Financial Management in Managerial WorkLaajuus (5 cr)

Objective

The student
- understands the key concepts of (health/social) business economics and the basic premises of theoretical thinking
- masters some of the current discourse and trends connected to the finances and cost development of public and private service production in social and health care
- has mastered the basics of financial planning, monitoring, cost calculation, productisation and pricing on unit level
- knows the connection of financial mechanisms and control systems with service development and management
- recognizes the different ways of producing and financing social and health services
- has mastered the basics of procurement and inviting tenders.

Content

- Basics of financial management, planning, control and monitoring
- Financial management and financial management tools in practical managerial work
- Cost calculation, pricing, productisation, procurement and inviting tenders
- The social and health care sector as an operating environment

Qualifications

Competencies in management and leadership achieved in BA degree in health care or/and social services

Assessment criteria, satisfactory (1)

1 (Adequate)
The student knows the basic concepts and methods of economic management, planning, guidance and follow-up. The student understands the basic mechanisms of cost accounting. The student knows some of the economic indicators.

2 (Satisfactory)
The student is able to apply the basic concepts and methods of economic management, planning, guidance and follow-up in their work. The student is able to implement cost accounting and pricing. The student applies the economic indicators for his work

3 (Good)
Students master the basic concepts and methods of economic management, planning, guidance and follow-up and apply them in practical leadership. The student is in charge of cost accounting and pricing. The student analyzes key economic indicators and understands their connection to evaluate the effectiveness of their operations.

4 (Very Good)
Students master the basic concepts and methods of economic management, planning, guidance and follow-up and are able to create plans based on them. The student is in charge of cost accounting and pricing. The student analyzes key economic indicators and understands their connection to evaluate the effectiveness of their operations.

5 (Excellent)
The student is able to master and understand the concepts and methods of economic management, planning, guidance and follow-up and can critically review them in supervisory work. The student is able to create cost calculations and pricing. The student is able to evaluate and critically examine the economic indicators and apply them to evaluate the effectiveness of the activity.