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Introduction to Production Economics Course

The Introduction to Production Economics course is a 5-credit course that covers the basics of production economics. The course is designed to provide students with a comprehensive understanding of the concepts and principles of production economics.

Course Description

The course covers the following topics:

• Introduction to production economics
• Production and productivity
• Production strategies
• Forecasting
• Accounting and cost calculation
• Investments and financial planning
• Sustainable development
• Capacity management
• Location selection
• Production layout
• Personnel management
• Supply chain management
• Subcontracting
• Inventory management
• Production planning
• MRP and ERP
• Production control
• Just-in-Time and Lean
• Maintenance

Course Details

• Course code: ayP
• Credits: 5
• Duration: 25.08.2025 - 19.10.2025
• Price: 100
• Language: Finnish
• Level: Basic
• Field of study: Technology

Learning Objectives

After completing the course, students will be able to:

• Describe the basics of production economics
• Explain the key concepts and principles of production economics
• Apply production economics concepts to real-world problems
• Analyze and evaluate production economics cases

Course Structure

The course consists of 7 modules, each with assignments and tests. The course is taught entirely online, with video lectures and virtual tutoring.

Teaching Methods

• Video lectures: 20 hours
• Weekly assignments: 14 hours
• Independent study: 100 hours

Additional Information

The course is part of the 25-credit Production Economics study module, which also includes the following courses:

• Project Management Basics (ayA)
• Product Development (ayA)
• Work Wellbeing and Work Life Management (ayP)
• Process and Quality Management (ayA)

Study Materials

• Lecture and exercise materials on the course learning platform
• Heizer, J., Render, B., & Munson, C. (2020). Operations Management: Sustainability and Supply Chain Management. 13th edition. Pearson.
• Martinsuo, M. et al. (2016) Industrial Economics in Developing Business, chapters 7-9, 16, and 26.

Teacher

P‰ivi Kekkonen

Assessment Scale

1-5/Fail

Implementation

The course starts with an introductory lecture, followed by 7 weekly assignments (weeks 35-41) and virtual tutoring. Detailed instructions will be provided on the course learning platform.