Industrial economics (2cr)

Evaluation scale

1-5

Objective

Upon completion of the course, students understand the issues associated with a company's production economics. The student is able to
- define the basic concepts of business operations, different types of business concepts in different fields, operational and revenue generation models
- analyse the meaning and purpose of creating and planning new business
- analyse the meaning and purpose of the different functions of existing business
- produce a business plan at least a theoretical level either individually or in a team

Content

- Productivity, growth, profitability, liquidity and financial solidity
- Fundamental business costs
- Investment calculations, budgeting, key ratios
- Forms and sources of financing
- Materials management
- Fundamentals of marketing
- Quality as part of production and general operations

Materials

Uusi-Rauva, Haverila, Kouri & Miettinen 2009 Teollisuustalous, Infacts johtamistekniikka oy
Martinsuo, Mäkinen, Suomala ja Lyly-Yrjänäinen 2016 Teollisuustalous kehittyvässä liiketoiminnassa (1. edition or newer), Edita Publishing Oy
Lecturer's material

Teaching methods

The lectures are carried out as remote learning via Teams. At the end of the course, a supervised exam is held in the classroom or alternatively in Exam. At the beginning of the course, an initial test is held, which determines the students' starting level and learning goals.
Learning in classes takes place as group work with the help of the subject, material and guidance provided by the teacher. Learning is deepened with lessons and exercises done at home. Case learning is applied as a teaching method.

Exam schedules

The exam shall take place on the last lesson

Student workload

Estimated workload of a student: app. 54 hours
Online lessons: 15 hours + exam 2 hours

Assessment criteria, satisfactory (1)

The student is able to identify and define the basic concepts of business competence and examine business activities by means of these concepts.

Assessment criteria, good (3)

The student is able to explain processes of business activities and produce examples and plans.

Assessment criteria, excellent (5)

The student is able to assess and analyse by means of concepts what he/she has learned. The student is able to present and apply process management. The student is able to apply the business competence theories he/she has learned in a goal-oriented and realistic way.

Further information

A part of material and tasks might be in English