Curricula

Objective

Purpose:
Basic skills for mechanical engineering professionals are to understand fundamentals of economics and business, as well as to have ability to analyze and make sound decisions. On this course you will develop and improve these skills and will get readiness to put your learning outcomes into practice.

Competences:
Business competences, Engineering practice utilizing digital technology, Communication and team-working

Learning outcomes:
You will get basic knowledge of business economics. You will recognize different economical calculations used for planning and controlling of operations. You will know essential cost factors and pricing principles from manufacturing and inventory holding perspective as well as fundamentals of working capital in businesses.

Content

Accounting principles, profitability and cost calculations, cost factors and pricing principles in the field manufacturing and inventory operations.

Qualifications

Basics of mechanical engineering

Assessment criteria, satisfactory (1)

Adequate 1:
You know the basics of business economics and understand the financial calculations that support the planning and management of the company's operations. You know the key cost factors of the manufacturing industry and the principles of pricing.

Satisfactory 2:
You know the basics of business economics and understand the financial calculations that support the planning and control of the company's operations, and you know how to use them in basic cases. You know the key cost factors of the manufacturing industry as well as pricing principles and know how to choose technical solutions using calculations.

Assessment criteria, good (3)

Good 3:
You understand the basics of business economics and the financial calculations that support the planning and management of the company's operations, and you can interpret them. You know the key cost factors of the manufacturing industry as well as pricing principles and know how to choose technical solutions using calculations. You understand the key business and financial principles related to the operation of the organization.

Very good 4:
You understand the key business and financial principles related to the organization's operations and know how to use established analysis methods in decision-making. You have the ability to work effectively as an individual and as a team member.

Assessment criteria, excellent (5)

Excellent 5:
You know how to apply and analyze financial calculations that support the planning and management of the company's operations. You can analyze the industry's key cost factors and pricing principles..