Economics and Business Management

About Business Management

What Is Business Management?
Business management is a rigorous and dynamic discipline that examines business decision-making processes and how these decisions impact on and are affected by internal and external environments.

It is the study of both the way in which individuals and groups interact in an organization and of the transformation of resources.

Why Study Business Management?
Business Management provides students with the skills to make sense of the circumstances that drive change in an interdependent and multicultural world. Emphasis is placed on the ideals of international cooperation and responsive citizenship.

Management jobs are typically complex and require a range of different skills. Certainly it is crucial that managers are able to communicate with, motivate and develop their staff successfully because human beings are quite literally an organisation’s most important resource.

Quantitative ability in terms of producing or interpreting accounts, running budgets, making investment decisions and monitoring headcount is also important for managerial work. A grasp of the relevant legislation also helps managers to ensure that their organisation is always functioning well within legal limits.

Finally, the only certainty in a global and highly competitive economy where developments in information technology have arguably rendered geographical distance irrelevant, so sensitivity to the environment and the ability to manage change are also key competencies in the managerial portfolio.

The Importance of Business Studies
Business Studies looks at the way Businesses work, thrive and become successful. It is one of the most interesting subjects in that it combines theory with real life case studies. Indeed, the proliferation of business news on TV, newspapers and other media has made this one of the most important areas in today’s world. Most people either consciously or unconsciously have a vested interest in the business world and this highlights the importance of Business Studies as a subject.
The study of Business provides the opportunity to understand how businesses work and why some businesses succeed and others fail. Business Studies allows students to become discerning and logical in their thinking. It gives them the ability to pursue independent research in a meaningful way and make reasoned judgments.

Aims of Business Management 

The aims of the business management course are:

· promote the importance of exploring business issues from different cultural perspectives
· encourage a holistic view of the world of business
· enable the student to develop the capacity to think critically about individual and organizational behaviour
· enhance the student’s ability to make informed business decisions
· enable the student to appreciate the nature and significance of change in a local, regional and global context
· promote awareness of social, cultural and ethical factors in the actions of organizations and individuals in those organizations
· appreciate the social and ethical responsibilities associated with businesses operating in international markets.

About Economics

What Is Economics?

Economics is the study of how people choose to use resources.

Resources include the time and talent people have available, the land, buildings, equipment, and other tools on hand, and the knowledge of how to combine them to create useful products and services.


Why Study Economics?

– It develops the critical and analytical skills for understanding economic problems and institutions.

– It provides an academic background which enables students to succeed in positions in industry and government and to pursue further study at the graduate level.

– Economists provide valuable assistance in analyzing and interpreting the impact of the business cycle, government policies and international developments on consumer demand, prices, costs and competitive pressures, and financial conditions.


The Importance of Economic studies

Economic studies are important in many respects:

– Economic activity is man’s predominant and essential activity.

– The laws of every society are the result of its economic conditions and development.

– People’s customs and the Way of thinking in every society are the product of their economic conditions and development.

– Man’s material and spiritual progress is dependent on his economic conditions.


Aims of Economics

To develop in students:

– An understanding of fundamental economic principles, theories and concepts, and of the methods of inquiry used by an economist;

– The ability to use the tools of economic reasoning to explain, analyse and resolve economic issues, and evaluate policy decisions;

– The habit of reading critically, from a variety of sources, to gain information about the changing economic activities and policies at the national and international levels;

– The ability to use evidence in making rational arguments in economic context and understand the role of the various economic agents.



Name Subject Email
Mr Bernard Low (Dean) Economics
Ms Angela Ong (Deputy Dean) Business Management
Ms Ivy Quek (Deputy Dean) Economics
Ms Alice Tan Economics
Ms Annie Tan Business Management
Ms Diana Chng Economics
Mr Ismail Shifaz Business Management
Mr James Ong Economics
Ms Juliana Tengara Economics
Ms Karen Dorton Economics
Mr Wong Hin Pong Ryan Business Management
Mr Mahtani Naresh Gangaram Economics
Mr Peter Dumortier Economics
Ms Noh  Hee  Jung Economics
Ms Seraphim Hazel Ho Li-Jun Economics



Click on the links below to download the curriculum.

Business Management

Economic Subject Outline


EDB Economics Short Film Competition

The EDB Economics Short Film Competition is jointly organised by EDB and ACS (Independent).

2016 EDB Economics Film Competition Poster

The categories are:

  1. Most Creative Short Film
  2. Best Technical Quality
  3. Excellent Demonstration of Economic Content
  4. Best Performance in the Spontaneous Round
  5. Students’ Choice Award (Based on the votes from the audience)

The 2016 EDB Economics Short Film Competition will be held on Friday 29 April 2016.

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