Tsk2001 Intercultural Communication 0 ecp 2 0 0 2 e purpose

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International Business Administration

General studies (general studies)

TSK2001 Intercultural Communication

3.0 ECP 2
0 - 0 - 2

Purpose: Acquire basics of intercultural communication and develop oral and written communication skills.

Results: Student communicates in different business situations and group work; presents persuasive arguments; explains the peculiarities of intercultural communication; writes business letters and reports.

Subject matter: The course will explore and compare the cultural assumptions of the participants using in as much as possible in-class exercises with the help of standard analytical tools. Observation and challenge of several cultural layers will be also conducted, if possible exploring the subcultural levels of contemporary western societies.


Evaluation method: Analytical work

Self-reliant work: Reading and reviewing topical materials for classroom discussions.

Reading list: Õppejõud teatab õppetöö alguses.
Will be announced in the beginning of the classwork.

TAF1180 Master Degree Course Workshop

3.0 ECP 2
1 - 0 - 1

Purpose: To provide students with knowledge of the requirements of compiling the master thesis and about the defence process.

Results: Students will be familiar with the structure of the master thesis and should be able to compile an expanded plan of their master thesis.

Subject matter: The process of compiling the master thesis. The topic and supervisor. Cooperation with the supervisor. Research methods. Databases. Academic writing. Preliminary defense of the master thesis. Presentation skills. Participation in discussions of the other students_ research plans and preliminary defence of the master theses.


Evaluation method: Participation (70%), expanded plan of master thesis (30%).

Self-reliant work: Expanded plan of master thesis.

Reading list: Hirsjärvi, S., Remes, P., Sajavaara, P. Research and Write (in Estonian). Tallinn: Medicina, 2005.; Chauri, P., Grönhaug, K. Business Research Methods (in Estonian). Tallinn: Külim, 2004; Bryman, A., Bell, E. Business Research Methods.

TER1520 Master Seminar

3.0 ECP 2
1 - 0 - 1

Purpose: To introduce the main requirements set for the Master's thesis, important aspects concerning the process of writing the thesis and defence procedure.

Results: The student understands the main requirements set for the Master's thesis.

Subject matter: Requirements concerning Master's thesis. The process of writing and defending a Master's thesis. Introduction of topics offered by the potential supervisors. The focus of the Master's thesis and its internal structure - problem, research questions, research tasks, objective, hypotheses, research object, structure, extended thesis plan. Working with the literature - scientific papers versus regulatory documents, theoretical versus empirical papers, searching, systematising, the role and form of the literature review in a Master's thesis. Data sources - searching, introduction to databases available at TUT. Methodology selection. Argumentation. Academic writing - main concepts, terminology, author's contribution, plagiarism, correct referencing style incl. TUT approach.


Evaluation method: compiling a referee report for two Master theses that have been previously defended

Self-reliant work: Reading materials, compiling a referee report

Reading list: Õppejõu poolt soovitatud materjalid Moodle'is.

TMO1110 Master Degree Course Worksop (management, human resource management)

3.0 ECP 2
0 - 0 - 2

Purpose: The objective of the course is to provide for students' knowledge and skills needed for conducting academic research and successfully preparing the master's thesis.

Results: The student has prepared and defended in front of other students the master's thesis outline that meets the respective requirements. The student understands what, how and why he/she investigates in the master's thesis.

Subject matter: The course consists of lectures and workshops. Lectures discuss what graduate research is all about, organising your master thesis, getting started with library resources, research methods for business students, writing and formatting for master thesis, and thesis outline. In workshops the written homework defences and discussions takes place.


Evaluation method: Hindamisviisid ja kriteeriumid inglise keeles: Master Degree Course Workshop is accepted if master's thesis outline meets form and content, as well as the requirements. On the basis of the master's thesis outline student is able to prepare his/her master's thesis.

Self-reliant work: Literature review, written home-works and presentations at the workshops

Reading list: " Kohustuslik õppekirjandus:
Chinneck, J. W. (1999). How to organize your thesis. Informally published manuscript, Carleton University, Ottawa, Canada.
" Soovituslik õppekirjandus:
Explorable.com (2013, February 25). Immunizing Against Nonsense - ...and making better brains for science.
Gerndorf, K. (2013). Magistriseminar. Mitteametlikult avaldatud käsikiri. Ärikorralduse instituut, Tallinna Tehnikaülikool, Tallinn, Eesti.
Lähdesmäki, T., Hurme, P., Koskimaa, R., Mikkola, L., & Himberg, T. (2010). Mapping research methods: Methods paths for humanists.
Neergaard, H. (2011). How to produce a good literature review. Informally published manuscript, Department of Business Administration, Aarhus University, Aarhus, Denmark.
Saunders, M., Lewis, P., & Thornhill, A. (2009). Research Methods for Business Students. 5th edition. Harlow: Prentice Hall.
Trochim, W. M. (2006, October 20). The research methods knowledge base, 2nd edition.

TMM1420 Master Degree Course Workshop (marketing)

3.0 ECP 2
0 - 0 - 2

Purpose: Students knowledge and skills needed for conducting academic research and learning to write master`s thesis.

Results: After course student is able to carry out research for master thesis and has prepared and defended in front of other students the master`s thesis concept that meets the respective requirements. to compose master thesis. The students understands what he/she investigates in the master`s thesis.

Subject matter: The course consists of lectures and workshops. Lectures disciss the methodology of academic research: general requirements for master`s theses; master`s thesis topic, problem, theory and methodology, problem solving; qualitative and quantitative methods of research; formatting requirements for master`s theses. Seminars: supervisor`s (consultant) choice and cooperation with supervisor; planning master thesis and presentation of master thesis plan and discussion; reviewing of previous defended master thesis; practicing doing presentations; taking part of discussion on other students master thesis.


Evaluation method: presentation (40%)
homework and presentation (30%)
activity in lectures and seminars (30%).

Self-reliant work: Planning Master Thesis and presentation of Master Thesis`s Plan. Reviewing two defended master papers and presentation.

Reading list: Õppejõudude poolt antud materjalid.
Kalle, E., Aarma,A. Teadustöö alused. Tallinn, TTÜ. 2003.
Ghauri, P., Gronhaug, K. Äriuuringute meetodid: praktilised näpunäited. Tallinn, Külim. 2004

Basic studies (basic studies)

TTP1050 Development Economics

4.0 ECP 4
2 - 0 - 2

Purpose: Evolutionary economics teaches to 1) analyse the positions of developing countries and problems in world economy, evaluate the possibilities of removing the development obstacles these countries are facing; 2) on the basis of the above create a basis for the identification and critical assessment of potential development scenarios and prospects of the transforming countries. Knowing the development economics one will be able to understand what the Central and Eastern European countries (including Estonia) could learn (both positive and negative) from the experiences of developing and industrial countries

Results: The students who have successfully passed the course will: 1) be able to formulate political, economic, social and ecological development related topical problems and know the most important schools of thought and development trends; 2) understand and be able to analyse, evaluate and synthesise the respective experiences of developing and industrial countries; 3) be able to learn from positive as well as negative experiences of Estonia and of other post-socialist countries; 4) be able to discern interdisciplinary connections and contact with experts from other spheres; 5) be able to pay attention to political, economic, social and ecological sustainability; 6) understand and be able to formulate broader political, economic, social and ecological problems behind economic development; 7) be able to solve specific problems in order to raise competitiveness; 8) are adaptible in new political, economic, social and ecological situations.

Subject matter: Concept and objectives of the development. Essence of development process. Alternative development concepts. Modernisation and its criticism. Ecologically sustainable development. Economic growth measurement. Selection of development indicators and general characteristics. Economic indicators. Measurement of income distribution. Social indicators. Political indicators. Differences between developing countries. Classification of developing countries. Theoretical explanations of backwardness of developing countries. Developing countries in the contemporary world economy. Political influence of developing countries. Economic growth theories. Theories of linear stages. Models of structural changes. Models of international dependence. Neoclassical models. Endogenous growth models. Economic growth, poverty and income distribution. Redistribution of income. Satisfaction of basic necessities. Population problems. Development of agricultural sector. Development of industry and urbanisation. Mobilisation of domestic capital. Development under open economy. International mobility of capital. International trade. Relationships between trade and economic development. External aid and loans. Debt crisis in developing countries.


Evaluation method: The grade of examination is based on written examination test - 50%, and on participation in classes and summary - 50%

Self-reliant work: Independent work involves going through the articles provided by the instructor on topical problems of evolutionary economics

Reading list: Parts,E. Arenguökonoomika. Tartu Ülikool. 2000.
Hayami, Y. Development Economics. Oxford University Press. 2001.

TMK8280 International Business

4.0 ECP 3
1 - 0 - 2

Purpose: To give master students knowledge and skills about problems and opportunities of business in global economy

Results: The student has basic knowledge about:
" assessment of business opportunities on international markets and analyse effects of business environments on activities on Multinational Enterprise (MNE);
" has practical experience on strategy planning of MNE;
" has knowledge and experience on multinational Human Resource Management (HRM);
" can argue implementation of business idea in international business environment and present his/her business idea;
" has knowledge about start up of business in international environment.

Subject matter: Motivation for internationalization. Modes of International Business. Countervailing forces. Economic integration and collaborative agreements. Political, legal, economic and cultural environments of business and cultural needs in the internationalization process. Evaluation and selection of countries and partners. export and import strategies. International negotiations. International business ethics


Evaluation method: Exam ( 50% from final grade vased on exam; 50% based on work in seminars)

Self-reliant work: working with compulsory and optional literature. Fulfilling seminar teamworking tasks

Reading list: Daniels, D., Radebaugh, H. International Business: Environments and Operations. 10 ed, Addison-Wesley Publishing Company, 2004.

HLE2210 Estonian Language and Culture I

4.0 ECP 2
0 - 2 - 0

Purpose: To introduce to the students basic Estonian phrases for everyday communicative situations, to convey to them an understanding of Estonia as a uniform state, cultural and historical entity.

Results: The student can use Estonian politeness formulas, can cope with everyday communicative situations (at the university, in a cafe, a shop, in the street) at least on the level of understanding, can introduce him/herself in Estonian. The student knows the Estonian national symbols, traditions, historical background and ties with other cultures.

Subject matter: Estonian compared to other Indo-European languages. Politeness formulas. Numbers. Vocabulary associated with university. Basic phrases in the shop, in the cafe, at the bus station etc. A short review of Estonian geography, climate, economy, history, traditions and culture.


Evaluation method: " A prerequisite of successful complition of the course is active participation in at least 75% of contact lessons.
" To complete the course the students must also make a short written test, which consists of both multiple choice and open questions.
" The Estonian students must also make a short representation about Estonian culture (in English).

Self-reliant work: To use phrases that have been acquired during classes in language environment. To obtain information about Estonian culture.

Reading list: M. Pesti, H. Ahi "E nagu Eesti. Eesti keel algajaile. - E as in Estonia. Estonian for beginners", Tln TEA
J. Tuldava "Estonian textbook: grammar, exercises, conversation", Bloomington 1994

TET2595 International Economics

4.0 ECP 3
1.5 - 0 - 1.5

Purpose: To give a thorough understanding of the theory and principles of international economics that are essential for understanding the international economic problems; develop necessary skills for reading and understanding conceptual and empirical issues in international economics.

Results: Students should understand the concept of comparative advantage and examine the effect of international trade on the earnings of factors of production; distinguish between a fixed and a flexible exchange rate system; describe and analyze real world behaviour in response to the currency appreciation/depreciation; understand monetary theories of exchange rate determination; evaluate effects of macroeconomic policies in different international monetary systems; understand the foundations of the optimal currency areas and economic international integration.

Subject matter: International trade theory, Ricardian model; Heckscher-Ohlin model; standart trade model; economies of scale, imperfect competition, and international trade; international factor movement; instruments of trade policy; trade liberalisation; GATT and WTO; international monetary issues; balance of payment; exchange rate and foreing exchange market; interest parity and PPP; world monetary system; optimum currency areas and European monetary system; global capital market.

Evaluation method: the final grade is based on the results of examination - 60%, tests - 20%, report and presentation - 20%

Self-reliant work: preparing for classes and writing the report and presenting it on the seminar

Reading list: P. R. Krugman, M. Obstfeld. International Economics: Theory and Policy. Pearson Education, Inc., 2003

TET2635 Baltoscandian and Russian Economy

4.0 ECP 3
2 - 0 - 1

Purpose: to present structural changes and economic development in the Baltoscandian region and Russia; to provide necessary skills for understading and analysing economic processes in the various regions of Russia and Baltoscadian terriotory

Results: 1. the student is familiar with economic environment in the Baltoscandian region and Russia;
2. is familiar with the economic development and structural changes in economy of the Baltoscandian region and Russia;
3. can explain economic relationships of Baltoscandian countries and the Commonwealth of Independent States (CIS); relationships of Russia and the European Union (EU);
4. can collect and analyze economic information and use it to develop own standpoints.

Subject matter: the economic development and structural changes in economy; framework for bussiness (tax policy, foreign trade policy, and other regulations); the role of foreign direct investments in economy; economic trends in the Baltoscandian countries and regions of Russia; economic relationships of Baltoscandian countries and the CIS; relationships of Russia and the EU

Evaluation method: the final grade is based on the results of exam - 60%, written assignment and making a presentation - 30% , active participation in the group-work - 10%.

Self-reliant work: preparing for the classes, writing an assignment and making a presentation

Reading list: Sutela, P. managing capital Flows in Estonia and Latvia. BOFIT Working Paper No 17.2001
Luihto, K. The organisational and managerial transformatio in turbulent business environment. Turku school of economics and business administration.1999

IDY0275 Business Information Systems

4.0 ECP 3
1 - 2 - 0

Purpose: Business information systems overview, systems integration and business process analysis

Results: 1. Capability to analyse and synthesise
2. Tecnological capability.
3. Critical thinking.
4. Busines models knowledge.
5. Business process description and management knowledge.
6. Balanced scorecard notation and usage knowledge.
7. Database systems architecture and usage knowledge.
8. Microsoft Access usage knowledge.
9. Data mining using Excel.

Subject matter: An introduction to information systems and development concepts, information technology, and application software. Explains how information is used in organizations and how Information Technology enables improvement in quality, timeliness, and competitive advantage. The principles of economics needed to be understood and used by managers and supervisors in information technologies. Real-world examples and applications will be used extensively, focusing heavily upon information technology. Organizational systems, planning, and decision process, and how information is used for decision support in organizations. Quality and decision theory, information theory, and practice essential for providing viable information to the organization. Concepts of IS for competitive advantage, data as a resource, IS and IT planning and implementation, TQM and reengineering, project management and development of systems, and end-user computing. Planning, designing, and constructing a physical system using database software to implement the logical design.


Evaluation method: Theoretical and practical questionnaire test - 30%.
Project on the example of the enterprise - 70%.

Self-reliant work: The analysis of some concrete eneterprise business processes. The description of business processes using business process modeling tool (Bizagi for example). Main aim is to find ways for business process improvement and automation.

Reading list: 1) K. C. Laudon, J.P.Laudon. Essentials of Management Information Systems: Transforming Business and Management 3. e. Prentice-Hall, Inc. 1999.
2) W. A. Brown, R.G. Laird, Clive Gee, T. Mitra. SOA Governance. Achieving and Sustaining Business and IT Agility..IBM Press. 2008. 390p.

TES8140 Statistical Analysis

4.0 ECP 3
1 - 0 - 2

Purpose: A survey of graphical and numerical methods in descriptive statistics is considered. The presentation of random event, the probability of event, conditional probability. Determination of mathematical operation related with probabilities of events. Presentation of random variable, the distribution function and density function of random variable. The classical discrete and continuous probability distributions. Sampling and sampling distributions. The construction of point and interval estimates. The methods of hypothesis control. The models of linear regression.

Results: The course must guarantee that graduates have: the ability to present the data set with different statistical methods; the ability to construct the sample space and to calculate the probabilities of different events; ability to calculate the different numerical characteristics for random variable; ability to specify the different types of probability distributions; ability to select the random sample for given population; ability to understand the difference between point estimate and interval estimate; using the random sample to calculate estimates for population mean; ability to understand different statements of hypothesis testing problem; ability to understand when to reject and when to accept the statistical hypothesis; ability to compose linear regression equation; ability to understand the different texts of mathematical statistics; ability to analyse the data sets and ability to understand the process of statistical inference; ability to discuss of statistical analysis problems with other specialists of different areas of economics.

Subject matter: Probabillities. Addition law, multiplication law. Basic probability distributions. Sampling and sampling distributions. Point estimation. Interval estimation of apopulation mean. Interval estimation of a population proportion. Determining the sample size. Hypothesis testing. Analysis of Variance. Simple linear regression and multiple regression. Index numbers. Forecasting.


Evaluation method: Written final examination  40%; two 45 minutes classroom tests/one 90 minutes classroom test (exercises)  20%; homework (exercises)  20%; lecture participation  20%.

Self-reliant work: Textbook reading. Working with exercises.

Reading list: 1. James T. McClave, P. George Benson and Terry Sincich, Statistics for Business and Economics. Pearson, 2011, 11-th edition.
2. David R. Anderson, Dennis J. Sweeney, Thomas A. Willams, Statistics for Business and Economics, Weast Publishing Company, 1996.

P1 Corprate finance and acoounting (core studies)

TAF2845 Accounting

5.0 ECP 4
2 - 0 - 2

Purpose: Acquire knowledge in recording transactions; know accounting for assets, liabilities and owners' equity; acquire skills for decision making on the basis of accounting data and for financial statement analysis.
Results: Students should be able to record business transactions and to complete accounting cycle, know basic principles in accounting for assets, liabilities and owners' equity, should be able to analyse financial statements, can calculate target profit, and be familiar with responsibility accounting.

Subject matter: The first part of the course presents and develops the fundamental accounting principles used for summarizing and reporting the operating and financial activities of business organizations (accounting and its environment; accounting concepts; financial statements; classification, analysis and recording of transactions; adjusting and closing procedures). The second part of the course focuses on financial statement analysis (objectives of financial statement analysis; horizontal and vertical analysis; ratio analysis etc.). The third part focuses on managerial accounting (preparing and using the statement of cash flows; introduction to management accounting; introduction to cost terms and purposes; using the cost data in decision making).


Evaluation method: Written exam

Self-reliant work: Home assignments

Reading list: Horngren, C. T., Harrison, W. T. Accounting. (2007). 7th ed. Pearson

TER2605 Corporate Finance

5.0 ECP 4
2 - 0 - 2

Purpose: To give an overview of the different areas of corporate finance; to introduce the basic tools and techniques of corporate finance, i.e. time value of money and risk/return.

Results: Student:
" has an overview of the different areas of corporate finance;
" has acquired a foundation in the basic tools and techniques of finance;
" has learned about extensive description of financing options available for companies;
" has an understanding of financial markets.

Subject matter: Introduction to Corporate Finance. Present value calculation. Introduction to Valuation. Bond Valuation. Stock Valuation. Net Present Value and other Investment Criteria. Making investment decisions. Return/Risk, the Security Market Line, and CAPM. Capital budgeting. Efficient markets. Raising Capital.


Evaluation method: 1) 20% homework. 2) 80% exam.

Self-reliant work: Solving homework, reading the book and lecture notes, preparation for midterm and final exam.

Reading list: Brealey, Myers and Allen. Principles of Corporate Finance, 11th Edition, McGraw-Hill.

P2 Management and marketing (core studies)

TMO2040 International Human Resource Management

5.0 ECP 4
2 - 0 - 2

Purpose: To develop a critical understanding of Human Resource Management theory and practice from both an international and comparative perspective and of core and novel human resource management topics and practices within a variety of international contexts and georaphical locations.

Results: Students are able to describe the main models of strategic human resource management and criteria for implementation in international perspective. Students understand the impact of cultural and institutional context in human resource management practices. Students are able to analyse the impact of international and global context in human resource management fields (work organization, recruiting, training and development, performance management, reward management) and connect human resource management policies and practices with different international and global context.

Subject matter: Employment in global context. Globalization and management convergence. The impact of cultural differences. Multinationals and employment. International and global HRM. Work organization and flexibility: employeer- and employee-driven flexible working practices in international context. Recruiting, managing and developing people: international perspective. Managing performance. Cultural context for performance management. Expatriate performance management. Reward in an international context. Expatriate pay. Global reward strategy. Culture change management. Culture and human resource management. Exporting company cultures.


Evaluation method: Active participation in seminars gives up to 30% of the final result; written exam gives up to 70% of the final result.

Self-reliant work: Literature review, case-anaysis

Reading list: Lucas, R. Lupton, B., Mathieson, H.:Human resource management in international context, CIPD, London 2007

TMO2180 Management

5.0 ECP 4
2 - 0 - 2

Purpose: 1. Give an understanding of the essence and main terms of organisation and management.
2. Explicate the problems of structure, division of labour, rights and responsibility of an organisation.
3. Explicate the essence of business processes and introduce the method of procedures analysis.
4. Give an overview of the essence, main terms, legal, theoretical and practical problems of corporate governance.

Results: 1. The student knows the main terms and can define them.
2. Can prepare and draft an organisation chart; knows their different variants and is able to analyse their structure.
3. Is able to prepare descriptions of business processes using the method of procedures analysis, is able to analyse them and make amendment proposals.

Subject matter: The course consists of three parts:
1. Management, organisation and division of labour: essence and classification of organisation; essence and classification of management; structure of organisation and chart of organisation; a typical structure of organisation of an industrial enterprise.
2. Process-focused treatment of organisation: essence of business processes and methods used; theoretical bases of procedures analysis; methodological bases of procedures analysis; essence and building of the rules of procedure.
3. Corporate governance: essence of corporate governance; classification of legal persons in Estonia; management (governance) bodies of companies; classification of owners; supervisory board and management board of a company; documents regulating a company; affiliated group.


Evaluation method: Final grade is based on examination.

Self-reliant work: Homework in an enterprise selected by the student in "Description and analysis of company's structure of organisation and business processes" The homework shall be defended in front of the class. Going through the compulsory literature.

Reading list: 1. Peter Drucker 1954 Practice of Management or
Peter Drucker 1973 Management - Tasks, Responsibilities, Practice
2. Edwards Deming 1986 Out of the Crisis

TMO2190 Strategic Management

5.0 ECP 4
2 - 0 - 2

Purpose: Strategic management is typically considered a capstone course in most business schools. Its primary aim is to examine a business corporation as a whole and to integrate the various functional disciplines. It includes industry analysis and competitive strategy with strategic factor analysis (SFAS). It includes corporate governance, social responsibility and ethics. Written case analysis (strategic audit) covers all the issues in the case in a complete manner including references and exhibits. The course takes a practical view of how business corporations actually function in the real world.

Results: Student has the solid knowledge to examine a business corporation as a whole and to integrate the various functional disciplines, understanding how business corporations actually function in the real world. The strategic audit enables the student to do a complete strategic analysis in a short (three to four-pages) outline. Student is able critically analyse and evaluate existing business and work out strategies.

Subject matter: 1. Basic concepts of strategic management
2. Corporate governance, social responsibility and ethics
3. Environmental scanning
4. Strategy formulation
5. Strategy implementation
6. Evaluation and control


Evaluation method: The course ends with a written examination; the final mark includes 50% of the homework result.

Self-reliant work: Written case analysis (strategic audit) covering all the issues in the chosen case in a complete manner. Correct short presentations for the seminars. If needed additional tasks.

Reading list: Hilb, M. (2012). New Corporate Governance: Successful Board Management Tools. 4th ed. Berlin: Springer.
Wheelen, T. L., & Hunger, J. D. (2012). Strategic management and business policy, toward global sustainability. 13th ed. New Jersey: Prentice Hall.

Additional study material: Strategic Management Journal (SMJ), Strategy Entrepreneurship Journal (SEJ), Global Strategy Journal (GJS), Harvard Business Review (HBR) etc. Using remote library access https://portal.ttu.ee/. Strategic Management Society (http://www.linkedin.com/).

TMM2080 Business to Business Marketing

5.0 ECP 4
2 - 0 - 2

Purpose: To give an overview of business to business nature characteristics. To give skills for organizing marketing activity.

Results: A student:
knows the characteristics of business to business marketing;
can analyse different aspects of business to business marketing;
can evaluate the needs and buying capability of potential business client;
can adapt marketing activities to a business market;
knows the selling process of business market and can raise selling arguments.

Subject matter: Characteristics of business to business marketing and it`s differences compared to consumers` marketing. Characteristics of service and products offered for business market. Purchasing attitudes. Organizing a systematic marketing activities when the clients are companies. Specialities of marketing communication in business to business marketing.


Evaluation method: The final grade is based on two components: written home assignment 40%; written exam 60%.

Self-reliant work: Written home assignment, solving situation exercise based on a case occurring in business to business marketing. The assignment may be carried out as a group assignment.

Reading list: Wright, Ray. Business-to-business marketing: a step-by-step guide. Harlow:FT Prentice-Hall, 2004.
Best J. Roger. Marketing-based Management: strategies for growing customer value and profitability. Prentice-Hall, 2004.

P3 Entrepreneurship and law (core studies)

TMK8300 Business Ethics

3.0 ECP 1
0.5 - 0 - 0.5

Purpose: To give an overview of the ethics theories and to introduce main principles of corporate social responsibility (CSR)
To provide an information about how to implement CSR into real business life. To introduce methods to solve ethical dilemmas.

Results: After successful passing the course the student:
- is able to use ethics theories in analysing and solving business ethics conflicts;
- is able to implement CSR-policy in the real business life.

Subject matter: Relevance of ethical questions in business life (traditional world of homogeneous values; contemporary world of plural values; moral policy of an innovative enterprise). Theoretical approaches to business ethics (teleological and deontological theories). Legal and ethical arguing (the insufficiency of law; positive and negative rights; consumer rights.) Corporate social responsibility (CSR; CSR-audits; socially responsible investment - SRI)


Evaluation method: Preliminary examination (credit test)- written homework (case study); using legal, utilitarian and deontological approaches), and presentation

Self-reliant work: Find, deskribe, analyse and solve the case (ethical conflict in real business life)

Reading list: Hoffman, W.M (2001) Business Ethics: Reading and Cases in Corporate Morality. (fourth edition) McGraw-Hill Higer Education.

TMJ2060 Entrepreneurship and Small Business

4.0 ECP 3
1 - 0 - 2

Purpose: Provide knowledge that would enable to evaluate one`s potential for becoming an entrepreneur; to evaluate business ideas, prepare a business plan and plan further development and growth of a small business to be set up; to give a general knowledge about the main trends of entrepreneurship development and about different forms of entrepreneurship.

Results: Ability to analyse and evaluate business ideas and prepare a business plan and present it;
Ability to take essential business start-up decisions;
Ability to plan business strategy and development;
Obtaining teamwork experience when developing business ideas and finding possibilities for their implementation;
Basic knowledge of enterprise bookkeeping and financial management
Awareness of the history of entrepreneurship, development tendencies and different forms of entrepreneurship.

Subject matter: The concept of the course is based on the entrepreneurship process starting from the business idea generation, opportunity recognition, assessment and implementation on three levels: individual (personal traits, motivation, and skills), group (business ideas, contribution of team members) and society (economic policy, business environment, technology). The main topics are: personality traits of entrepreneurs and owner/manager, role of small business in economy, international comparisons, development of entrepreneurship in Estonia, typology of entrepreneurs, the entrepreneurial decisions, advantages and disadvantages of small business ownership, barriers in starting a business, different possibilities for becoming an entrepreneur: franchising, buying an existing business, starting a new business, finding and evaluating a business idea, development of a business idea, steps in starting a business, choosing a legal form, location and business name, home based business, introduction to business plan, choosing and evaluating the industry, main principles of social corporate responsibility, necessary resources for starting a business, initial capital requirements, kinds of capital, debt financing, venture capital, financial plans in the business plan, financial plans - organisation of financial management, balance sheet, profit and loss statement, cash flow forecast, break-even analysis, small business strategy, entrepreneurship and innovation, role of the leader, leadership style, culture of the organization, growth potential of the business, different growth possibilities, family business.


Evaluation method: 70 (10+10+35+15) % homework and 30% final exam

Self-reliant work: 1) Franchise.2) Homework_Legendary entrepreneur_or_Attractive enterprise. 3) Questions about innovation.(Video lecture) 4) Business plan (1-3 students in group).

Reading list: Burns, P. (2011). Entrepreneurship and Small Business. Basingstoke ; New York : Palgrave, 516 lk. ; Mariotti, S., Glackin, C. (2015). Entrepreneurship & Small Business Management /
Boston (Mass.) [etc.] : Pearson, 719 lk.; Oakey, R. (2012). High-technology entrepreneurship, London ; New York : Routledge, 186lk

TTO2350 European Community Law

5.0 ECP 4
2 - 0 - 2

Purpose: The aim of the subject is to give an overview of European Union legal systems in relation to both institutional and substantial law and to give the students an understanding of why and how the EU operates. The focus is on the law of European Communities (first pillar of EU)

Results: Students will understand the functioning of the EC, the division of competences between EC and Member States and will acquire knowledge of main rights and obligations both for MS as well for citizens. Theory will be put in practice through case studies.

Subject matter: European Community law consists of institutional and material law. Institutional law: Legal principles of the functioning of EU, hierarchy of legislation, institutions (European Commission, European Parliament, Council of European Union, European Court of Justice) and their competences, division of competences between Community and Member States, approximation of legislation, decision making procedures
" Material (substantial) law: Policy areas in shared competences (functioning of the internal market, four basic freedoms). Policy areas in Community competence (trade, agriculture, competition). Policy areas in Member State competences (competitiveness and industrial policy, taxation)
" EU macroeconomic regulation: Growth and Stability Pact, Economic and Monetary Union, budget. Regional policy.


Evaluation method: .

Self-reliant work: The students must read the assigned research papers and other materials

Reading list: Craig, P, De Burca, g. EU law. Texts, cases and materials. 2003
Special studies (special studies)

TMJ2050 Business Game

4.0 ECP 3
0 - 0 - 3

Purpose: to develop using different business and economics' analysis and team work skills

Results: business success or business failure, decision making in limitated information society

Subject matter: Managing game is a simulation of enterprise management. Development of enterprise strategy and implementation of the strategy in an international context are done as teamwork. Decisions are made based on limited information and outcome of enterprises is dependent on other players decisions. Acquired skills from different fields of business disciplines (marketing, management, financial management, strategic management) will be employed comprehensively. Teamwork skills development has important role in the game.


Evaluation method: Perfomance of Group Result 20%
Business Report 60%
Presentation of Business Report 20%

Self-reliant work: to compose a strategic plan for enterpise after the first activity year

Reading list: LUDUS manual (jagatakse kursuse alguses)

TMJ2040 Supply Chain Management

4.0 ECP 2
1 - 0 - 1

Purpose: The course is intended to develop understanding of both strategic and operational issues of logistics and supply chain management. On completion of the course, the students know the concepts and methods of supply chain management, the applications and ways to analyse supply chains and supply relations and are able to solve problems and inefficiencies of supply chains.

Results: - Students are able to observe and analyse strategic and operational issues of logistics and supply chain
- Are able to understand the concepts and deal with basic problems that may appear in establishing or participating in supply chains
- Are skilled to perceive interdisciplinary relations in supply chain management and are able to use that information in decision making
- Are able to choose suitable methods and technologies for solving supply chain problems
- Are able to analyse problems from multiple viewpoints and to present, discuss and defend their views
- Have developed teamworking and management skills via groupwork
- Are able to further acquire knowledge by studying and being able to understand higher level academic approaches of supply chain management

Subject matter: Supply chain management and logistics. Dimensions of logistics. Demand management and customer service. Procurement. Logistical operations integration. Communications. Cost trade-offs. Information systems. Mapping of materials and information flows. Transportation and inventory management. Warehousing. Material management. Packaging. Global logistics. Environmental aspects of logistics. Quest lecturers. Site visits.


Evaluation method: The course consists of lectures and seminars. The lectures present theories and applications while the seminars will deal with selected topics and imply that students prepare themselves individually, resulting in seminar discussions and written answers. The maximum points in grading are 100 points, from which 16 comes from assessing students classroom activities, 42 from 3 homework assignments and 42 from final examination. Regarding home assignments, the main points assessed are analytical capabilities, knowledge and understanding of business processes and presentation skills. The final examination assesses knowledge of the subject theory and applications and analytical skills.

Self-reliant work: Students must work in groups to solve tasks and analyse case studies.

Reading list: " Loenguslaidid ja jaotusmaterjal
" Bowersox D., Closs J. "Logistical Management - The Integrated Supply Chain Process" McGraw-Hill International Editions, Singapore, 1996.
" Christopher M. "Marketing Logistics" Butterworth-Heinemann, UK, 1992.

TMM2740 Marketing Communication

4.0 ECP 3
1 - 0 - 2

Purpose: Teach students to evaluate and plan marketing campaigns, explain theories, models, methods and techniques required for decision. making in marketing communication.

Results: Student has acquired theoretical foundations of marketing communication, marketing campaign planning and evaluation skills.

Subject matter: Indirect and direct communication. Integrated marketing communication. Brand communication. Means of marketing communication. Media advertising. Sales promotion. PR management. Direct marketing. Sponsorship. Event marketing. Fairs. Multimedia.


Evaluation method: Homework and presentation (50%);
written examination (50%).

Self-reliant work: Scientific article overview presentation.

Reading list: Copley,P. Marketing communications management: concepts and theories, cases and practices. Elsevier Butterworth-Heinemann, 2004.

TMM2700 Marketing Research

4.0 ECP 3
1 - 0 - 2

Purpose: Provide a structured understanding of marketing research business functions, tools and strategies as well as determine the place, role and purpose of research function in an organisation.

Results: Student has a structured understanding of marketing research business functions, tools and strategies. Has ability to brief the MR agency. Can gather and analyze the data for their Master Thesis.

Subject matter: The role of MR and customer information in decision making. The MR process. Classification of data collection method. Primary and secondary data sources. Research design. Observation, focus groups and other qualitative methods. The sampling process. Probability and non-probability sample. Sources in survey error. Measurement in MR. Basic concepts in measurement. The questionnaire design process. Types of statistical analyses used in MR. Ethics in MR. ESOMAR organization, the ESOMAR rules. Main developments and trends in MR. Preparing and presenting research results. Organizing the written report.


Evaluation method: The final grade consists of the three parts:
1). Course paper 30%
2). Individual PC based exercises- have to be submitted after each practice on the weeks 4, 6 and 8 - 30%
3). Written exam 40%

Self-reliant work: 1). Draft of research plan
2). Review of a scientific article related to merketing research subject.

Reading list: Marketing Research: An Applied orientation/ Naresh K. Malhotra. Upper Saddle River (N.J.): Pearson/ PrenticeHall, 2007.
Bradley, N. Marketing Research: tools & techniques/ Nigel Bradley Oxford [etc.]: Oxford University Press, 2007.

TAF2080 International Taxation

4.0 ECP 3
2 - 0 - 1

Purpose: To provide students with the knowledge of international and EC tax law.

Results: Students are familiar with the principles of international taxation and EC tax law as well as the taxation of main cross border transactions.

Subject matter: Principles and sources of international and EC tax law, tax treaties, residency, permanent establishment, taxation of natural persons, transfer pricing, interests, royalties, dividends, business profit, capital gains, tax avoidance and tax evasion, structuring, VAT, excise tax.


Evaluation method: Written exam.

Self-reliant work: Home assignment

Reading list: Legal acts.
Recommended: Rohatgi, R. Basic International Taxation: Principles. Richmond Law & Tax Ltd, 2005/2006; Van Raad, K. Materials on International and EC Tax Law. International Tax Center Leiden, 2005/2006; Terra, Ben J. M. EC Tax Law

TMM2520 E-Marketing

4.0 ECP 3
2 - 0 - 1

Purpose: Learning e-marketing models and internet as supporting tool for marketing.Learning possibilities of information-communication tecnology. Analysing e-marketing tools and creating new solutions. Teamwork and presentation training.

Results: After course student is orientating in e-marketing basic terms and basic models. Student understands e-marketing models and contemporary solutions in information-communication technology. Student has skills that are necessary for electronic marketing processes.

Subject matter: Electronic marketing, electronic commerce and electronic business terms. Automatization of marketing functions. Value chain, value system and value network. Types of e-commerce. Internet-based market research. Database marketing. Customer relationship management. Electronic marketing mix. Electronic product. Price diferenciation. Automatization of distribution functions. Marketing communications in e-marketing.


Evaluation method: Homework and presentation (50%), written examination (50%)

Self-reliant work: Essay and presentation of essay.

Reading list: Smith,PR.,Chaffey, D. eMarketing eXcelence. Elsevier, 2005.
Grocery E-Commerce. Consumer Behaviour and Business Strategies. Ed. by Kornum, N. and Bjerre, M. Edward Elgar Publishing, 2005.

TTP2350 Innovation Management

4.0 ECP 3
2 - 0 - 1

Purpose: Provide knowledge on innovation and its management, product development, technology transfer and other problems in this area.
Results: The student having successfully passed the course: 1) understands and is able to analyse, evaluate and synthesise innovation in the contemporary world; 2) knows the main principles of sustainable development and is able to analyse them; 3) can formulate innovation related topical problems and knows the major schools of thought and development trends; 4) is able to see interdisciplinary connections and communicate with experts of other areas; 5) can understand and formulate broader political, economic, social, legal and environmental problems behind the innovation problems; 6) is able to evaluate and analyse innovation development problems in enterprises and in the whole country; 7) is adaptable in new technological, technical, ecological, political and social situations; 8) has positive attitudes and is able to solve innovative problems and make optimal decisions.
Subject matter: The importance of innovation. Models of innovation. Innovation as a management process. The context of innovation and the role of the state. Managing innovation within firms. Innovation and operations management. Managing intellectual property. Managing technology and knowledge. Managing organisational knowledge. Strategic alliances and networks. Management of research and development. The role of technology transfer in innovation. New product development. Product and brand strategy. New product development. Packaging and product development. Market research and its influence on new product development. Managing the new product development team.

Evaluation method: .

Self-reliant work: The students must read the assigned research papers and other materials

Reading list: Trott, P. Innovation Management and New Product Development. Pearson Education. 2005.
Burgelman, R. A.; Maidique, M. A.; Wheelwright, S. C. Strategic Management of Technology and Innovation. McGraw-hill Higher Education. 2000.
TTR2355 Project Management and Cost-benefit Analysis

4.0 ECP 3
2 - 0 - 1

Purpose: To give an understanding of the principles of project management and assessment of costs and benefits in the public sector projects.
Results: The students who have successfully passed the course will know the principles of project management, calculation of social costs and benefits and will be able to use the knowledge in practice.
Subject matter: Project identification and types. Project management as a method of management. Project cycle. Strategic project management. Operational project management. Project planning. Methods of cost-benefit analysis. Social costs and benefits. Case studies in cost-benefit analysis.

Evaluation method: exam

Self-reliant work: The students must read the assigned research papers and other materials

Reading list: " Meredith, Jack & Samuel Mantel (2006): Project Management. A Managerial Approach, Wiley, 6th ed. (international edition), chs. 1-13.
" Perkins, Frances (1994): Practical Cost Benefit Analysis. Basic Concepts and Applications, Mac-Millan, chs. 1-7,
TER2414 Economics of Competition

4.0 ECP 4
2 - 0 - 2

Purpose: To provide an overview of the determinants competitiveness using interdisciplinary approach (building from the perspective of firms, clusters, subnational units, nations), and improve the skills to analyse the determinants of competitiveness in the context of an industry, cluster or a region.

Results: Student 1. understands the determinants of national and regional competitiveness, 2. is able to use the Porter's diamond framework for assessing the influence of industries, industry clusters and economic regions and 3. is able to perform strategic analysis of an industry, an industry cluster or a region.

Subject matter: Introduction to competition; Porter's definition of competitiveness; Porter's competitive forces; the Diamond model; clusters and cluster development; competition across locations; alternative views on clusters; cluster internationalisation; economic strategy for competitiveness; role of institutions for collaboration; attracting foreign investment.


Evaluation method: participation in discussions 20%, test 10%, exam 70%

Self-reliant work: Reading study materials

Reading list: Porter, Michael E. 2008. "On competition" Harvard Business School Publishing, valitud kaasused

TER1414 Financial Management - Case Based Analysis

5.0 ECP 4
2 - 0 - 2

Purpose: To provide in-depth understanding of financial management concepts and issues, and to develop skills of financial management using analysis of cases.

Results: The student:
1. Has in-depth understanding of financial management concepts and issues.
2. Is able to solve financial management problems.

Subject matter: Is determined based on the selected cases covering the following financal management topics: working capital management; financial planning; sources of capital, cost of capital and capital structure decisions; handling excess cash; dividend policy; company valuation; analysis of financial distress.


Evaluation method: Final score = 25% group work during lecture + 25% group work at home + 6% individual test + 44% individual exam

Self-reliant work: Reading cases and supplementary readings, participating in the preparation of grpup solutions

Reading list: Kaasuste tekstid ning õppejõu poolt määratud täiendav lugemismaterjal Moodle'is.

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