Valid for: 2023/24
Faculty: Faculty of Engineering, LTH
Decided by: PLED I
Date of Decision: 2023-04-14
Main field: Technology.
Compulsory for: I1
Elective for: C4, D4, RH4
Language of instruction: The course will be given in Swedish
The aim of the course is to give a general economic overview. The students should, from an economic perspective, arrive at an understanding of the interplay of the various part systems in the enterprise. The course is intended to give a basic ability to understand and utilize economic and business concepts. Basic models used in this context are also included in the course. Relying on this basic knowledge, the students must be able to form judgements taking into account the whole of the enterprise. Special stress is laid on the basic knowledge of economics, which will be necessary in the professional life of a Master of Engineering Science.
Knowledge and understanding
For a passing grade the student must
Competences and skills
For a passing grade the student must
Judgement and approach
For a passing grade the student must
The course focuses on basic concepts and models to understand and manage financial, organizational and managerial issues in technology-based and industrial operations as an engineer.
The course consists of four modules.
Module 1: Industrial economics and value creation concerns the areas of technology development as a competitive factor, technology-based business models, strategy and marketing, production and product development as well as organization and HRM.
Module 2: Product Costing and Investment Assessment begins with the basic concepts of cost and revenue analysis, followed by profit planning models that describe how these basic economic concepts are affected by volume. Product costing deals with basic cost calculations and contribution calculations. The module ends with investment assessment, here the four statistical models are touched upon in detail.
Module 3: Financial accounting and financing is of central importance for gathering data for various calculations and models. How the financial information is stored in a company is conveyed through the areas of bookkeeping and accounting. Understanding the company's annual report and being able to carry out an accounting analysis and calculation of the company's capital needs completes the courses. The learning objective of this module is to understand the basic principles of bookkeeping, accounting and capital requirements calculation.
Module 4: Project focus on new models created arising out of contacts with prefessional engineurs and with understanding given to business conditions and challanges. Oral and written capability are trained.
Grading scale: TH - (U,3,4,5) - (Fail, Three, Four, Five)
Assessment: The final grade 4 for the course Industrial Economics AK is achieved when the course's four mandatory parts are approved: practical case assignments 1,2,laboratory and article portraying the situation of an entrepreneur. If a higher grade is subsequently desired, a written examination (examination) is required.
The examiner, in consultation with Disability Support Services, may deviate from the regular form of examination in order to provide a permanently disabled student with a form of examination equivalent to that of a student without a disability.
Parts
Code: 0118. Name: Examination.
Credits: 6. Grading scale: TH. Assessment: Approved examination, containing both theoretical questions and problem solving.
Code: 0218. Name: Assignment.
Credits: 3. Grading scale: UG. Assessment: Approved popular scientific article.
Code: 0318. Name: Case.
Credits: 0. Grading scale: UG. Assessment: Prepared assignment and participation in a case discussion.
The number of participants is limited to: No
The course overlaps following course/s: MIOA12, MIO012, MIO080, MIOA15
Director of studies: Ingela Elofsson, ingela.elofsson@iml.lth.se
Course coordinator: Carole Gustavsson, carole.gustavsson@iml.lth.se
Course homepage: http://www.pm.lth.se
Further information: This course may not be part of the end degree together with the courses MIO012,MIOA12 or MIOA15.