Economics (5 cr)
Code: LC00FE32-3002
General information
Enrollment
04.12.2023 - 07.01.2024
Timing
15.01.2024 - 31.07.2024
Number of ECTS credits allocated
5 op
Mode of delivery
Contact teaching
Unit
School of Business
Campus
Leiritie 1
Teaching languages
- English
Seats
20 - 35
Degree programmes
- Degree Programme in International Business and Logistics
Teachers
- Michael Keaney
Teacher in charge
Suvi Moll
Groups
-
LXC23_AHalf of LXC23 cohorts present, GROUP A
-
LXC23_BHalf of LXC23 cohorts present, GROUP B
Objective
The student is able to
* conduct analyses of business and buyer behaviour
* evaluate economic policy measures and economic forecasts.
* relate economic variables to business strategy
* understands complexity of relationships between economic variables
* understand the wider social and environmental impact of business and consumer decisions.
Content
Introductory microeconomics
-supply and demand analysis
- market structures and industry analysis
- production and costs
- market failure
Introductory macroeconomics
- the goals of economic policy
- the circular flow of income
- fiscal policy
- money, interest and monetary policy
- the relationships between macroeconomic variables and government policy
Evaluation scale
0-5
Assessment criteria, satisfactory (1)
The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.
Assessment criteria, good (3)
The student has achieved the course objectives well, even though the knowledge and skills need improvement on some areas. The student is able to define the course concepts and models and are able to justify the analysis. The student is able to apply his/her knowledge in leisure, study and work situations. The student understands the importance of expertise in the field of business and is able to analyze his/her own expertise.
Assessment criteria, excellent (5)
The student has achieved the objectives of the course with excellent marks. The student masters commendably the course subject area’s concepts and models. The student is able to make justified and fluent analysis and to present concrete development measures. The student is well prepared to apply his/her knowledge in leisure, study and work situations. The student is able to analyze the business sector expertise and the development of his/her own expertise.
Assessment criteria, approved/failed
The student has achieved the course objectives fairly. the student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.