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Business Mathematics

Business Mathematics

Code ID: MAT1TF010
Scope: 5 ects (135 h)
Timing: 3rd semester
Language: English
Curriculum: DIG2015
Course level: core studies
Course type: compulsory

Learning outcomes
Upon successful completion of the course, the students

  • knows statistical basic concepts and can apply them in business
  • manages most often repeated calculations in business
  • is able to price products and services
  • is able to compose calculations of profitability
  • can calculate impact of general price changes
  • can present time series by Excel
  • manages simple interest and compound interest calculations
  • is able to choose correct calculation method for every day problem
  • can compare profitability of different investment options
  • is fluent with Excel in business calculations

Learning outcomes will be reached mostly by completing assignments.

Contents

  • statistical basic concepts (presenting data, measure scales, variables, grouping, most common parameters, correlation and regression)
  • percent calculations for business applications, value added tax
  • profitability calculations
  • index numbers
  • time series with Excel
  • simple interest and compound interest
  • periodic payments
  • investments
  • Excel tools

Starting level and linkage with other courses
No prerequisites.

Evaluating
Passed course is graded on scale 1 - 5

Grade 1
Moderate understanding of course items and partial ability to apply them in business situations. Can define most common concepts and is able to use them in wider contents.

Grade 3
Reasonable understanding of course items and sufficient ability to apply them in business situations.
Can define and apply concepts in wider contents. In business problem situations is able to choose a correct calculation methods and interpret result to accurate decision.

Grade 5
Good understanding of course items and good ability to apply them in business situations. Is able to define and apply all necessary concepts in wider contents. Has no problem in choosing correct calculation methods for most common business problems and deeply knows how to interpret calculation results to business decisions.

Working life connections
Course content as itself is deeply connected to business practices.

International dimensions
Items which are learned in the course can mostly be applied internationally.

Learning methods
The learning methods of this course are the following:

a. Contact lessons, assignments and exam(s) OR
b. Independent studies, assignments and exam(s) online OR
c. Appropriate passed course in some other institute or passing an exam to present sufficient skills

Learning material
Any statistics or financial calculation related book.
Material supplied in contact classes or online by teacher.

Students own evaluating as well as course feedback is part ot the course.

Course teachers
Kalevi Keinänen, Jukka Mutikainen and Mikko Valtonen