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

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)

(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

-

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.