Economics for cultural management

Structure Type: Course
Code: KMATT
Level: Bachelor
Credits: 15.0 points
Responsible Teacher: Leikkari, Esa
Teacher Team: Kareinen, Jussi ; Ikola, Johanna
Language of Instruction: Finnish

Course Implementations, Planned Year of Study and Semester

Curriculum  Semester  Credits  Start of Semester  End of Semester
KUMU-2014   1 autumn   5.0   2014-09-01   2014-12-31  
KUMU-2014   2 spring   5.0   2016-01-01   2016-07-31  
KUMU-2014   3 autumn   5.0   2016-08-01   2016-12-31  

Learning Outcomes

Students will learn to name and explain components of economic feasibility. Using spreadsheet, they will learn to calculate costs of starting and running a business. Students will also learn to conduct a contribution margin analysis to help them price products and services.

Students will learn to define basic conceps in payroll administration, tax planning and public procurement. They will learn to apply appropriate calculation methods in planning the above forms of administration in companies in the cultural field and learn to interpret the results of calculations. Students will know how to draw up plans for payroll administration, tax planning and public procurement and how to interpret the outcome from the perspective of cultural management. Students will understand the importance of holistic financial planning for companies and organizations, which operate in the cultural field nationally and internationally.

Students will
- learn to analyse forms of funding relevant to the cultural field
- know how to seek funding from appropriate sources
- learn to use project funding for productions
- learn to prepare budgets for projects/productions

Student's Workload

Student's total workload approximately 390 hours

Prerequisites / Recommended Optional Courses

Basics of production
Project management
Knowledge of the cultural and media sector

Contents

Budgeting and cost accounting 5 cr

- basic concepts in financial planning
- budgeting
- economic feasibility calculations and profit budget
- funds statement and financial budget
- contribution margin
- cost accounting
- basics of pricing

payroll administration, tax planning and public procurement 5 cr

- payroll administration, tax planning and public procurement as part of holistic financial management
- concepts and basic issues pertaining to payroll administration, tax planning and public procurement:

- payroll accounting, payroll process, settlement of accounts etc.
- direct taxation as part of financial management, taxation throughout the year, business taxation; various companies and self-employed persons as taxpayers
- Act on Public Contracts, procurement process, contracts for public procurement, cultural services and public procurement
- planning payroll administration, taxation and public procurement for companies in the cultural field (including international companies)
- information sources and tools for planning and implementation of payroll administration, taxation and public procurement

Sources of funding and grants 5 cr

Sources of funding, obtaining project and supportive funding, project budgeting

Recommended or Required Reading

Students will be informed at the beginning of the course

Mode of Delivery / Planned Learning Activities and Teaching Methods

- lectures, group work, independent stuy
- introductory lectures, visiting expert lecturers, work in small groups

Assessment Criteria

Grade 5 In relation to the learning outcomes, students have excellents skills, knowledge and attitudes. They know where to seek funding for their productions and combine various sources of funding to compile a budget.

Grade 3 In relation to the learning outcomes, students have good skills, knowledge and attitudes. They know where to seek funding for their productions.

Grade 1 In relation to the learning outcomes, students have passable skills, knowledge and attitudes. They possess knowledge of various sources of funding.

Assessment Methods

Written assignments, active participation, self-assessment, other evidence of learning

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