Business EconomicsLaajuus (4 ECTS)

Objective

Upon completing this course the student will:

- recognise scarcity and choice as the sources of market power
- understand how companies create and exploit market power
- understand the various types of intra-industry competition
- understand the impact of market structures on business behaviour
- relate key economic concepts to consumption and business practices
- understand the relationships between macroeconomic variables
- understand the impact of economic policy on consumption, firms and industries
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Students will be able to
- explain key concepts and ideas of economics
- conduct economic analysis of price and cost changes
- interpret critically market surveys and economic forecasts
- evaluate economic policy measures and their impact on market sentiment
- relate economic variables to industries and their location/growth
- define main ideas behind economic policy measures

Content

Introductory microeconomics
- supply and demand analysis
- elasticity
- market structures
- production and costs
Industry analysis and firm strategy
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Lectures, group projects