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There are different ways to look at society, one of which is from the economic perspective. The main question economists try to get their heads around is: ‘how do individuals, firms and governments decide on allocating scarce resources to satisfy their wants and needs, and how can these decisions be coordinated through markets?’ Economists ask questions such as: ‘should governments regulate financial markets, given their importance for the economy as a whole?’ or ‘which key factors are responsible for the phenomenon by which countries with a highly skilled labour force, like the Netherlands, mainly export goods produced by this labour force and import goods that require fewer skills? What are the benefits and consequences?’
They may also seek to find answers to questions such as: ‘how is the market price of potatoes affected by limited supply following a bad harvest?’ and, in turn, ‘what does this imply for the household consumption of French fries or rice?’, or ‘suppose a firm needs capital in order to finance an expensive investment project. Should it issue new shares or borrow money from a bank?’
It is possible to distinguish between economists and business economists – but it is a broad distinction. An economist uses models to analyse decision-making by economic agents and studies the implications of these decisions from market, national and international perspectives. A business economist focuses on how to organize and run a company from an economic point of view.
Is this the programme
Are you interested in economic problems and do you have a reasonable talent for mathematics? Are you curious about the way in which organizations and companies operate? Are you open and do you easily adapt to cultural differences? And are you comfortable with the prospect of studying abroad? Then Economics and Business Economics may be the right choice for you!
What is Economics and Business Economics?
Global trade and income inequality
Economic problems from different angles
You can look at economic problems from different angles. When a firm receives a patent it obtains a monopolistic position which allows it to charge a higher price for its product. Is this good or bad from an economic point of view? Europe recovers only slowly from the economic crisis. Is quantitative easing of the European Central Bank a sound solution? What might stimulate people to contribute more to the economy? What is the key factor in a firm’s success? Finding opportunities in foreign markets, or investing in innovative techniques and approaches?
How do organizations make decisions? How do firms behave within different types of markets? How can we look at global topics such as the financial crisis and international business strategies from different perspectives?
What is Economics and