Industrial Economics (5cr)

Evaluation scale

0-5

Objective

Purpose:
Basic skills for experts and managers are to understand fundamentals of economics and business, as well as to have ability to analyze and make wise 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, Communication and team-working.

Learning outcomes:
You will internalize the basics of financial management and learn to prepare financial calculations that support the planning, decision-making, and management of a company's operations.

Content

Accounting principles, profitability and cost calculations, financial impacts of procurement, investment calculations.

Location and time

Autumn semester 2024

Materials

According the information described on course description, learning environment materials and references used in learning assignments

Recomended readings:
Martinsuo ym. Teollisuustalous kehittyvässä liiketoiminnassa
Haverila ym. Teollisuustalous
Talousohjaus ja kustannuslaskenta
Johdon laskentatoimi
Management accounting for business

Teaching methods

This course is for mechanical and energy technology engineering programs. Teaching takes mainly place online. Contact lessons once at JAMK's main campus, Rajakatu.
Face-to-face learning and distance learning, group works and personal assignments.

Employer connections

Real life examples and assignments partly based on real-life business data.

Exam schedules

Exam date will be informed in the beginning of the course

Completion alternatives

The admission procedures are described in the degree rule and the study guide. The teacher of the course will give you more information on possible specific course practices.

Student workload

One credit corresponds to an average of 27 hours of work, which means that the load of four credits is 108 hours and five credits is approximately 135 hours.

Assessment criteria, satisfactory (1)

Adequate 1:
Student has gained knowledge at all the subjects described in the learning outcomes.

Satisfactory 2:
Student has gained knowledge at all the subjects described in the learning outcomes and is able to gather and interpret relevant data in order to select technical solutions.

Assessment criteria, good (3)

Good 3:
Student has gained knowledge at all the subjects described in the learning outcomes and is able to understand essential fundamentals of economics related to business.

Very good 4:
Student has gained knowledge at all the subjects described in the learning outcomes and is capable to utilize general analyzing methods for decision making. Student can work effectively as an individual and as a member of a team.

Assessment criteria, excellent (5)

Excellent 5:
Student has gained knowledge at all previous levels and is capable to evaluate and reflect personal learning outcomes.

Qualifications

-

Further information

Moodle has assignments by theme with scoring. Exercise calculations in calculators to support learning. They are not scored, but you get a good set of usable Excel templates with you from the course.