Single course
Economic Responsibility in Tourism
Content
You learn pricing strategies and methods, cost-volume-profit thinking, profitability, cost concepts, activity-based costing, customer profitability analysis, as well as ratios and different financial statements. Your understanding of profitable business increases, and you develop skills for analyzing and interpreting financial information.
Objectives
In this course, you familiarize yourself with various aspects of financial decision-making in the context of tourism, equipping you with the knowledge and skills needed to excel in this field. The object of this course is to provide you with a comprehensive understanding of the economic responsibilities within the tourism sector.
Competences
Learning to learn, Tourism business
Learning objectives
You learn how to analyze cost structures, break-even points, and profit potential, to ensure informed decision-making. You learn to use various calculation models and methods to analyze the company's financial situation and to forecast the future. For example, you learn how to prepare cost-volume-profit calculations for determining the profitability. You also learn to look at costs and analyze factors related to pricing and discounts as well as put forward development proposals for them. You understand pricing strategies that maximize revenue while considering the economic, ethical, and environmental responsibilities of tourism businesses.
During the course, your understanding of the profitability of different business areas increases and you understand their effects on the company's overall profitability. You are able to identify and examine factors impacting profitability. You can identify and prioritize valuable customer segments, fostering responsible and profitable customer relationships.
You are able to interpret financial statements and ratios to evaluate the financial health and performance of a company meaning for example to analyze company's profitability, solidity and liquidity through financial ratios.
Implementation methods
Lectures in a classroom in Rajakatu campus
Books
Video materials
Learning tasks
Guidance and feedback
Additional information
See the timetable of the lectures at https://lukkarit.peppi.jamk.fi/#/schedule by using the name of the course or course code MT00CG05-3001 (schedules will be published by 13 June 2025). NB! Online independent courses may not have schedules!
Notice that enrolling in Jamk's Open Studies requires a Finnish personal identity number. When enrolling, please primarily use the suomi.fi service for identification or if you have HAKA university credentials, you can use those. If you do not have Finnish bank credentials or HAKA credentials, skip the identification. After enrolment, immediately contact the helpdesk via a service request at help.jamk.fi to receive instructions for identification. Without identification, we cannot register you for studies.
Also notice that you cannot enroll in Open University courses if you are a degree student at Jamk (enrollment in Peppi).
Information on study fees and enrollment: https://www.jamk.fi/en/apply-to-jamk/jamk-open-university-of-applied-sc…
More information: [email protected]