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Economics (5 cr)

Code: LB10018-3001

General information


01.10.2022 - 03.02.2023


13.02.2023 - 14.05.2023

Number of ECTS credits allocated

5 op

Mode of delivery

Contact teaching


Wärtsilä Campus Karjalankatu 3

Teaching languages

  • English


20 - 50

Degree programmes

  • Degree Programme in International Business


  • Teppo Tarnanen

Teacher in charge

Teppo Tarnanen


  • LBNS22
    Bachelor of Business Administration, International Business, Fall, 2022


You understand basic phenomena in an economy, and how different groups of economic actors (consumers, firms, the public sector) interact and influence each other. You understand determination of a market price in the interaction of demand and supply. You understand principles of economic policy (fiscal policy, monetary policy). You understand the importance of internationalisation and globalisation for an open economy such as Finland.

You are able to use the basic concepts of economics accurately. You are able to use the demand and supply framework. You are able to identify different competitive situations in a market. You are able to analyse a current economic situation and trends using relevant indicators and evaluate their impact on a given industry. You are able to search for additional information on the subject matter from relevant sources.


- Basic micro and macro economic phenomena and related terminology
- Functioning of a market
- Demand and supply analysis
- Principles of economic policy (fiscal policy, monetary policy)
- Opportunities and threats of internationalisation and globalisation
- Exchange rate, trade and competitiveness


Material in Moodle. Other material specified in the beginning of the course.

Teaching methods

Students will familiarise themselves with basic micro and macro economic phenomena, learn to assess their relevance from the point of view of a firm and an industry, and learn to use terminology correctly. Examples of content items: functioning of a market, demand and supply analysis, principles of economic policy (fiscal policy, monetary policy), opportunities and threats of internationalisation and globalisation, competitiveness of a country.

Evaluation scale