundamentals of Business Economics (BA1) is part of the CIMA qualification, Certificate in Business Accounting which you need to complete along with other units which leads to the ultimate qualification. As its name implies, Fundamentals of Business Economics (BA1) primarily focuses on Business Economics fundamentals within the context in which a business operates. The course also focuses on concepts related to international trade, the behaviour of financial markets, critical factors relevant to economic development and globalization, and basic concepts related to Data such as Big Data. Upon its successful completion the learners will gain an overall understanding of economic activities relevant to an organisation as well as grasp an understanding of economic principles in global context which will lead you to the CIMA certification. In addition this unit will be a prerequisite to the courses that proceeds in leading up to the Certificate in Business Accounting.

We provide 100% tailor made support to all our learners as we understand that each learner is quite unique in their ability. This is to make sure that all our learners succeed as ultimately learner’s success is our success. Furthermore the syllabus for this unit BA1 as well as the entire CIMA course is created by industry experts who have hands on experience in the industry.

So enroll today and reap rewards with our special offers and discounts as well.

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WHAT WILL I LEARN?

• Learn about economics and operating context of business
• Understand how financial markets and government economic policy can impact a company.
• Learn how factors of competition can influence an organisation
• Learn how to use information to evaluate and forecast the behaviour of consumers and markets

COURSE CURRICULUM

1: BA1 Fundamentals of Business Economics

Chapter 1 - National income, and the effects of economic growth rates and prices on business

• Introduction
• National Income
• Concepts Of National Income
• The Circular Flow Of Income
• Understanding The Circular Flow Model
• Outflows Of Cash
• Aggregate Supply And Aggregate Demand
• Aggregate Supply
• Equilibrium
• Inflation
• Inflation And Deflation

Chapter 2 - International trade

• Balance Of Payment
• Importance Of BOP
• Contents Of BOP
• The Accounts Of The BOP
• The Current Account
• The BOP Interaction With Key Macroeconomic Variables
• Absolute Advantage
• Comparative Advantage
• Advantages And Disadvantages Of International Trade
• Control Of International Trade

Chapter 3 - Economic development and globalization

• The Effects Of Globalisation
• Trade Agreements
• PESTEL

Chapter 4 – Organisations

• Introduction To Organisations
• Types Of Organisations
• Shareholders And Companies
• Measurement Of Company Performance
• Short-Run, Long-Run Performance
• Stakeholders
• The Principal-Agent Problem

Chapter 5 – Prices

• The Demand Curve
• Demand Curve
• Demand Curve Shift
• The Price Elasticity Of Demand
• Price Elasticity Of Supply
• Cross Elasticity Of Demand
• Market Equilibrium
• Demand-Curve Shifts

Chapter 6 - Market failure and the regulations of markets

• Introduction To Problems With Markets
• Monopolies
• Public Goods
• Externalities
• Minimum And Maximum Prices

Chapter 7 - Data and information

• Data
• Information
• Knowledge
• Tables, Charts And Graphs

Chapter 8 - Big data and data analysis

• What Is Big Data And Why Does It Matter?
• What Is Big Data Analytics?
• What Data Are We Talking About?
• How Is Big Data Different From Traditional Data Sources?
• The Business Value Of Big Data Analytics
• Applications Of Big Data Across Industry Sectors
• Data Scientist
• The Main Technological Components In A Big Data Ecosystem
• Summary

Chapter 9 - Financial markets and institutions

• Introduction
• Financial Intermediaries
• Banks As Financial Intermediaries
• Other Financial Intermediaries
• Financial Markets And Financial Instruments
• Central Banks
• The Structure Of Interest Rates
• Credit Creation By Banks
• Foreign Exchange Markets

Chapter 10 - Financial mathematics

• Simple Interest
• Compound Interest
• Compound Interest Formula

Chapter 11 - The effects of interest rates and exchange rates on business performance

• Definition And Types Of Exchange Rate Risk
• Measurement Of Exchange Rate Risk
• Management Of Exchange Rate Risk
• Hedging Instruments For Managing Exchange Rate Risk
• Hedging Practices By U.S. Firms
• Concluding Remarks

Syllabus Structure

• Macroeconomic and Institutional Context of Business
• Macroeconomic and Organisational Context of Business
• Informational Context of Business
• Financial Context of Business

Assessment

This is an objective test. The objective test must be passed in order for learners to complete the syllabus module. Additionally, learners who wish to progress to the CIMA Foundation Level qualification should also successfully pass this test.

Exam Details

This is a computer-based objective test. The test is made up of multiple choice, number entry and drag and drop question formats. Objective Test

• Format – Computer-Based
• Duration – 120 minutes
• BA1 – 60 objective test questions

(A score of 100 out of 150 will represent a Pass)

Objective tests - GBP95 (Tier 1 per exam)

Please Note : Official Exam is not provided, It should be purchased separately

Please note that the prices are subject to change by the The Chartered Institute of Management Accountants (CIMA) at any given time. The above price mentioned per objective test are at the time of writing only. You may check with the official CIMA website for latest updates in prices.

Access Duration

You will have 12 Months access to your online study platform from the date you purchased the course. The course is self-paced so you decide how fast or slow the training goes. You can complete the course in stages revisiting the training at any time.

Certification

Upon the successful completion of the unit Fundamentals of Business Economics - BA1, learners can advance to the next unit of the Certificate in Business Accounting (CIMA Cert BA) Or If the learner has already completed other units, can apply to the final exam of Certificate in Business Accounting (CIMA Cert BA).

• School leavers
• Small business owners
• Undergraduates and graduates
• Anyone with an interest in pursuing a career in management accountancy

The BA1 – Fundamentals of Business Economics does not require formal entry-level qualifications. Learners must be over the age of 16 and have basic knowledge in Mathematics, ICT and English Language.

Upon completing this module syllabus, you will be one step closer to having a career in business and finance. This module does not give you direct access to gain employment, you have the opportunity to take the rest of the 3 modules in the CIMA Foundation Level Certificate. A career in management accounting is waiting for you, and will provide a clear path to progress in your desired employment.