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CB2 – Business Economics
3 sections available · 21 chapters available
Free CB2 – Business Economics study notes for IFoA (Institute and Faculty of Actuaries) students. Each chapter below covers a key topic with worked examples and practice prompts you can take into the thinka app.
Economic schools, the economic way of thinking and recent historical applications
Relationship between economics and business
Main economic schools and their key features
Recent macroeconomic history
Microeconomics – the behaviour of consumers, firms and markets
How competitive markets operate
Consumer demand and behaviour
The impact of advertising on sales and demand
Impact of the production function, costs of production and revenue and profit on a firm's price and output decisions
Profit maximisation under perfect competition and monopoly
Profit maximisation under imperfect competition
Pricing strategies that firms in the financial services sector can adopt
Macroeconomics and the role of government
Government intervention in a market
Relationship between the government and the individual firm
Globalisation and multinational business
Importance of international trade
Impact of the macroeconomic environment on business
Balance of payments and the determination of exchange rates
Role of money and interest rates in the economy
Role, structure and stability of the financial system
Factors that determine the level of business activity and how they also affect unemployment and inflation
Impact of macroeconomic policies on businesses
Supply-side policies and their impact on businesses
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