Basics of Economics
- Code: ECO1LE004
- Extent: 3 ECTS (81 h)
- Timing: 2nd Semester*
- Language: English
- Level: core studies
- Type: compulsory
*the course is offered only in spring semesters
- understands the basic economic concepts
- is able to analyse the economic news information and explain the basic economic phenomena
- knows how to evaluate the economic performance of the national economy
- understands how the households and the companies make their rational decisions and what their implications on aggregate level are
- is able to use the different economic information sources.
- Rational behaviour, opportunity cost
- Demand and supply
- Price formation
- Market structures and competition
- Economic growth, inflation, unemployment and interest rates and their interdependence
- Basic economic analysis of the performance of Finnish national economy
- The European Union and Finland
The student studies both individually and in teams. Individual studies consist of the economic information and data collection (article portfolio), workshops, study of the textbook and the preparation for the lessons and the examination.
Cooperation with the business community and other organisations
The course involves external visitors from business/organizations and weekly market reviews of local/global economic developments.
Due to the globalization and all the time expanding international businesses, most of the course topics have international dimensions by the definition.
Teaching and learning methods
Lectures and workshops 26 h
Presentations 4 h
Independent studies and team work 48 h
Examination 2 h
Self-assessment of learning 1 h
The course can be replaced by completing a course with similar contents and extent in other degree programmes in HAAGA-HELIA or at another University.
Recognition of prior learning (RPL)
If a student thinks that s(he) has both the skills and experience of the above mentioned course contents and learning outcomes based on her/his earlier studies or work experience, there is a possibility for the student to prove that s(he) both understands and can apply the learning objectives by attending both to a) a written exam and b) an oral exam.
If a student would like to proceed according to the RPL process s(he) should contact the instructor of the course during the pre-enrollment week or latest when attending the first lecture.
Teacher with the main responsibility for the course
Olli Laintila, Pasila
Parkin, Powell & Matthews. 2005. Economics. Harlow: Pearson Education Ltd.
Assessment criteria/scale 5-1.
|5 excellent||3 good||1 satisfactory|
Examination 40 %
Activity and assignments 30 %
Team work 30 %
The self-assessment of learning assignment does not impact your grade. The
assignment is the same for all courses/modules and your answers will be used
also for course/module development. The assignment is completed online in