Identify Your Market Drivers with Micro-Economics

This course is for anyone who buys goods and services

Anyone purchasing goods and services needs to understand the supply, demand and price dynamics of his or her market. The fundamentals of supply, demand and prices can change quickly through events such as weather, currency movements, economic recessions, politics, technology, speculation, health scares, war, global warming, crime etc. However, all markets are prone to generating myths as to what factors drive the market which can result in poor purchasing decisions.

To avoid this, buyers need to understand how basic economic principles apply to their market and use statistical thinking to analyse market data so as to identify the key market drivers. In this course, using a mixture of stimulating discussions and real-life case studies, you will learn the 4 skills needed to identify the 3 most important drivers of your market which are.

• Economics - how to identify and understand the key drivers of a market

• Information - where to find data on market drivers and assess its quality

• Statistics - how to analyse data on market drivers and to forecast the future

• Decision Making - how to use your analyses and forecasts to make trading decisions

The course uses a process called Market Drivers' Mapping to build a map of your market that shows how the various drivers interact with each other. This forces you to put all your assumptions on a map according to well known economic principles. Before long you can quickly identify the important relationships, analyse the relevant data and make buying decisions based on reality as opposed to myths.