Single course
Economic Responsibility in Tourism
After completing this course, you will understand the key drivers of profitability in the tourism sector. You will learn to use calculation methods including CVP analysis and pricing, as well as to analyze financial information. You will be able to make decisions based on financial information.
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
Prerequisites
Percentage calculations
Calculation of the value-added tax
Simple interest calculation
Compound interest
Indices
Inflation and deflation
Exchange rate (currency) calculations
Basic statistics
Additional information
The course will be implemented as lectures in a classroom in Rajakatu campus. The course code is MT00CG05-3002. Use the code to view the course schedule at https://lukkarit.peppi.jamk.fi.
Enrolling on open studies requires a Finnish personal identity number and strong identification.
Verify your identity in the Suomi.fi service or with HAKA credentials when you enroll. Otherwise, you will need either a valid passport or an EU ID card with a chip (according to the ICAO 9303 E-MRTD standard). In this case, please contact help.jamk.fi
Please notice that degree students in Jamk who have enrolled for attendance in are not eligible to enroll as Jamk Open UAS students (instead, enrolment in Peppi).
Read more about enrollment and study fees: https://www.jamk.fi/en/apply-to-jamk/jamk-open-university-of-applied-sc…
Further information concerning the enrollment: avoinamk@jamk.fi