Economics (5cr)
Code: R301DL50OJ-19002
General information
- Enrollment
- 16.03.2020 - 06.09.2020
- Registration for the implementation has ended.
- Timing
- 01.08.2020 - 31.12.2020
- Implementation has ended.
- Number of ECTS credits allocated
- 5 cr
- Virtual portion
- 5 cr
- Mode of delivery
- Distance learning
- Campus
- Rantavitikka, Jokiväylä 11, Rovaniemi
- Teaching languages
- English
- Degree programmes
- International Business
Evaluation scale
H-5
Content scheduling
• Microeconomics
Supply and demand
Markets and competition
• Macroeconomics
National economy
Inflation
Labour markets
Fiscal and Monetary policy
Economics Growth
International trade
Objective
The student understands the basic concepts of economics.
He/she knows the difference between micro and macroeconomics.
The student understands the fundamentals of microeconomics; supply and demand and the connection to market prices.
He/she understand the basic of macroeconomics and knows some of the key macroeconomic indicators.
The student is able to understand the connection between business and economics.
Competences: Economics and Financial Management competence
Content
- Microeconomics
- Supply and demand
- Markets and competition
- Macroeconomics
- National economy
- Inflation
- Labour markets
- Fiscal and Monetary policy
- Economics Growth
- International trade
Location and time
Autumn 2020
September to November
Materials
The Economy from the Corecon.
Can be found free online: https://core-econ.org/the-economy/book/text/0-3-contents.html
Other material given in Moodle
Teaching methods
Virtual lectures is Adobe Connect. Possible case studies, reading assignments. etc.
Exam schedules
Information is given in Moodle.
Student workload
5 credits = 133 hours of work for student
Lectures 36 h
Preparing for lectures 12 h
Assignments 40 h
Exam 45 h
Assessment criteria, satisfactory (1)
Level 1
Economics:
The student knows the difference between micro and macroeconomics and is able to identify key macroeconomic indicators.
The student understands the circular flow of economy and is able to describe cause-and effect relations in economy.
He/she understands the main terms, indicators of economics and the connection between business and economics.
Level 2
Economics:
The student understand the differences between micro and macroeconomics and understand the use of key macroeconomic indicators.
The student understands the circular flow of economy and is able to describe and give examples of cause- and effect relations in economy.
He/she understands the main terms, indicators of economics and is able to create and describe connection between business and economics.
Assessment criteria, good (3)
Level 3
Economics:
The student knows how to analyse cause and effect situations in relation to economics.
He/she is able to compile, and study reports related to national economy.
He/she is able to justify why economical changes are relevant to business.
Level 4
Economics:
The student knows how to analyse, describe cause and effect situations in relation to economics.
He/she is able to analyse reports related to national economy.
He/she is able to utilize and justify why economical changes are relevant in business and foresee some business opportunities based on the current economic situation.
Assessment criteria, excellent (5)
Level 5
Economics:
The student is able to analyse the current national and global economic situation.
He/she is able to use both micro and macroeconomic information to create analysis of the current business environment.
He/ she has excellent understanding of the connection between business and economics.
Qualifications
NULL