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This is a continuation of Fundamentals of Business I. It explores other key functional areas and aspects of business including international trade, financial institutions, documents and methods of payment used in business, securities market, insurance, foreign exchanges market, money and monetary policies. Emphasises is laid on how these institutions help promote businesses and economic development.
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The course deals with different approaches used to measure national income, problems encountered in the measurement of national income. It focuses on the determination of national income, concept of multiplier for closed as well as open economies. It emphasises on the accelerator principle, inflation and unemployment. It also discusses theories of money, fiscal and monetary policies as well as the effect of government and international policies on the national economy.
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