- Code
T.49376
- Credits
3
The environment in which an organisation finds itself is in a flux of constant change, which is why it is of great importance that HR professionals have knowledge and insight into the influence of the economy on the employment market and the organisation. The (HR) challenges to contribute to the realisation of the organisational objectives happen in quick succession and are the result of many different backgrounds. The economy and economic policy is one of the factors that has a major impact on both the employment market and the ins and outs of organisations. Globalisation can lead to strong competition, extra investment or even mass dismissal. Whether cutbacks that lead to less job opportunities and lower benefits may also lead to increased creativity and new start-ups. This module is not only about (testing) knowledge but also about understanding connections, being able to think in terms of cause and effect and forming an opinion on various themes.
| Test Form | Digitaal/Digital (D) |
|---|
Test criteria
After completing this module...
- Gain knowledge and insight into the (economic) environmental factors of the employment market and the consequences of these factors
- Know the meaning of a number of important economic terms like production, consumption and production factors, analysis of environmental factors
- Can you describe the operation of the market mechanism (question, offer, elasticity) and the factors that work against the market mechanism? Are you aware of different ways in which the government can intervene in the market?
- Can you describe the economic cycle and do you know the concepts of national income, national product, added value and the gross domestic product?
- Do you know your supply and demand at macro level, structural elements and economic elements?
- Do you know the concepts needed to analyse the job market, such as employment force, participation rate, working years, employment volume, etc.
- Do you know the concepts needed to analyse cyclical and structural unemployment?
- Do you have knowledge of and insight into the consequences of inflation for organisations and economy?
- Can you distinguish between the different types of inflation, the factors that cause inflation and can you name measures to combat inflation?
- Are you aware of the influence of globalisation and the EU on the economy and the employment market?
- Can you state which role the government plays in the economy, in particular regarding the functions they fill, the objectives they try to achieve and the course of the budget cycle?
- Do you know the social security and tax systems and their significance for the economy and the employment market?
- Do you know economic policy, including the employment market policy?
- Do you know the relationship between payroll tax, pay slips and income tax? Complete the module by means of a written test with closed (60%) and open (40%) questions. The closed questions assessment knowledge of and insight into basic economical terminology. The open questions are on two of the five topics covered during the tutorials.