Economics
| Structure Type: | Study unit |
|---|---|
| Code: | TI00BR50 |
| Curriculum: | IB 2025 |
| Level: | Bachelor of Business Administration |
| Year of Study: | 1 (2025-2026) |
| Semester: | Spring |
| Credits: | 5 cr |
| Responsible Teacher: | Salonen, Klaus |
| Language of Instruction: | English |
Learning Outcomes
This course provides a practical introduction to economics, where the student will learn to analyze and understand key concepts like the Gross Domestic Product (GDP) and its components; consumption, investments, government spending, and trade. Students will also learn to evaluate business and market dynamics: assess the role of businesses, stocks, and emerging assets like cryptocurrencies within the economic landscape. They will also learn to interpret financial systems: explain the function of money, interest rates, central banks, and financial institutions and their impact on both domestic and global economies.
Through real-world case studies, this course builds a strong foundation for understanding and analyzing economic dynamics, preparing students for advanced studies and/or professional pursuits.
Contents
Introduction to Economic Systems
- Understanding the fundamental principles of economics
- Key economic agents: households, businesses, and governments
Gross Domestic Product (GDP) and Its Components
- Consumption, investments, government spending, and trade
- Analyzing GDP as an economic indicator and its limitations
Money, Interest Rates, and Financial Systems
- The role of money and interest rates in the economy
- Central banks, monetary policy, and their influence on markets
- Financial institutions and their functions
Markets and Emerging Trends
- Businesses, stock markets, and their contributions to the economy
- Cryptocurrencies and their place in modern financial systems
Applied Economic Analysis
- Real-world case studies linking theory to practice
Foundations for Advanced Study
- Building critical thinking and analytical skills for further economics studies or professional applications