Economics for Business Leaders: Practical Economic Tools to Grow Your Business
Course Code: SBSHWC_24043
This course opens with an evening reception at the Detroit Federal Reserve. It will educate executives on aspects of economics so they can understand how to navigate business market forces. It will provide post-election economic trend analysis from the Federal Reserve’s beige book to guide businesses as they navigate the macroeconomic landscape.
This course will be held in-person at the Detroit Federal Reserve (1600 E. Warren Ave., Detroit, MI 48207) with an opening banquette on November 12, from 3:00pm to 6:00pm and an all-day workshop on November 13, from 8:00am to 4:15pm. The course minimum is 10 people, and the capacity is limited to 50 people.
Participants will be given actionable economic trend data for Michigan small businesses, based on the Federal Reserve beige book. These data will empower Michigan businesses to navigate macroeconomic forces in 2025 and provide an analysis of factors learned from business leaders that advise the Federal Reserve (for their beige book), as well as trends expected after the presidential election. These are data that businesses need to compete and navigate a changing macroeconomic landscape, and this workshop will provide the data as it is released (the Federal Reserve beige book advisory committee meets on November 12).
This full-day course will also educate business executives on practical aspects of economics so they can understand how to navigate business market forces more effectively. This course has been offered in-house as leadership development for companies such as Uline and is taught by the nationally recognized authors whose content is used in the course.
Purpose
The goal of this short course is to present the fundamental concepts of practical economics that can help local business leaders to grow their businesses.
The objectives of the course are to:
1. Learn how the economic way of thinking – with its stress on choices, costs, incentives, systems, and gains from trade – can contribute to making better business decisions.
2. Identify specifically why some nations and communities are wealthy and others are not.
3. Recognize how understanding basic economic institutions is fundamental for all citizens to participate successfully in our economy.
4. Identify tools that improve understanding of the regional economy and basic economic statistics can help understand the context for growing a business.
5. Discern how the concepts and principles that enable business leaders to explain to employees and others how the operation of largely free-market economies contribute to the common good.
This course would be beneficial to CEOs, CFOs, founders, and presidents.
Point Value: 5