Xamk Open University of Applied Sciences (OUAS) offers a range of free courses for the autumn semester 2021. The guiding principle of the selected courses is the readiness for change, as competence is the force enabling change. Our world needs professionals, who master sustainability skills required in working life and society, as well as those, who are able to promote developmental adjustments.

This course belongs to the selection of autumn semester courses, available free of charge. Welcome to study at OUAS!

Time: 26th October – 20th December 2021
Place: Xamk Learn – digital learning environment
Extent: 5 ECTS cr
Number of study places: 40
Target group: All that are interested in this subject
Required previous skills: Ability to study at Bachelor level
Lecturer: Jagat Kunwar


Credited in degree: All Bachelor level degrees at Xamk
Enrolment by: 10th October 2021
Price: Free of charge


Please notice, that
Xamk degree students cannot enrol on OUAS courses.

Learning outcomes:
You demonstrate the understanding of different parts of micro- and macroeconomics.
You are able to explain the role of economics in a company’s business operations.
You are able to explain the influences of economic policy on different sectors of society.

Contents and methods:
What does an economy consist of?
What is the theory of enterprise from the economics viewpoint?
How do economic policies affect the various sectors of society?

Study material:
The lecture notes in the course page summarize key information from various sources. Regular attendance in classes and completing assigned tasks must be enough to achieve the learning objectives. However, economics is a very mature discipline and there are wide varieties of textbooks available in many sources. If you want to go deeper into certain issues, the recommended sources are:

• Mankiw, N. G. (2015). Principles of Economics. Boston, MA: Cengage Learning.
• Parkin, M., Powell, M., & Matthews, K. (2017). Economics. New York : Pearson.

You know how to
a.use professional vocabulary systematically
b.look for information in the key information sources of the field
c.identify interrelated tasks

The maximum number of points for the course is 100, broken down as follows:
• Mid-term quiz done individually and implemented in the course page (25%)
• Final quiz done individually and implemented in the course page (25%)
• Five tasks done in groups (50%)
• Attendance, bonus (10%)

Grading scale:


Transcript of records will be delivered by request:

 – in paper form for those who have their home address in Finland
 – by email in PDF form for those who have their home address in some other country.

This course is based on the curricula of Xamk's degree programmes and the Finnish credits are fully compatible with the ECTS.

Additional information on enrolment:

Open University of Applied Sciences office, email: openstudies@xamk.fi.

Terms of cancellation: 
If you are not able to participate in the course, please let us know as soon as possible by email openstudies@xamk.fi.

You'll receive an invitation by email to this course approximately one week before the course starts.