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Politecnico di Torino
Academic Year 2009/10
01FOHDS
Economics and Industrial Management
Master of science-level of the Bologna process in Mechanical Engineering - Vercelli
Teacher Status SSD Les Ex Lab Tut Years teaching
SSD CFU Activities Area context
ING-IND/35 5 D - A scelta dello studente A scelta dello studente
Objectives of the course
The course is designed to give an overview on the goods/services corporate economy as a whole. It provides knowledge of production companies functioning (focusing on the specificity of goods and services production) and management with reference to planning-control system (strategy and operating business plan). By solving practical exercises, the theory exposed will be applied to face common business problems.
Expected skills
The course enables the student to:
a) evaluate the return on an investment proposal in capital equipment, under the same or different lifetime condition of the goods compared;
b) understand how the amortization plan of a debt is composed;
c) revise the proposed investments in a budget control procedure, in order to maintain the profit target of the economy account;
d) dimension the workforce when working load is rationalizable as quantity of time, as well as to acquire critical analysis skills when the working load is not rationalizable;
e) choose the suitable energy utility source within operating costs limits (the choice is completed by the evaluation of the return on investment in the energy utilities equipments; hence the same problem as point a) is presented);
f) evaluate the main indexes of structure (financial standing of balance) and of economic profitability;
g) evaluate indexes useful to the materials management and to priority choice among a mix of goods and services produced;
h) avoid ambiguity of interpretation by knowing the different meanings ascribed to a same term used in economics (ex.: amortization) and the different terms (ex.: income, result, margin, profit re concept of economic profitability) referring to the same economic concept in the most significant cases of enterprise life;
i) know current economic notions of the enterprise life and of the external environment (GDP (=Gros Domestic Product), national accounts elements, taxes, share, bonds, financing sources, principal enterprise aggregations -groups, franchising, joint-venture, etc.- , affiliated company and controlled company, mechanism of ˇ§fallˇ¨ control, principal forms of market, concentration, economics of scale);
l) understand the strategic and operating planning process flow as an operating mechanism of the enterprise economic management organization, as well as the definition of the organization needed for the functioning;
m) become aware of the environmental and work-safety policy influence on the industrial management of goods/services production.
Prerequisites
It is advisable for students to have taken a preparatory course of economics applied to engineering. However, in the course studentˇ¦s attention is drawn to the balance sheet items, which are directly influenced by the engineerˇ¦s activity, as far as equipment-machinery investment proposals are concerned.
Syllabus
The corporate functioning: generalities on the enterprise, juridical-contractual forms of the economic activities practice, generalities on the enterprise organization, definition of the organizational structure, work division models, basic corporate functions, environmental law references for the industrial activities practice, the environmental balance; mass and work order production.
Planning-control as a theoretical introduction to practical exercises on enterprise management: cost classification, economy account and financial standing of balance, strategic and operating planning (business plan/budget), simplifications and differences between balance sheet and previsional budget.
Elements of macroeconomics (national accounts, taxes, natural monopoly rules) and microeconomics (market forms, economies of scale, concentration).
Laboratories and/or exercises
Exercises about common problems of the industrial engineering practice: work-force evaluation (working posts); return on investments in the same or different useful lifetime of the goods compared; debt amortization; budget control by correcting actions to maintain the profit target and by modification of the parameters conditioning costs-incomes and production volume; contribution margin of goods/services production, structure indexes and profitability indexes for plan/budget validity; materials rotation index ; choice of energy utilities source within operating costs limits.
Bibliography
'Q Duplicated lecture notes handed by lecturer as studying support for final exam preparation.
'Q Supplemental Bibliography:
- Handbook of economy and enterprise organization, S. Rossetto, Ed. Utet
- Economic and organizational aspects of public energy utilities, P.A. Chiara , Ed. Coppo (3˘X - 4˘X b chapter with exercises )
- Budget control, S.Launois-J.Meyer, Ed. Angeli
- Economics, R.Dornbush-S.Fischer, Ed. Hoepli.
- The hundred words of economics, ˇ§Il sole-24 oreˇ¨, Ed. ˇ§Il sole-24 oreˇ¨
- The strategy concept and process (original title), A.Hax-N.S. Majluf, Ed. Scientifiche Italiane
Revisions / Exam
Mode a): written exam:
a.1) solution of exercises developed during the course
a.2) questions on the basic concepts of the industrial engineer practice;
test time: three hours
Mode b): the student may choose the oral test part a.2) sub Mode a);
test time of part a.1) : two hours and half
Admission to oral test only after a minimum score achieved on part a.1) (18/30)

Programma definitivo per l'A.A.2009/10
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