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. painos tai uudempi), Edita Publishing Oy

Teaching methods

The study involves contact teaching and requires attendance at the SEAMK campus.
The course is conducted in the Moodle learning environment. The course requires independent work and scheduling.

At the end of the course, a supervised exam will be held in the classroom. At the beginning of the course, a preliminary test will be given to assess the students’ initial level and learning objectives.
Learning during the lessons takes place through individual or group work based on topics, materials, and guidance provided by the teacher. Short lecture sprints are held for the theoretical sections. Learning is further reinforced through exercises completed both in class and at home.
The lessons are not recorded.

Exam schedules

The exam date will be announced at the beginning of the course. Information regarding the resit exam will be provided separately

Student workload

Estimated student workload: approximately 54 hours (including 19 hours of lectures and a 2-hour exam)

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.