Industrial Economics (5 cr)

Evaluation scale

0-5

Objective

You understand the operation and management models of an industrial organization. You know the financial terms. You understand the differences between financial and real processes. You are able to interpret the financial statements and analyze the state of a company by utilizing financial KPI's. You are able to calculate costs and price a product or a service. You understand the basics of investment calculations and the concept of payback period. You have an understanding of the cost effects of asset management.

Knowledge and understanding:
You understand the significance of profitability and financial solidity for a company and their connection to product and project costing.

Multidisciplinary competences:
You are able to utilize economical knowhow in varying situations.

Content

Management, Financial accounting, Management accounting, Business game and Project work.

Location and time

Contact teaching is on the Rajakatu campus. Distance learning and guidance is available in JAMK's e-learning environment and through the Zoom video conference system.

Materials

The study material is in JAMK's e-learning environment. In addition, one of the following books is required as supplementary material.
- Lehtonen, J-M. Tuotantotalous. ISBN 951-0-28104-2 tai 978-951-0-28104-8.
- Uusi-Rauva, E. Kouri, I. Miettinen, A. Haverila, M. 2009. Teollisuustalous. Tampere: Infacts johtamistekniikka. ISBN 978-951-96765-6-2.

Teaching methods

The course is implemented flexibly as a multi-form training, mainly as online studies. So you can study successfully according to your own plan and schedule. With a group and individual guidance, you get support to solve the problems and complete exercises.

The course utilizes digital and interactive tools. E-learning includes e.g. online discussions with a group or teacher, assignments and tests in an e-learning environment to assess and develop your own skills and learning, video lectures and self-study of source material.

E-learning is suitable for self-directed students who are interested in developing their own skills. The wishes of the student group are taken into account in the implementation methods. In addition, as a group of students, there is guidance in an e-learning environment and you can participate in online meetings of your choice. If you wish, you can also make appointments on your own and do learning assignments together, advising and receiving help and tips from other members of the group.

Exam schedules

The deadline for returning assignments is 31.12.2020.
The business game is organized according to the timetable of the study group. You can also participate in another group business day.

Contact the teacher to agree on renewals.

Completion alternatives

The course is evaluated as a process evaluation, including:
  - Tasks and tests of the e-learning environment
  - Independent assignments
  - Business game
  - Lesson activity.

The completion of the course can be constructed in part or in full as a personal study path via studification the activities that are part of your work.

Student workload

Contact teaching is 24 h, of which the Business Game is 8-12 h.
Independent work is 111 h, which includes guidance in the e-learning environment and through the Zoom online working environment.
The total workload and the need of time is 135 h.

Assessment criteria, satisfactory (1)

(1)
You are able to price a product. You know some terminology and part of the other contents of the course. You lack some of the knowledge and skills.

(2)
You are able to price a product. You know some terminology and part of the other contents of the course.

Assessment criteria, good (3)

(3)
You understand the essential subjects of the course. You are also able to interpret the key performance indicators of a company and you understand the essentias of financial accounting and management accounting.

(4)
You master the essential subjects of the course. You are also able to interpret the key performance indicators of a company and you understand the essentias of financial accounting and management accounting. You are able to make investment calculations and a budget.

Assessment criteria, excellent (5)

(5)
You are able to handle the accounting of a company or a project. You master the costing and are able to implement your knowledge in practice. You master the budgeting and investment calculations. You are able to make decisions based on the financial details.

Qualifications

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