Economy for Engineers

This course is part of the programme
Master in Engineering and Management (Second Level)

Objectives and competences

The following general competences will be acquired:

• the ability to analyze, synthesize and predict the consequences of strategic decisions,
• mastering research methods, procedures and processes in the field of strategic management and the development of critical thinking and self-critical judgment,
• the ability to use skills in the field of strategic management to solve open issues in a wider multidisciplinary perspective,
• the ability to interpret own views and conclusions, work in the group, and tolerate acceptance and consideration of constructive criticisms and comments.

The following subject – specific competences will be acquired:

• Understanding the impact of economic and social impacts on the design, planning and implementation of the organization's operations,
• understanding the changes brought about by the process of globalization in the design, planning and implementation of economic aspects of the organization, • the ability to take a critical view of the relationship between the individual building blocks of the organization,
• the ability to solve specific professional problems in the field of valuation of investments,
• the ability to draw own conclusions and position them in an appropriate professional framework,
• ability to use critical analysis and synthesis in solving complex multidisciplinary professional and research problems in the field of economics.

Prerequisites

Required knowledge cobers topics from courses: Economics and organization of a company, Business mathematics, and Statistics from the first level study program Engineering and Management. Basic skipps of using computers is also required.

Content

  1. Introduction
    - theory, concepts
    - the study of topics published in relevant literature
    - the reflection of the topic of economic problem
    - globalization

  2. Offer, demand, elasticity
    - goods and needs
    - production factors
    - market, supply, demand
    - price and income elasticity, cross-elasticity
    - revenue, cost and production function

  3. The roots of the business process and management
    - the factors for successful work
    - funds, financing, stocks

  4. Basics of production theory and costs
    - costs, revenues, profit or loss, cost sharing
    - cost calculations
    - business indicators

  5. Company development
    - profitability factors
    - risk factors
    - performance and performance analysis, indicators

  6. Business development projects
    - methodology for the economic evaluation of projects
    - economic indicators and effects
    - Analysis of social costs and benefits
    - Cost Benefit analysis
    - comparative analysis of methods and indicators examples of the calculation process
    - case studies from an engineering field

Intended learning outcomes

Students will:

• understand the importance and role of influential participants for the business success of the organization,
• be able to formulate the business policy of organizations,
• be able to analyze economically the operations of the organization, activities and structures in the country and to compare it in a wider context,
• be able to evaluate economically the investments for decision-making,
• understand and recognize the causes of the organization's failure.

Readings

• B. Bergant (2011): Ekonomika in organizacija v gospodarskih subjektih, Nova Gorica, od strani 224 do 256
• F. Bizjak (2008): Osnove ekonomike podjetja za inženirje, Nova Gorica: Univerza v Novi Gorici
• D. Papler in Š. Bojnec (2011): Naložbe v trajnostni razvoj energetike, Koper: Univerza na Primorskem, Fakulteta za management http://www.fm-kp.si/zalozba/ISBN/978-961-266-128-1.pdf.

Additional:
• N. Klein (2007): Doktrina šoka
• N. Chomsky (2013): Profit pred ljudmi
• D. Papler in Š. Bojnec (2015): Učinki liberalizacije trga električne energije, Koper: Univerza na Primorskem, Fakulteta za mangement http://www.fm-kp.si/zalozba/ISBN/978-961-266-191-5.pdf
• D. Papler in Š. Bojnec (2015): Konkurenčnost in dejavniki dobave električne energije, Koper: Univerza na Primorskem, Fakulteta za management, http://www.fm-kp.si/zalozba/ISBN/978-961-266-188-5.pdf

Assessment

• Short written assignments • Written exam, which assesses knowledge of the implementation of concepts of basic principles of control-systems analysis and design of companies. • Individual seminar • Presentations 10/60/20/10

Lecturer's references

Dr. Drago Papler Assistant Professor, habilitation field economy

http://izumbib.izum.si/bibliografije/Y20190529103854-A837475.html