ABSTRACT
This chapter looks at economics, wealth and well-being and its relevance to the world of Occupational Safety and Health (OSH) along with financial management and the importance of understanding the role of the finance department and financial metrics. It explores the principles of economics and its relevance to OSH and explains the areas of macroeconomics and microeconomics within the context of OSH. The branch of economics considers the behaviour of individuals and firms in making decisions regarding the allocation of limited resources. The chapter shows that what is meant by the changing world of work and the OSH challenges created. It considers financial management and the importance of developing knowledge in finance and illustrates a range of financial management tools to help present OSH as an investment as opposed to a cost. One of the key areas that many OSH practitioners need to strengthen understanding is financial management.
