Study Guide

Objectives

After completing the course, the student
- understands essential concepts and theories in industrial economics and business and have the capability to apply these concepts practically across various industries
- understands the internal operations of companies and can analyse their decisions and solutions from a strategic and profitability standpoint.
- understands the cost structure of a company and is able to apply simple pricing, budgeting, cost calculations and knows the key metrics of profitability.
- is able to compare the cost-effectiveness of different investments.
- knows the content and relevance of a quality management system and enterprise resource planning (ERP) for companies.

Content

Key principles in industrial economics.

Assessment criteria, satisfactory (1-2)

Demonstrates basic understanding of key concepts and theories in industrial economics and business. Can apply these concepts in a simple manner across various industries. Understands the basic internal operations of companies and can analyze their decisions from a fundamental strategic and profitability perspective. Has a rudimentary grasp of a company's cost structure and can perform simple pricing, budgeting, and cost calculations. Knows the basic principles of quality management systems and enterprise resource planning (ERP), but may lack depth in practical application. Participates in independent and group work, showing basic competency.

Assessment criteria, good (3-4)

Shows a solid understanding of essential concepts in industrial economics and business, applying these effectively in practical scenarios. Analyzes internal operations of companies and their strategic decisions proficiently from both strategic and profitability standpoints. Capable of applying pricing, budgeting, cost calculations, and understands key profitability metrics. Competently compares the cost-effectiveness of different investments. Understands and can discuss the relevance of quality management systems and ERP for companies. Actively engages in and contributes to both independent and group work, demonstrating good analytical and practical skills.

Assessment criteria, excellent (5)

Exhibits in-depth knowledge and comprehension of industrial economics and business theories, applying them innovatively across various industries. Expertly understands and analyzes the internal operations of companies, making insightful assessments from strategic and profitability perspectives. Demonstrates advanced skills in pricing, budgeting, cost calculations, and has a thorough understanding of profitability metrics. Skillfully compares and evaluates the cost-effectiveness of various investments. Has a comprehensive understanding of quality management systems and ERP, demonstrating an ability to apply this knowledge practically. Leads and excels in both independent and group work, showing exceptional analytical and strategic skills.