spring 2022
TEK-3501 Innovation and Economy - 5 ECTS

Application deadline

Applicants from Nordic countries: December 1st. Exchange students and Fulbright students: October 1st.

Type of course

Theoretical course. The course can be taken as a single course.

Admission requirements

A relevant undergraduate Bachelor Engineering program with minimum 25 credits mathematics, 5 credits statistics, 7,5 credits physics.

Application code: 9371

Course content

The contents of the course is made up of two major elements.

Introduction to the concept of Innovation through Design Thinking with a particular emphasis on the process  of idea development.

Business planning and modeling using the Osterwalders Canvas as a foundation. The course will also cover the most necessary elements of a business plan.

These theoretical concepts are put into practice through group oriented exercises.

Objectives of the course

Provide students with the knowledge and training in main concepts, models and tools within the fields of business development with a focus on innovation and entrepreneurship.


Upon completing the course the candidate:

  • K1: Has basic knowledge in fields such as innovation and business idea creation.
  • K2: Has basic knowledge of business planning and modeling
  • K2: Has basic knowledge of financial and economic elements in relation to new business creation.


Upon completing the course the candidate:

  • S1: Can participate in a creative process using specific tools in order to develop innovative solution to real problems.
  • S2: Can generate a business model for a concrete innovative business idea.
  • S3: Can develop a realistic framework for a business plan around a concrete innovative business idea.

General competence:

Upon completing the course the candidate:

  • GC1: Understand the major elements in the process of turning a problem into a profitable business. 
  • GC2: Understand how to effectively use process tools like Osterwalders businessmodel generator or Design Thinking.

Language of instruction and examination


Teaching methods

During two separated and concentrated weeks all theory and projectoriented work will be done. Each day of Monday-Thursday (0800-1600) are split into one half of theoretic lectures and one half of project work in teams.At the end of each week, each project group (team) will present a project report.

Information to incoming exchange students

This course is open for inbound exchange student who meets the admission requirements. Please see the Admission requirements" section".

Master Level

Do you have questions about this module? Please check the following website to contact the course coordinator for exchange students at the faculty: https://en.uit.no/education/art?p_document_id=510412 


Mandatory tasks

The specification of mandatory tasks will be given in the beginning of the course. 


Two distributed assignments are to be completed. These will be presented in the start of each of the two weeks. Students will be divided into groups, and each group will be expected to produce a report for each week. These two reports will be graded and combined and represent 60% of the total assessment.

A final 3 hours written exam will count as the rest 40% of the total assessment. 

The grading will be done by using a A-F grading scale, where F is a fail.

Re-sit exam

A 3 hour written re-sit exam will be arranged for this course. Students who failed in the ordinary written exam and have passed the group report assessment may attend the 3 hour written re-sit exam.

  • About the course
  • Campus: Narvik |
  • ECTS: 5
  • Course code: TEK-3501
  • Tidligere år og semester for dette emnet