Ministry of Education and Science of Ukraine
M.Ye. Zhukovsky National Aerospace University
“Kharkiv Aviation Institute”
Department № 601 “Economic Theory”
APPROVED by
prorector of academic teaching
and research
_____Pronchakov Yu.L.____
«
» _______________2015
WORK PROGRAM FOR NORMATIVE ACADEMIC DISCIPLINE
______________Economics and Management of Enterprise ______________________
(code and name of the discipline)
Major:
6.051101 «Aircraft and Rocket Engineering»
(major code and name)
Kharkiv 2015
Work program for academic discipline «Economic Theory» for students of major
6.051101 «Aircraft and Rocket Engineering»
25 June, 2015, 10 p.
Author: lecturer of the Department № 601 Shvedova D.S.
Work program for academic discipline was discussed at the faculty meeting at the
Department of Economic Theory
Protocol № 12 from “ 25” June 2015
Chairman of the Department of Economic Theory, economic sciences candidate,
professor
___________________________
(Y. V. Safronov)
(signature)
(name and initials)
Program was conformed at the department of graduation № 103
Protocol № __ from “ __ ” ______ 2015
Chairman of the department, doctor in engineering sciences, professor
___________________________
(A.G. Grebennikov)
(signature)
(name and initials)
Approved by methodological commission of M.Ye. Zhukovsky National
Aerospace University “Kharkiv Aviation Institute”
for major № 6.051101 «Aircraft and Rocket Engineering»
Protocol № 2 from “31” 08. 2015
“31” 08. 2015
Head of the commission __________ (L.O. Philipkovska)
(signature)
(name and initials)
 Shvedova D.S., 2015
NASU, 2015
1
1. Academic discipline description
Name of characteristic
Area of knowledge, major,
educational qualification
level
Academic discipline
characteristic
Daytime education
Number of credits – 4
Area of knowledge 0511
«Aviation and Aerospace
Engineering»
(code and name)
Elective course
Modules – 2
Content modules – 16
Individual scientific research –
absent
Major: 6.051101 «Aircraft
and Rocket Engineering»
(code and name)
General number of hours – 144
Specialty
(vocational
orientation)
_“Aircraft and rocket
engineering”__
Weekly hours for daytime
education:
Semester 7
Class – 5 h.
Self-study –
4,6 h.
Academic year:
2015
2016
Semester – 7th
Lectures – 45 h.
Practical lessons – 30 h.
Educational qualification
level:
Bachelor
Laboratory
Self-study
69 h.
Individual work
Final grade –
pass/fail
Note
The relation between the number of class hours and the number of self-study hours makes up:
75/ 69 for daytime education.
2. Aim and objectives of the course
Aim of the course of Economics and Management of Enterprise is judged by its ability to
help the managers to make better decisions. As economics and management of enterprise
concentrates only on the study of a firm, it is microeconomics in character. The firm's operations
are limited by the macroeconomic conditions such as government, inflation etc. So it works
against the backdrop of macroeconomics. 'Models' are built to reflect the real life complex
business situations and case study methods are also employed to conceptualize the problem,
identify the alternative and determine the best choice in decision-making.
Objectives: studying the course of "Economics and management of enterprise" provides
systematic academic knowledge about practical application of theoretical concepts of economics.
Microeconomics is the source of various concepts such as elasticity of demand, various market
forms etc. Macroeconomics plays a significant role in the area of forecasting. Economics helps
the managerial economist in decision-making and understanding the general economic
environment within which the firm operates.
2
According to the required educational and professional program students are:
to have knowledge in:
–
contemporary development of aerospace industry, current and future problems
facing the aerospace industry;
–
economic foundations of production: evaluation of production, equipment,
personnel, distribution methods and forms of wages;
–
basic economic categories (labor productivity, capital productivity, cost and
product price, profit, profitability, etc.);
–
ways to improve production efficiency, effective use of all types of production
resources;
–
methods for evaluating investments and measuring higher efficiency;
–
requirements for the organization and management of enterprise;
–
calculations of the duration of production cycles;
to be able to:
–
conduct technical and economic calculations;
–
develop a business plan for new types of production;
–
conduct economic analysis and choose among entrepreneurial, scientific,
technical and organizational decisions based on economic criteria;
–
develop and implement measures to increase the effectiveness of production and
implementation technologies that safe resources;
–
perform calculations in organization of production and labor.
to understand:
–
modern methods of system analysis of production indicators, the use of computer
technology for calculations of costs and revenues;
–
how to use these techniques for the measurement and optimization of economic
decision variables;
–
how to improve effectiveness of production, apply modern methods of production
processes and evaluation of labor.
3. Program of academic discipline
Module 1.
Introduction to the discipline "Economics and Management of Enterprise".
Aims of modern industrial production. Main means of putting into effect the economic
strategy of the state. Subject and objectives of the course. Course content and its relationship
with other disciplines. The role of the course in training specialists of aerospace industry
(organizational and economic). The aerospace industry’s place in the machine-building industry
and its role in scientific and technological progress and increasing welfare. Aerospace industry,
its development prospects. Factors that define the scale, growth rate and technical level of its
products.
Unit 1. Business types
Sole proprietorship. Partnership. Joint stock company. Advantages & disadvantages.
Sources of company’s finances. Stocks and bonds.
Unit 2. Consumer behaviour and demand analysis
3
Demand, determinants of demand, elasticity of demand and demand forecasting,
consumer's behavior. Objective of demand analysis. The analysis and forecasting of demand for
a given product.
Unit 3. Major funds of an enterprise
Composition of assets: fixed and circulating funds. Classification and structure of the
main assets in aerospace industry. Assessment of assets: total and original, residual, replacement
values.
Unit 4. Depreciation of fixed assets
Depreciation rates. Depreciation fund, its purpose. Performance indicators of fixed
assets. The accounting and analysis of effective use of equipment.
Unit 5. Composition and structure of working capital
Importance of working capital. Need of working capital for aerospace manufacturing.
Financing of working capital. Capital budgeting. Performance indicators of working capital. Pay
- back period method. Accounting rate of return (ARR) method. Discounted cash flow
techniques. Net present value method. Internal rate of return method. Accelerated turnover of
working capital. Concept of capital investment.
Unit 6. Production capacity
The concept of production capacity. Production capacity of industry, business, shop.
Production capacity and product application. Analysis of production program. The development
of production program.
Unit 7. Labor forces, labor productivity of an enterprise
Staff of a company, its composition and structure. Planning the number of workers in
different categories. The concept of warehouse workers and future warehouse workers. Labor
productivity, its measuring , factors that determine the level of productivity. Ways to improve
labor productivity.
Unit 8. Wages in industry
The tariff system. Tariff grid. Wage-rate guides. Forms and systems of payment for
labor. Time charges. Premium system, bonuses. Improving the system of payment for labor.
Module 2.
Unit 9. Theory of production function and cost analysis
9.1. Production function. Law of diminishing returns. Law of variable proportions.
Optimum decisions concerning production, materials purchase and handling.
9.2. Classification of costs. Costs in short run, costs in long run. Break-even analysis.
Cost minimizing decisions cost concepts and classification, production functions and cost
control.
Unit 10. Cost of products and pricing in aerospace industry
Classification of production costs by economic elements. Estimation of production costs.
Types of prices and how to establish prices for products in an aerospace industry.
Unit 11. Market structures
Classification of markets. Equilibrium point. Features of perfect competition. Role of
time factor in determination of price. Imperfect competition. Strategy-based pricing.
4
Unit 12. Production and sales under market conditions.
The nature and value of production and sales. The range of products, production volume
indices: products sold, product, gross output. Measuring the volume of output.
Unit 13. Profit and profitability.
The economic content and types of income. Profit as a source of state budget.
Enterprise’s revenue. The profitability of production. Indicators of profitability. Ways to
improve profitability.
Unit 14. Methods for determining the cost-effectiveness of new technology.
Economic justification of progressive, scientific, technical, technological decisions and
economic effect of economic efficiency. General and comparative cost-effectiveness. Common
and comparable indicators of economic efficiency.
Unit 15. Management
Management as a tool of market economy. Concepts and essence of management. The
economy as an object of management. The problems of economics and management. The
meaning of categories: control and management, manufacturing management, finance
management, human resources management, innovation management, accounting management,
sales management.
Unit 16. Business plan
Development of the business plan. Contents of the plan. The main parts. Basic technical
and economic parameters for enterprise’s activity in the business plan.
4. Structure of academic discipline
Topics for content
modules and units
Number of hours
total
1
Introduction to the
discipline "Economics
and Management of
Enterprise".
Unit 1. Business types
Unit 2. Consumer
behaviour and demand
analysis
Unit 3. Major funds of
an enterprise
Unit 4. Depreciation of
fixed assets
Unit 5. Composition
2
daily education
including
L
P
lab. ind. s.s.
3
4
5
6
7
Module 1.
Module 1 contents.
5
2
-
-
-
3
6,5
2
2
-
-
3
8,5
3
2
-
-
4
9
3
1,5
-
-
4,5
8
2
1,5
-
-
4,5
9
3
2
-
-
4
extramural education
8
9
10
11
12
13
5
and structure of
working capital
Unit 6. Production
capacity
Unit 7. Labor forces,
labor productivity of
an enterprise
Unit 8. Wages in
industry
Total in module 1
Unit 9. Theory of
production function
and cost analysis
Unit 10. Cost of
products and pricing in
aerospace industry
Unit 11. Market
structures
Unit 12. Production
and sales under market
conditions
Unit 13. Profit and
profitability
Unit 14. Methods for
determining the costeffectiveness of new
technology
Unit 15. Management
Unit 16. Business plan
Total in module 2
Hours total
№
9
3
2
-
-
4
9
3
2
-
-
4
8
2
2
-
-
4
73
23
10
3
2
-
-
5
9,5
3
2
-
-
4,5
8
2
2
-
-
4
9
3
2
-
-
4
9,5
3
2
-
-
4,5
7
2
1
-
-
4
9
9
71
144
3
3
22
45
2
2
15
30
-
-
4
4
34
69
15
35
Module 2.
Module 2 contents.
5. Topics for seminars and practical lessons
Title
Num. of
hours
1. Main organizational forms of businesses.
2
2. Basic Production Means of enterprise (Fixed Capital)
2
3. Calculation of original, replacement, residual, liquidating costs of FA.
1,5
4. Calculation of profit maximization due to change in price and quantity of products.
1,5
5. The law of demand and the law of supply. Equilibrium point.
2
6. Estimation of effective use of Fixed Capital.
2
7. Coefficients of turnover. Ways of improvement of use circulating capital.
2
8. Calculating capacity of the work-shop of an enterprise.
2
6
9. Defining of quantity of required personnel. Changing labor intensity with the quantity
2
of goods.
10. Calculation of cost price.
2
11. Expenses for repair and maintenance of equipment. Indirect expenses.
2
12. Methods of establishment the market price of the product.
2
13. Order of calculation of economic rational version of technological process.
2
14. Net Present Value of Discounted Cash Flow – as a parameter of economic efficiency
1
of the new aircraft. Data for calculation. The order of calculation.
15. Break – Even Point – as a parameter of economic efficiency of the new aircraft. Data
2
for calculation. The order of calculation.
Total
№
1
2
№
1
2
6. Topics for practical lessons
Name
30
Num. of hours
2
7. Topics for laboratory lessons
Name
Num. of hours
8. Self-study
№
Name
Num. of
hours
1
2
3
4
5
6
7
8
7
9. Individual tasks
Individual task in the course of “Economics and management of enterprise” is done by the
students themselves and under the guidance of the instructor.
Individual task means the students should prepare paper assignments, reports, information
material, all of which can be used during seminars.
10. Teaching methods
For the sake of effective material learning the following teaching methods are used:
–
explanatory and descriptive;
–
method of schematic illustration of the subject matter in the form of diagrams,
charts, graphs;
–
situational method (solving and analysis of particular economic problems);
–
reproductive;
–
method of investigation.
11. Methods of progress control
System of current knowledge control contains estimation of:
 systematic and active student participation during practical lessons;
 individual and self-study task accomplishment;
 final grading (fail/pass).
12. Grading system (pass/fail)
Semester 2
Monitoring and individual work
Content module №1
Content module №2
U U U U U U U U U U U U U U U
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
6 6 6 6 6 6 6 6 7 7 7 7 6 6 6
U 1, U 2, …, U 16 – content module units
Final test (exam) in case of
refusal from monitoring
grades and from permit to
the exam
Total
U
16
6
100
100
Evaluation scale: national and ECTS grade system
ECTS
National grade
Sum of grades for all
grade
in exam, course project
educational activities
for passed
(paper), practice
90 - 100
А
excellent
83 - 89
В
good
75 – 82
С
pass
68 -74
D
satisfactory
60 – 67
E
0 – 59
FX
unsatisfactory with the
fail with the opportunity to
opportunity to resit an exam
resit the exam
8
13. Methodological guidelines
Экономика предприятия : учебник / [под ред. проф. О. И. Волкова. – М. : ИНФРА-М, 2001.
– 520 с.
Экономика предприятия : сборник задач / А. И. Бабушкин,
А. Н. Березюк, В.
Н. Гавва и др. – Х. : Нац. аэрокосм. ун-т им. Н. Е. Жуковского «Харьк. авиац. ин-т», 2001.
– 188 с.
Maier M. Introducing economics: A critical guide for teaching. / Maier M., Nelson J. –– New
York, London, England : M.E.Sharpe Armonk. –– 2007 (1956). –– 281 p.
Mankiw N. G. Principles of Economics / N.G. Mankiw / [6th edition]. – UK. : Cengage
Learning. –– 2011. –– 890 p.
14. Recommended reading
Basic
1.
Bhat M.S., Rau A. V. Managerial Economics and Financial Analysis. – 2008 – 363 p.
2.
McConnell C. Economics: Principles, Problems, & Policies / [Campbell McConnell,
Stanley Brue, Sean Flynn] // McGraw-Hill Series in Economics; 20 edition. – McGrawHill/Irwin ––2014. –– 996 p.
3.
Mankiw N. G. Principles of Economics / N.G. Mankiw / [6th edition]. – UK. : Cengage
Learning. –– 2011. –– 890 p.
4.
McConnell C. Economics: Principles, Problems, & Policies / [Campbell McConnell,
Stanley Brue, Sean Flynn] // McGraw-Hill Series in Economics; 20 edition. – McGrawHill/Irwin ––2014. –– 996 p.
5.
MIT OpenCourseWare. Electronic resource: Access address: http://ocw.mit.edu
6.
Economics of enterprise. Tutorial. / [Ya. Safronov, V. Koupriyanova, L. Kornilov, T.
Pavlenko, V. Voronko]. –– Kharkiv: “KhAI”. –– 2014. –– 54 p.
7.
The Oxford Handbook of Entrepreneurship / [Mark Casson, Bernard Yeung, Anuradha
Basu]. –– Oxford Handbooks Online. –– 2008. –– 790 p.
8.
Сафронов Я. В. Экономическое обоснование бизнес-проектов в машиностроении /
Я. В. Сафронов, В. Н. Гавва, В. А. Пильщиков – Х. : Нац. аэрокосм. ун-т им. Н. Е.
Жуковского «Харьк. авиац. ин-т», 2002. – 114 с.
9.
Экономика предприятия : учеб. для вузов / под ред. В. Я. Горфинкеля,
В. А. Швандара. – 3-е изд., перераб. и доп. – М. : ЮНИТИ-ДАНА, 2001. – 718 с.
10.
Экономика предприятия : учеб. для вузов / Л. Я. Аврашков, В. В. Адамчук,
О. В. Антонова и др. : / под ред. В. Я. Горфинкеля, В. А. Швандара. – 2-е изд., перераб. и
доп. – М. : Банки и биржи, ЮНИТИ, 1998. – 742 с.
11.
Экономика предприятия : учебник / [под ред. проф. О. И. Волкова. – М. : ИНФРАМ, 2001. – 520 с.
9
Additional
1. Mankiw N. G. Principles of Microeconomics / N.G. Mankiw. –– Harvard University
Press : 2008. –– 528 p.
2. The Oxford Handbook of Entrepreneurship / [Mark Casson, Bernard Yeung,
Anuradha Basu]. –– Oxford Handbooks Online. –– 2008. –– 790 p.
15. Informational resources
Department’s e-mail: k601@d6.khai.edu
10