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

Spring semester 2025.

Materials

Recommended books, learning environment materials and references used in learning assignments.

Recommended books:
Martinsuo ym. Teollisuustalous kehittyvässä liiketoiminnassa
Seppänen, H. Yrityksen analysointi ja tilinpäätös
Pellinen J. Kustannuslaskenta ja kannattavuusajattelu
Järvenpää, M. Talousohjaus ja kustannuslaskenta
Neilimo, K. Johdon laskentatoimi

Teaching methods

This course is for mechanical engineering students, group code TKN23SA and TKN23SB.
Contact lessons at JAMK's main campus, Rajakatu.
Face-to-face learning, group works and individual assignments.

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 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

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