Valid for: 2023/24
Faculty: Faculty of Engineering, LTH
Decided by: PLED I
Date of Decision: 2023-04-14
Main field: Technology.
Compulsory for: E2, F3, M1, MD1, Pi2, V2, W3, R2
Elective for: BI4, C4, D4-se, IBYA3, IBYI3, IBYV3, IDA3, IEA3, N3, RH4
Language of instruction: The course will be given in Swedish
The purpose of the course is to provide an overall orientation and perspective on the subject area of industrial economics. Based on an economic perspective, the students must gain an understanding of how different subsystems in the company work together. The course aims to provide basic ability to understand and use the financial and business concepts. The basic models used in these contexts are also included in the course. Based on these basic skills, the students must make assessments with regard to the company as a whole. Special emphasis is placed on the basic knowledge in industrial economics that will be necessary in the professional activities of a civil engineer.
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 three 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.
Grading scale: TH - (U,3,4,5) - (Fail, Three, Four, Five)
Assessment: The final grade 3 for the course Industrial Economics AK is achieved when the course's three mandatory parts are approved: practical case assignments 1,2 and laboratory. 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: Managerial Economics, Basic Course.
Credits: 6. Grading scale: TH.
Code: 0218. 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: MIO012, MIO080, MIOA01, 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 Master degree together with the courses MIOA12, MIOA15, MIO012 or MIOA01.