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Master's Degree Programme in Risk Management and Circular Economy (Business)

Degree:
Master of Business Administration

Degree title:
Master of Business Administration

Credits:
90 ects

Qualification Awarded and the Level of Qualification

The qualification awarded is Master of Business Administration. The programme corresponds to the competence framework described in European Qualification Framework (EQF) and the National Quality Framework (NQF). The master’s degree corresponds to the competence level 7.

Contact Information

Head of Degree Programme
Pauliina Mansikkamäki

Special Admission Requirements

Master's degree is designed for people who have the minimum of a Bachelor’s degree at and at least two years of work experience in a relevant field after graduation. General admission criteria see TAMK’s websites.

Recognition of Prior Learning

Credit transfer allows the student to apply for recognition of previous higher education to the studied degree, if they meet the competence objectives of the degree programme.
Credit transfer follows the specific policies and procedures of TAMK.

Profile of the Programme

Climate change, the loss of biodiversity and over-consumption of raw materials requires professionals of a new kind with awareness of planetary boundaries, a solution-centric and change-agent’s mindset to lead the change towards a more sustainable future.

The Master's Degree in Risk Management and Circular Economy (RiMCE) brings together students with diverse educational, professional, and cultural backgrounds. Collaborative learning in multidisciplinary and intercultural teams give students competence valued in modern working life.

RiMCE programme focus on specialized knowledge of the circular economy theories, principles, and practices and how circular economy and risk management are interconnected. The studies focus on circular economy value chains and the consumer engagement in circularity actions as well as sustainability measurement tools (e.g. Life Cycle Assessment (LCA)) for the development of more sustainable products and services.

During the studies the students build a financial mindset and learn to utilize agile and lean development methodologies and design thinking for development in circular economy business. RiMCE studies focus also on the innovation pipeline process and the roles of stakeholders in sustainable business openings in the company context and the role of leadership and communication when pursuing sustainability.

Key Learning Outcomes

Circular economy challenges the traditional linear economy “take - make - dispose”. According to Ellen MacArthur Foundation “A circular economy is based on the principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural systems”.

Closing the loops requires thorough managerial, professional, and strategic thinking of how to design products, processes and services and what kind of material and models should be used to achieve sustainability goals. For more radical change to happen, a paradigm shift is needed in the way things and whole systems are being designed.

After graduation from RiMCE students can:
1. apply up-to-date knowledge of circular economy and risk management into their work and professional development
2. identify, assess, and prioritize risks in different contexts
3. develop circular economy value chains and the consumer engagement issues
4. apply sustainability measurement tools (e.g. Life Cycle Assessment (LCA)) for the development of more sustainable products and services
5. utilize agile and lean development methodologies and design thinking for development in circular economy business
6. collaborate and co create in multidisciplinary and intercultural teams and communicate responsibly and effectively both in different contexts

Studying in an international atmosphere gives students unique possibilities to gain the confidence to work in different working environments, both as a team member and independently, all around the world.

Occupational Profiles of Graduates with Examples

This Master's programme provides specialists that have expertise in risk management and circular economy principles and practices. Graduates will be able to apply and use LCA, sustainability and risk management measures to ensure products and services.

Access to Further Studies

The degree is Master of Business Administration. It produces the same eligibility for public offices as a Master’s degree from a university. The student may also apply for doctoral studies at a university.

Examination Regulations, Assessment and Grading

Assessment of completed courses is based on TAMK’s assessment criteria. The teaching and assessment methods are agreed on with the students at the beginning of each course. The detailed information and criteria can be found in the course implementation plan. TAMK’s degree regulations are followed in implementation and assessment.

Graduation Requirements

In order to graduate the student needs to complete the studies in accordance to the curriculum.

Mode of Study

This Master's degree programme is 90 credits in extent and it takes 1.5 years to complete. The studies are mainly on-line courses including 3 intensive study weeks in Finland (4 days per week). It is possible to study on this master's programme while working full-time.

Development of the Programme

The curriculum and implementation of courses are developed in cooperation with working life experts. Student feedback is collected regularly and applied constantly. Alumni feedback is collected regularly.

24Master's Degree in Risk Management and Circular Economy (Business)
Code
(24MCEL)
24Master's Degree in Risk Management and Circular Economy (Business)
Code
(24MCEL)

Master's Degree in Risk Management and Circular Economy (Business)
Code
(22MCEL)
Master's Degree in Risk Management and Circular Economy (Business)
Code
(22MCEL)
Master's Degree in Risk Management and Circular Economy (Business)
Code
(22MCEL)
Master's Degree in Risk Management and Circular Economy
Code
(20MCEL)
Master's Degree in Risk Management and Circular Economy
Code
(20MCEL)
Enrolment period

01.08.2024 - 23.10.2024

Timing

02.09.2024 - 20.12.2024

Credits

5 op

Mode of delivery

Contact teaching

Unit

MD in Risk Management and Circular Economy

Campus

TAMK Main Campus

Teaching languages
  • Finnish
Degree programmes
  • Master's Degree Programme in Risk Management and Circular Economy (Business)
Teachers
  • Eveliina Asikainen
  • Pauliina Mansikkamäki
  • Saija Tapio
Person in charge

Timo Parkkinen

Groups
  • 24YRIMCET
  • 24YRIMCEL

Objectives (course unit)

In this course, the participants familiarize themselves with the principles and methods of academic research and academic writing at Master’s level at a university of applied sciences. It provides the participants with a toolbox to transform the initial development work into a well-structured and logical final thesis. The course will introduce participants to the various research paradigms for the discipline. The module will consider the differences between ‘academic’ and ‘practitioner-based’ research and enquiry and the importance of methodology.

After completing the course, the participants will be able to:

- know concepts, nature, rules and ethics of academic research
- know some of the most common research approaches and methods
- analyse academic texts
- plan the research process effectively
- build a meaningful structure for their thesis
- apply concepts of academic research in their own Master’s thesis
choose and apply suitable research approach and methods

Content (course unit)

Concepts in academic research
Most common research approaches and methods
Structure of academic research
Academic research process
Research plan

Assessment criteria, pass/fail (course unit)

The student understands the overall process of designing a research project from the beginning to the final report. The student can identify ethical issues in research and knows the difference between quantitative and qualitative research. The student is familiar with the criteria for evaluating the quality of a research project. The student can articulate a research problem, formulate research questions, develop research objectives and build a theoretical framework. The student is familiar with basic data collection and analysis methods and can write a research proposal.

Assessment scale

0-5

Enrolment period

02.07.2024 - 31.10.2024

Timing

01.09.2024 - 15.11.2024

Credits

5 op

Mode of delivery

Contact teaching

Unit

MD in Risk Management and Circular Economy

Campus

TAMK Main Campus

Teaching languages
  • English
Degree programmes
  • Master's Degree Programme in Risk Management and Circular Economy (Business)
Teachers
  • Petteri Vilén
  • Pauliina Mansikkamäki
Person in charge

Timo Parkkinen

Groups
  • 24YRIMCET
  • 24YRIMCEL

Objectives (course unit)

In this course, the participants build a financial mindset. They recognise the importance of profitable business by adapting the relevant topics and key factors in accounting. The course works as a starting point of financial management skills for those without previous knowledge but also as repetition for students with financial background to widen expertise in the field of finance.

After completing the course, the participants can:
- analyse financial situation of a company (profitability, liquidity, solvency)
- execute financial planning
- apply financial tools at work
- plan and execute actions for turnaround projects

Content (course unit)

Practices and tools for financial planning
Profitability, liquidity and solvency practices and tools
Practices and tools for analysis of the financial situation of a company

Assessment criteria, satisfactory (1-2) (course unit)

The student can identify the core concepts in the field of financial accounting, recognise the relevant practices and methods and define the need for accounting in general. The student can read the key financial accounting information and statements and provide routine performance in course tasks and participation. The student knows the principles at a basic level. Students can give and receive feedback and take responsibility as an individual learner. The student can act as part of a team under supervision, and he recognizes his level of interaction.

Assessment criteria, good (3-4) (course unit)

The student can structure the connections between the financial statements and apply the financial accounting themes with relevancy. The student can explain and adopt the need for financial accounting, why and how to use various accounting methods and the need for profitable business. The student can measure financial performance based on public financial information. Student gives and receives constructive feedback, operates in professional manner by recognizing relevant scope and needs, develops his interaction skills, adding value to the team and takes responsibility

Assessment criteria, excellent (5) (course unit)

The student adapts the course themes in a professional manner, finds and translates the course message and expands the context by bringing perspectives, experiences, and opinions. The student can analyse the selected themes, find the academic approach, use additional research papers and academic sources, and activate mindset to connect financial accounting in working life situations. The student builds creative solutions by combining the course themes, assesses diverse outcomes, looks for new opportunities, justifies the financial decisions made and looks for alternative perspectives The student uses feedback to iterate the learning process and adds collaboration as being an asset for the team. The student develops creative and constructive working methods and brings professional commitment throughout the course.

Location and time

The course takes place during periods 1 and 2, starting September and ending during P2.

Exam schedules

The course grading is based on a instructed report, details will follow.

Assessment methods and criteria

The course evaluation is based on the report 100%. To be informed during the lecture 24th Sep 2024.

Assessment scale

0-5

Teaching methods

The course is a remote course by using the Moodle platform. All the course materials will be in Moodle to be studied. The only contact session is set for 24th September, a full day for kicking off this remote Moodle course.

Learning materials

Teaching materials are based on slides and various exercises in Moodle. The details to be informed during the first lecture 24th Sep 2024.

Student workload

The course is 5 credits, which indludes all independent studies in Moodle and making the instructed report. One credit equals 27 hours, a TAMK default.

Content scheduling

The course structure and themes are to be informed during the first lecture.

Enrolment period

24.09.2024 - 23.10.2024

Timing

21.10.2024 - 23.02.2025

Credits

5 op

Mode of delivery

Contact teaching

Unit

MD in Risk Management and Circular Economy

Campus

TAMK Main Campus

Teaching languages
  • Finnish
Degree programmes
  • Master's Degree Programme in Risk Management and Circular Economy (Business)
Teachers
  • Anu Vänskä
Person in charge

Timo Parkkinen

Groups
  • 24YRIMCET
  • 24YRIMCEL

Objectives (course unit)

In this course, the participants explore business design and business model development, ideation and innovation regarding the business and operational opportunities in the field of risk management and circular economy. They learn agile and lean development methodologies, and design thinking to balance with desirability (customer / user perspective; why), feasibility (illustrations, modelling and argumentation to implement; how), and viability (to some extent evaluation of commercial possibilities; how).

After completing the course, the participants can:
- identify and seize service and business opportunities in the field of risk management and circular economy
- use synergy of a cross-expertise team in problem solving and development work
- develop and present innovative, feasible and viable service and business concepts with agile, lean and
design thinking approach and methods
- facilitate a development process in a team

Content (course unit)

Circular economy business models
Agile development methods
Customer understanding and insight
Design thinking process (ideation, testing and validation, conceptualization, business modelling, and sales pitching)

Assessment criteria, satisfactory (1-2) (course unit)

The student names and defines service and business opportunities in the field of risk management and circular economy. The student can make routine comparisons between circular economy related business models but the role in further development remains unclear. The student knows the development methods and works in a group but without ability to fully utilize the synergy of the expertise available in the team. The student can give and receive feedback but considers and assesses things from his/her viewpoint.

Assessment criteria, good (3-4) (course unit)

The student can explain and compare service and business opportunities in the field of risk management and circular economy. The student is committed to group activities, can act as an active and responsible team member and utilizes synergy of the cross-expertise in development. The student can apply facilitation methods, make plans, limit problems and solve them. The student can give and receive feedback actively and constructively and considers and assesses things both from own and the team’s viewpoint.

Assessment criteria, excellent (5) (course unit)

The student can analyse and generalise service and business opportunities in the field of risk management and circular economy and relate them into the professional context. The student is committed to group activities and can utilize in fully potential the synergy of the team cross-expertise in development. The student can facilitate the development in a team and uses feedback systematically as a professional growth tool in own work and in the team. The student understands the economic and wellbeing related effects of his/her work and can anticipate them in his/her work.

Assessment scale

0-5

Enrolment period

02.07.2024 - 31.08.2024

Timing

02.09.2024 - 23.10.2024

Credits

5 op

Mode of delivery

Contact teaching

Unit

MD in Risk Management and Circular Economy

Campus

TAMK Main Campus

Teaching languages
  • Finnish
Degree programmes
  • Master's Degree Programme in Risk Management and Circular Economy (Business)
Teachers
  • Kai Hintsanen
  • Tuula Tuhkanen
Person in charge

Timo Parkkinen

Groups
  • 24YRIMCET
  • 24YRIMCEL

Objectives (course unit)

In this course, participants create mutual understanding on how the circular economy (CE) and risk management are interconnected. They explore the relation of both CE and risk management to sustainable development and the to need for systemic change. Participants will explore the transition from linear to circular economy, by using current concepts, solutions, and ecosystems created to promote the CE. As an important part of the course, the participants will familiarize themselves with risk management and how to identify, assess, and prioritize risks in different contexts. Participants learn how to search CE and risk management related literature from various sources and learn how to analyse and assess the reliability of different information sources. The assignments aim to support the use of versatile information sources and analysis of the materials from different viewpoints.

After completing the course, the participants can:
- Utilize various sources to find research-based information
- Explain current research-based knowledge of CE
- Analyze current concepts, solutions, and ecosystems of CE
- Describe risk management tools and processes
- Interpret connections between CE and risk management
- Suggest improvements for current CE concepts, solutions, and ecosystems

Content (course unit)

Information sources and searches
Current knowledge of CE
CE concepts, solutions, and ecosystems
Terminology of risk management
Risk management methods and tools
Implementation of risk management processes

Assessment criteria, satisfactory (1-2) (course unit)

The student can perform routine searches to find research-based information. The student can recognize and define phenomena and basic concepts of circular economy. The student knows the terminology, methods, and basic tools of risk management. The student can, with the help of others, manage to solve assigned tasks. The student gives and receives feedback but considers and assesses things only from his/her own point of view, without being able to generalize and contextualize. Commitment to create mutual understanding about interconnection of CE and risk management remains unclear and limited.

Assessment criteria, good (3-4) (course unit)

The student can perform searches of research-based information from various sources and explain and compare results in a logical way and can assess the reliability of the sources. The student can structure relations between field-related phenomena and the existing CE knowledge and concepts. Student can explain the terminology, methods, and tools of risk management and apply the knowledge. The student can apply research-based information to assigned tasks and select the most appropriate courses of actions from diverse options and justify his/her choice. The student can give and receive feedback actively and constructively and is able to generalize and conceptualize his/her views. The student can cooperate responsibly and is committed to creating mutual understanding about interconnections between CE and risk management.

Assessment criteria, excellent (5) (course unit)

The student can find research-based information from various sources and analyze and generalize and conceptualize the information. The student can relate the information to the professional context and is able to discuss the contents in an objective way. The student understands the terminology, methods, and tools for risk management and how to apply them professionally. The student can apply research-based information to assigned tasks in a versatile way and is able to select the most appropriate courses of actions from diverse options and justify his/her choice and try new courses of action. The student uses feedback systematically as a professional tool for growth in his/her own work and for the benefit of the community. The student can cooperate responsibly, flexibly, and constructively and develops his/her own and the group's interaction to create mutual understanding about interconnections between CE and risk management.

Assessment scale

0-5

Enrolment period

27.07.2024 - 25.08.2024

Timing

26.08.2024 - 31.07.2025

Credits

30 - 60

Mode of delivery

Contact teaching

Campus

TAMK Main Campus

Teaching languages
  • English
Seats

0 - 3

Degree programmes
  • Master's Degree Programme in Risk Management and Circular Economy (Business)
Groups
  • AVOINAMK

Content (course unit)

You can enroll to path studies if you hold a suitable higher education degree.
Studies consist of first semester (or year) studies of the degree programme (30-60 credits).

You will study full time in the degree programme´s student group and there are 3 places in the group for Open UAS Path Students.

The enrollment will start on August 1st at 9 am and end on August 2nd at 11.59 pm. If there are still study places left after the enrollment period ends, the period may be prolonged. The registration form can be found on this page. Places are filled on a first come, first served basis and registration is done in our online store.

Study fee
The fee for the open path studies is 300 euros. You pay it when enrolling.

The fee for the first year is the same for all students. If you apply to become a degree student and are not an EU/EEA student, you will have a tuition fee like all the other non-EU/EEA –students.

Please not that open studies do not help you to get a visa to Finland.

Path studies in English require good oral and written English language skills.

Teaching
The studies consist of individual work, group assignments and intensive weeks. You are expected to take part full time during the intensive weeks.

1. intensive week 23rd-27th September, 2024
2. intensive week 27th-31st January, 2025
3. intensive week: Autumn 2025

Degree application and student selection

You can apply for admission to the degree programme based on your Open UAS studies. If you start path studies in the autumn 2024, you will be able to apply to become a degree student already early October this year. The application is called “Open Path Application” and can be found in studyinfo.fi.

Required amount of credit points for the application is 20. If you cannot complete the required amount of credit points by December 31, you can go on studying as an Open University student and apply again in early May 2025 in studyinfo.fi

Student selection is made considering your completed amount of credit points and study success. Study success means the GPA of the studies completed during your Open UAS Path Studies. If necessary, students are placed in order by their GPA (highest to lowest). Please note that when applying for the YAMK/ Master’s degree, you must also meet the prior higher education degree and work experience requirements.

Student Benefits
Open UAS students cannot receive Kela’s financial aid for students or any other student benefits. If you are a customer of TE Services, you should check your study right with them before signing up for Open UAS studies.

Assessment scale

0-5

Enrolment period

02.07.2024 - 30.09.2024

Timing

02.09.2024 - 23.10.2024

Credits

5 op

Mode of delivery

Contact teaching

Unit

MD in Risk Management and Circular Economy

Campus

TAMK Main Campus

Teaching languages
  • Finnish
Degree programmes
  • Master's Degree Programme in Risk Management and Circular Economy (Business)
Teachers
  • Mari Helenius
Person in charge

Timo Parkkinen

Groups
  • 24YRIMCET
  • 24YRIMCEL

Objectives (course unit)

In this course, the participants assess and analyze the global megatrends and how they affect decision making in circular economy actions. They understand the need for using information from different sources. The participants explore future foresight theories and terminology and learn to anticipate the changes in their own operational environment.

After completing the course, the participants can
- explain important megatrends in relation to circular economy
- use the terminology and methods of futures research of their own field
- apply often contradictory information on the effects of megatrends
- anticipate the changes in their own operational environment
- utilize the futures research materials in their own field of studies

Content (course unit)

Megatrends and weak signals
Future scenarios
Future foresight theories and methods
Participatory methods

Assessment criteria, satisfactory (1-2) (course unit)

The student can name important megatrends in relation to circular economy and define the terminology and methods of futures research of their own field. The student recognizes contradictory information on the effects of megatrends. The student can anticipate the changes in own operational environment and utilize the futures research materials in their own field of studies by routine performance. The student can give and receive feedback but considers and assesses things from his/her viewpoint. The student can work in a group and take responsibility of own work and recognise important courses of action in the field.

Assessment criteria, good (3-4) (course unit)

The student can explain important megatrends in relation to circular economy and apply the terminology and methods of futures research of their own field. The student can compare contradictory information on the effects of megatrends and structure relations between field-related phenomena and concepts. The student can anticipate the changes in own operational environment and utilize the futures research materials in their own field of studies by selecting the most appropriate course of action and justify his/her choice. The student can give and receive feedback actively and constructively. The student takes responsibility and commits to the group activities in addition to his/her own work.

Assessment criteria, excellent (5) (course unit)

The student understands extensive entities and relations between megatrends and circular economy. The student can generalise and relate the terminology and methods of futures research of their own field to professional context. The student can search for diverse courses of action and solution alternatives, justify his/her choices and try new courses of action to utilize the futures research materials in their own field of studies. The student uses feedback systematically as a professional growth tool in his/her own work and the community. The student works responsibly and in a committed manner considering the community and field requirements and need.

Assessment scale

0-5

Enrolment period

02.12.2024 - 31.12.2024

Timing

01.01.2025 - 05.03.2025

Credits

5 op

Mode of delivery

Contact teaching

Unit

MD in Risk Management and Circular Economy

Teaching languages
  • Finnish
Degree programmes
  • Master's Degree Programme in Risk Management and Circular Economy (Business)
Teachers
  • Toni Luomaranta
Groups
  • 24YRIMCET
  • 24YRIMCEL

Objectives (course unit)

In this course, the participants familiarize approaches and tools for measuring sustainability. They apply life cycle assessment (LCA) analysis tools for a case and evaluate the results in an analytic and critical approach and learn to communicate about the results. They will assess measurement tools and interpretation of results.

After completing the course, the participants can:
- Describe tools for measuring sustainability
- conduct a simple LCA analysis and interpret the results
- reflect importance of sustainability measuring in the development of circular economy
- present development ideas about utilizing LCA in sustainability measuring

Content (course unit)

Sustainability measurement tools and approaches
LCA software tools in sustainability measuring
Analysis and interpretation of LCA results

Assessment criteria, satisfactory (1-2) (course unit)

The student can recognise and define sustainability measurement tools. The student can conduct LCA analysis when assisted. The student can work in a group but the role in development and analyses actions and outcomes of the team remains unclear. The student gives and receives feedback but considers and assesses things only from his/her own point of view, without being able to generalize and contextualize.

Assessment criteria, good (3-4) (course unit)

The student can explain and compare sustainability measurement tools. The student can conduct LCA analysis independently using instructions and tutorials. The student works in a group as an active member and has a role in development and analyses actions and outcomes of the team. The student can give and receive feedback actively and constructively and is able to generalize and conceptualize his/her views.

Assessment criteria, excellent (5) (course unit)

The student can analyse and generalise sustainability measurement tools and relate to professional context. The student can conduct LCA analysis independently using instructions and tutorials and assess diverse solution alternatives. The student can search for diverse courses of action and solution alternatives, justify the choices, and try new courses of action. The student has a leading role in the development and analyses actions and outcomes of the team. The student uses feedback systematically as a professional tool for growth in his/her own work and for the benefit of the team.

Assessment scale

0-5