Economical environment
This course is part of the training Bachelor in Business Management.



Course level

Course prerequisites (start competences)
the level of third year student: normal skills of financing and accounting required
normal English skills
flexibility and capability of  teamwork in a multicultural environment

Course description & goals (final competences)
The course counts for 5 ECTS, which means a working load of approximately 133 hours for a student. The work of the student consists of self-motivated studying, lectures, case studies (presentations and feed backs) and final exam.
Contact hours will be in an open schedule (the system is called TheBooking in the faculty of S UAS), which is in the use of students and lecturers.

Final competences
Students have the knowledge to understand the complexity of economical environment, which is faced especially by companies establishing new business in Finland. They are also able to handle different kind of risks, which are involved and use modern tools, which are available to solve these problems.

Table of contents
1.General overview of economical environment in Finland
1.1.Finnish society – good opportunity for entrepreneurship?
1.2.High innovated companies – the only possibility for national economy?

2.How to establish business
2.1.Company legislation
2.2.Compulsory information to authorities
2.3.Company taxation, taxation of share income
2.4.Financing methods

3.Risk analysis
3.1.Functional risks
3.2.Financial risks

4.Modern tools to run business
4.2.Electronic Data Interchange (EDI)
4.3.Enterprise Resource Planning (ERP) systems for SME´s
4.4.Internet solutions in financial management and in accounting

Teaching method
The main learning method of the course is PBL (problem based learning), which means that different kind of problem solving tasks are the most used type of working for a student.
The virtual learning platform (the unit used e-learning platform is called “Virtualia” in S UAS) is also used as a help for handling all the information. Basic knowledge for using the platform will be given in the beginning of the course.
Lectures, class discussions, individual and group presentations are also ways of performance.  

Course material
List of literature will be given before start of the course. Own course book(s) needed. The prices of the book(s) will also be given in advance. Buying the books will be assisted (if needed).
The library of the unit (faculty) will also have few copies of the course book(s), which can be lend.

List of other course material will be given in advance before start of course. This material consists of (e.g.) recent articles and list of www-pages (sources) of the topics, which are handled during the course. This material will be given free of charge by the faculty.

Examination and assessment method
Demanded performances:
Case Studies, 40 %.
Certain amount (the exact information will be given in the beginning of the course) of case studies are evaluated by scale A (accepted) / F (failed) and the other part by ECTS-scale. Student must have an accepted grade for all case studies.
Final exam, 60 %.  
The final evaluation of the course will be determined by ECTS system:
A (excellent), B (very good), C (good), D (satisfactory), E (sufficient) and F (failed)

Student is able to retake the course.
Assignments can retaken by a new assignment. New assignment can be done once.
The final exam can be retaken twice.
First opportunity for a retake (for an assignment and final exam) will take place during the 2nd period (during the course). If a second retake for final exam is needed, the final exam can be done, according S UAS´s instructions, in the  student his home institution and then sent to S UAS for evaluation.

Information lecturer

Mr Jukka Rajala, Ms (Econ.)