Kansantalous (5 cr)
Code: LX00BX49-3009
General information
Enrollment
02.05.2019 - 27.08.2019
Timing
27.08.2019 - 13.12.2019
Number of ECTS credits allocated
5 op
Mode of delivery
Contact teaching
Unit
Liiketalous
Campus
Leiritie 1
Teaching languages
- English
Seats
20 - 35
Degree programmes
- Degree Programme in International Business and Logistics
- Degree Programme in European Business Administration
Teachers
- Michael Keaney
Teacher in charge
Michael Keaney
Groups
-
LXC19_AHalf of LXC19 cohorts present, GROUP A
-
LXC19_BLXC19 cohorts present, GROUP B
-
LXA19All LXA19 cohorts present
Objective
The student will be able to:
- conduct analyses of business behaviour
- evaluate economic policy measures and economic forecasts
- relate economic variables to business strategy
- understand complexity of relationships between economic variables
Content
Introductory microeconomics
- supply and demand analysis
- market structures and industry analysis
- production and costs
- market failure
Introductory macroeconomics
- the circular flow of income
- fiscal policy
- money, interest and monetary policy
the relationships between macroeconomic variables and government policy
Assessment criteria, satisfactory (1)
Sufficient performance:
showing just enough understanding of the subject to merit a pass grade but requiring greater effort to achieve a more satisfactory result
Assessment criteria, good (3)
Good performance:
showing strong understanding of basic concepts and good grasp of techniques, but with certain minor problems still requiring further attention
Assessment criteria, excellent (5)
Excellent performance:
not only fulfils all standard requirements but demonstrates originality and imagination
Assessment criteria, approved/failed
Not applicable
Qualifications
None
Further information
Central to this course is the application of critical, analytical thinking. The identification and analysis of problems very often depends on the theoretical tools that we employ. Therefore also the limitations of these tools must be acknowledged. Economics provides many useful and illuminating concepts that give insights regarding the existence of market power and the persistence of market failure. Creating solutions to these problems often involves the critical evaluation of the tools used during this process. In this way we become more accustomed to recognising the bounded nature of our understanding. Equally, it is also possible, even necessary, to exploit our understanding's ability to adapt and develop.