Principles of Economics (5 cr)

Evaluation scale

H-5

Schedule

2025 Second spring period

Implementation methods, demonstration and Work&Study

CONTACT
If you have the competence objectives of this course, you can show your skills. Ask the lecturer for more information. Learn more about recognition of learning: https://www.haaga-helia.fi/en/recognition-learning

If you can complete this course by work-based learning (Work & Study), please contact the lecturer.

Intro

Have you ever thought how the economy functions? Why, for example unemployment, inflation and economic growth exists? During this course, you will get a good understanding of the operating principles of the economy and the role of companies, consumers and the public sector in building wealth and well-being of the society.

Materials

https://www.core-econ.org/
Microeconomics and macroeconomics when applicaple.

Teaching methods and instruction

Students are required to participate actively in online classes. There will be both individual and group work. After completion of the course and/or after acquiring equivalent competences, student:
- knows the structure of the economy and identifies the most significant drivers of economic change
- understands the role of the public sector, consumers, and businesses in society as a builder of wealth and well-being
- knows the principles of economic decision-making
- knows what is meant by corporate social responsibility and how the circular economy and sustainable development are promoted in business operations
- knows the key concepts and indicators of the economy
- understands current phenomena and trends in the global economy and their impact on the operations and competitiveness of companies.

Working life connections

The course will focus on presenting and analysis of:
- Economic growth, gross domestic product and well-being
- Economic sectors and actors
- Entrepreneurship and innovation processes
- Supply, demand and the markets
- society and Inequality
- Circular economy
- Development goals and sustainable development
- Globalization and foreign trade
- Economic policy

Exam dates and re-exam possibilities

The course has two exams. The retakes (two) are in HH's Exam-system after the course.

Internationality

- Participants have international background
- Learning material of international character
- Case example with international background
- Possible guest lectures with international background

Completion alternatives

Those who have acquired equivalent competences may demonstrate their competences.

Virtual instructed.

Learning assignments

To be specified later

Assessment methods

Several assignments and exam will assessed according to following assessment criteria
.
Assessment criteria - grade 1
The student can describe:
- the importance of the economy and politics as a basis for the functioning of society
- economic phenomena, and is familiar with key economic concepts
- the structure of the economy and is familiar with the key international economic relations
- the principles of the circular economy, as well as the behavior and economic decision-making of people and businesses.

Assessment criteria - grade 3
The student:
- can estimate the impact of economic phenomena on their own activities, on consumers and on businesses
- can interpret key basic economic concepts
- can describe economic phenomena and their impact on the operating environment
- knows the role of Finnish society in the European Union and in the wider international community
- can assess the importance of the circular economy in society. Knows and understands the behaviour and economic decision-making of people and companies.

Assessment criteria - grade 5
The student can analyze
- the impact of economic phenomena on the operating environment
- masters the basic economic concepts excellently
- its own and the company's operations based on economic phenomena
- the future impact of the circular economy on society
- the impact of human and business behaviour and economic decision-making on the functioning of the overall economy.