Course code BIOEC350

BIOEC350 Biologically based production, industrial processes and markets

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Showing course contents for the educational year 2022 - 2023 .

Course responsible: Eirik Romstad
Teachers: Aida Tabarroky Ardebili
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: EN, NO
(NO=norsk, EN=Engelsk)
Teaching exam periods:
This course starts in the Spring parallel. This course has teaching/evaluation in the Spring parallel. 
Course frequency: Annually
First time: Study year 2021-2022
Preferential right:
Limited to students on the master program in Bioeconomy - Biobased Value Creation and Business Development (M-BIOEC). 
Course contents:

The course has two main parts: (i) Production-economics including industrial processes and (ii) market analysis.

The course covers non-linear optimization, linear programming and analysis of supply and demand in the marketplace for biologically based products.  The chosen methods are being utilized in order to highlight the impact various decisions in the production process and market demand have on profitability.  

Learning outcome:

Knowledge:

The student should know how various elements impact the profitability of different production methods.  Additionally, the students should know how a market-focus impacts choices the company will need to take related to raw material and production processes.  Value chain analysis and identification of market potential for rest-material are sentral areas that impacts profitability, and the students should have a strong understanding of these areas.

The students will learn how a value chain perspective can promote increased profitability. This will be done through analysis of different types of manufacturing approaches with the aim to understand how changes in production method, processing and refining can lead to increased profitability.

Learning activities:
The course is divided in three main parts: (i) lectures/exercises related to markets and consumer behavior, (ii) lectures/exercises related to the economics of production and industrial processes, and (iii) a group term paper on a self selected topic, where the work on the paper includes student presentations with feed back from fellow students and the teaching staff.  The term paper is to have a value chain perspective, where clarification of what is contained in the value chain is essential to frame and define the paper. 
Teaching support:

Lectures with discussions related to theories and methods, and how these theories and methods can be used to analyze specific bio-economic problems.

Exercises where students gain experience on applying methods and theories taught on applied issues.

A term paper with advicing and feedback on problem definition, chosen theories and methods, and analysis on the term paper topic.

Syllabus:
The reading curriculum will be published prior to the start of the course. Minor adjustments may take place during the course.
Prerequisites:
Bachelor degree in business administration, economics, industrial economics, biological production or technology/engineering.
Recommended prerequisites:
None
Mandatory activity:

Approved presentation and discussion on self selected value chain.

Mandatory presence on all the group presentations.

Assessment:
Portfolio Combination: Term paper in groups (3-4 students): Formulation of problem statement (10%), presentation of the first draft of the term paper (40%), and finished term paper (50%).
Nominal workload:
250 hours
Entrance requirements:
-
Reduction of credits:
-
Type of course:
16-20 lectures + 4-8 exercise sessions
Note:
-
Examiner:
External examiner checks the quality of syllabus,and principles for evaluation of papers
Examination details: Portfolio: Letter grades