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Business MathematicsLaajuus (3 cr)

Code: TZLM8300

Credits

3 op

Teaching language

  • Finnish
  • English

Responsible person

  • Pasi Lehtola
  • Antti Kosonen

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Qualifications

Basic use of spreadsheets

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Enrollment

18.11.2024 - 09.01.2025

Timing

13.01.2025 - 20.04.2025

Number of ECTS credits allocated

3 op

Virtual portion

2 op

Mode of delivery

34 % Face-to-face, 66 % Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

20 - 25

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Groups
  • TLS24KMM
    Logistiikka - tutkinto-ohjelma (AMK)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

The course is implemented from January 13, 2025, to April 20, 2025.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Online instruction, classroom instruction.

The course is mainly completed independently. Theory is studied using written materials and instructional videos. Examples are reviewed and practiced during classroom sessions. During weekly online sessions, assistance with course exercises is available.

Active completion of course exercises is essential for achieving the learning objectives.

Practical training and working life connections

-

Exam dates and retake possibilities

Exams will be held during the week starting on April 14th.

The first resit will be on the week starting on May 5th, 2025.

The second resit will be on the week starting on May 26th, 2025.

International connections

-

Alternative completion methods

Information of alternative implementations available at https://opintohaku.jamk.fi/.

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 18h
- exams approximately 4h
- independent studying approximately 59h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- profit margin calculations
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

If a student enrolled in the course does not show activity within three weeks of the start of the course, the enrollment will be rejected.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

18.11.2024 - 09.01.2025

Timing

13.01.2025 - 20.04.2025

Number of ECTS credits allocated

3 op

Mode of delivery

Face-to-face

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

20 - 45

Degree programmes
  • Bachelor's Degree Programme in Construction Management
Teachers
  • Antti Kosonen
Groups
  • TRM24KMM
    Rakennusmestari (AMK), monimuotototeutus

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

The course is implemented from January 13, 2025, to April 20, 2025.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Online instruction, classroom instruction.

The course is mainly completed independently. Theory is studied using written materials and instructional videos. Examples are reviewed and practiced during classroom sessions. During weekly online sessions, assistance with course exercises is available.

Active completion of course exercises is essential for achieving the learning objectives.

Practical training and working life connections

-

Exam dates and retake possibilities

Exams will be held during the week starting on April 14th.

The first resit will be on the week starting on May 5th, 2025.

The second resit will be on the week starting on May 26th, 2025.

International connections

-

Alternative completion methods

Information of alternative implementations available at https://opintohaku.jamk.fi/.

Student workload

3cr = 3*27h = 81h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- profit margin calculations
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

If a student enrolled in the course does not show activity within three weeks of the start of the course, the enrollment will be rejected.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

18.11.2024 - 09.01.2025

Timing

13.01.2025 - 20.04.2025

Number of ECTS credits allocated

3 op

Virtual portion

3 op

Mode of delivery

Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

10 - 15

Degree programmes
  • Bachelor's Degree Programme in Logistics
  • Bachelor's Degree Programme in Construction Management
Teachers
  • Antti Kosonen
Groups
  • UTIVERKKO
    Institute of New Industry, online learning (mechanical, logistics and civil engineering)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

The course is implemented from January 13, 2025, to April 20, 2025.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Online instruction.

The course is mainly completed independently. Theory is studied using written materials and instructional videos. Examples are reviewed and practiced during classroom sessions. During weekly online sessions, assistance with course exercises is available.

Active completion of course exercises is essential for achieving the learning objectives.

Practical training and working life connections

-

Exam dates and retake possibilities

Exams will be held during the week starting on April 14th.

The first resit will be on the week starting on May 5th, 2025.

The second resit will be on the week starting on May 26th, 2025.

International connections

-

Alternative completion methods

Information of alternative implementations available at https://opintohaku.jamk.fi/.

Student workload

3cr = 3*27h = 81h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- profit margin calculations
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

If a student enrolled in the course does not show activity within three weeks of the start of the course, the enrollment will be rejected.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2024 - 22.08.2024

Timing

02.09.2024 - 08.12.2024

Number of ECTS credits allocated

3 op

Mode of delivery

Face-to-face

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

20 - 58

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Scheduling groups
  • TLS23SA (Capacity: 35. Open UAS: 0.)
  • TLS23SB (Capacity: 35. Open UAS: 0.)
Groups
  • TLS23S1
    Logistiikka - tutkinto-ohjelma (AMK)
Small groups
  • TLS23SA
  • TLS23SB

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

The course is implemented from September 2, 2024, to December 8, 2024.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Flipped learning: The theory is studied independently using written material and instructional videos before the weekly lesson. During the weekly contact session, the focus is on problem-solving exercises and personal guidance. Attendance is mandatory at the weekly sessions.

Active participation in solving exercise tasks is necessary to achieve the learning objectives.

Practical training and working life connections

-

Exam dates and retake possibilities

Exams will be held during the week starting on December 2nd.

The first retake session will begin on the week starting on January 13, 2025.

The second retake session will begin on the week starting on February 3, 2025.

International connections

-

Alternative completion methods

- Hybrid implementation in Finnish in the fall of 2024 or the spring of 2025
- Online implementation in Finnish in the spring of 2024
- Face-to-face implementation in English in the fall of 2024

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 18h
- exams approximately 4h
- independent studying approximately 59h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- profit margin calculations
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

If a student enrolled in the course does not show activity within three weeks of the start of the course, the enrollment will be rejected.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2024 - 22.08.2024

Timing

02.09.2024 - 08.12.2024

Number of ECTS credits allocated

3 op

Mode of delivery

Face-to-face

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • English
Seats

20 - 44

Degree programmes
  • Bachelor's Degree Programme in Purchasing and Logistics Engineering
Teachers
  • Antti Kosonen
Groups
  • TLP24VS
    Bachelor's Degree Programme in Purchasing and Logistics Engineering (AMK) vaihto-opiskelu/Exchange studies
  • TLP23S1
    Bachelor's Degree Programme in Purchasing and Logistics Engineering

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

The course is implemented from September 2, 2024, to December 8, 2024.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Flipped learning: The theory is studied independently using written material and instructional videos before the weekly lesson. During the weekly contact session, the focus is on problem-solving exercises and personal guidance. Attendance is mandatory at the weekly sessions.

Active participation in solving exercise tasks is necessary to achieve the learning objectives.

Practical training and working life connections

-

Exam dates and retake possibilities

Exams will be held during the week starting on December 2nd.

The first retake session will begin on the week starting on January 13, 2025.

The second retake session will begin on the week starting on February 3, 2025.

International connections

-

Alternative completion methods

- Hybrid implementation in Finnish in the fall of 2024 or the spring of 2025
- Online implementation in Finnish in the spring of 2024
- Face-to-face implementation in English in the fall of 2024

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 18h
- exams approximately 4h
- independent studying approximately 59h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- profit margin calculations
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

If a student enrolled in the course does not show activity within three weeks of the start of the course, the enrollment will be rejected.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2024 - 22.08.2024

Timing

26.08.2024 - 18.12.2024

Number of ECTS credits allocated

3 op

Virtual portion

1.5 op

Mode of delivery

50 % Face-to-face, 50 % Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

20 - 25

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Groups
  • TLS23SMM
    Logistiikka - tutkinto-ohjelma (AMK)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

The course is implemented from September 2, 2024, to December 8, 2024.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Online instruction, classroom instruction.

The course is mainly completed independently. Theory is studied using written materials and instructional videos. Examples are reviewed and practiced during classroom sessions. During weekly online sessions, assistance with course exercises is available.

Active completion of course exercises is essential for achieving the learning objectives.

Practical training and working life connections

-

Exam dates and retake possibilities

Exams will be held during the week starting on December 2nd.

The first retake session will begin on the week starting on January 13, 2025.

The second retake session will begin on the week starting on February 3, 2025.

International connections

-

Alternative completion methods

- Hybrid implementation in Finnish in the fall of 2024 or the spring of 2025
- Face-to-face implementation in Finnish in the fall of 2024
- Face-to-face implementation in English in the fall of 2024

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 18h
- exams approximately 4h
- independent studying approximately 59h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- profit margin calculations
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

If a student enrolled in the course does not show activity within three weeks of the start of the course, the enrollment will be rejected.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

20.11.2023 - 04.01.2024

Timing

08.01.2024 - 30.04.2024

Number of ECTS credits allocated

3 op

Virtual portion

3 op

Mode of delivery

Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 15

Degree programmes
  • Bachelor's Degree Programme in Logistics
  • Bachelor's Degree Programme in Construction Management
Teachers
  • Antti Kosonen
Groups
  • UTIVERKKO
    Institute of New Industry, online learning (mechanical, logistics and civil engineering)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 8.1.2024 - 30.4.2024.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus.
E-learning: Weekly online lessons, exercises and independent work.

Practical training and working life connections

-

Exam dates and retake possibilities

Exam dates will be published at the beginning of the course.

International connections

-

Alternative completion methods

- Online implementation in Finnish in the spring or autumn of 2024
- Face-to-face implementation in Finnish in the fall of 2024
- Face-to-face implementation in English in the fall of 2024

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 10h
- guidance session approximately 7h
- exams approximately 4h
- independent studying approximately 60h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

20.11.2023 - 04.01.2024

Timing

08.01.2024 - 30.04.2024

Number of ECTS credits allocated

3 op

Virtual portion

2 op

Mode of delivery

34 % Face-to-face, 66 % Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 35

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Groups
  • TLS23KMM
    Logistiikka - tutkinto-ohjelma (AMK)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 8.1.2024 - 30.4.2024.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus.
E-learning: Weekly online lessons, exercises and independent work.

Practical training and working life connections

-

Exam dates and retake possibilities

Exam dates will be published at the beginning of the course.

International connections

-

Alternative completion methods

- Online implementation in Finnish in the spring or autumn of 2024
- Face-to-face implementation in Finnish in the fall of 2024
- Face-to-face implementation in English in the fall of 2024

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 10h
- guidance session approximately 7h
- exams approximately 4h
- independent studying approximately 60h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

20.11.2023 - 04.01.2024

Timing

08.01.2024 - 30.04.2024

Number of ECTS credits allocated

3 op

Virtual portion

2 op

Mode of delivery

34 % Face-to-face, 66 % Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 30

Degree programmes
  • Bachelor's Degree Programme in Construction Management
Teachers
  • Antti Kosonen
Groups
  • TRM23KMM
    Rakennusmestari (AMK)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 8.1.2024 - 30.4.2024.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus.
E-learning: Weekly online lessons, exercises and independent work.

Practical training and working life connections

-

Exam dates and retake possibilities

Exam dates will be published at the beginning of the course.

International connections

-

Alternative completion methods

- Online implementation in Finnish in the spring or autumn of 2024
- Face-to-face implementation in Finnish in the fall of 2024
- Face-to-face implementation in English in the fall of 2024

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 10h
- guidance session approximately 7h
- exams approximately 4h
- independent studying approximately 60h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2023 - 24.08.2023

Timing

28.08.2023 - 19.12.2023

Number of ECTS credits allocated

3 op

Virtual portion

3 op

Mode of delivery

Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 15

Degree programmes
  • Bachelor's Degree Programme in Logistics
  • Bachelor's Degree Programme in Construction Management
Teachers
  • Antti Kosonen
Groups
  • UTIVERKKO
    Institute of New Industry, online learning (mechanical, logistics and civil engineering)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 21.8.2023 - 17.12.2023.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

E-learning: Weekly online lessons, exercises and independent work.

Practical training and working life connections

-

Exam dates and retake possibilities

Supervised exams in week 49.

1st resit in the week starting 8 January 2024
2nd resit in the week starting February 5 2024

International connections

-

Alternative completion methods

- Online implementation in Finnish in the fall of 2023 or in the spring of 2024
- Face-to-face implementation in Finnish in the fall of 2023
- Face-to-face implementation in English in the fall of 2023

Student workload

3cr = 3*27h = 81h, of which...
- guidance session approximately 7h
- exams approximately 4h
- independent studying approximately 70h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2023 - 24.08.2023

Timing

28.08.2023 - 19.12.2023

Number of ECTS credits allocated

3 op

Virtual portion

2 op

Mode of delivery

34 % Face-to-face, 66 % Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 35

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Groups
  • TLS22SMM
    Logistiikka - tutkinto-ohjelma (AMK)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 21.8.2023 - 17.12.2023.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus.
E-learning: Weekly online lessons, exercises and independent work.

Practical training and working life connections

-

Exam dates and retake possibilities

Exams in week 49.

1st resit in the week starting 8 January 2024
2nd resit in the week starting February 5 2024

International connections

-

Alternative completion methods

- Online implementation in Finnish in the fall of 2023 or in the spring of 2024
- Face-to-face implementation in English in the fall of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 10h
- guidance session approximately 7h
- exams approximately 4h
- independent studying approximately 60h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2023 - 24.08.2023

Timing

28.08.2023 - 19.12.2023

Number of ECTS credits allocated

3 op

Mode of delivery

Face-to-face

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 55

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Scheduling groups
  • TLS22SA (Capacity: 30. Open UAS: 0.)
  • TLS22SB (Capacity: 30. Open UAS: 0.)
Groups
  • TLS22S1
    Logistiikka - tutkinto-ohjelma (AMK)
Small groups
  • TLS22SA
  • TLS22SB

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 28.8.2023 - 5.11.2023.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus, exercises and independent studying.

Practical training and working life connections

-

Exam dates and retake possibilities

The exams will take place at:
- Lessons of the week starting on 30.11.
- First resit 22.11.2023
- Second resit 13.12.2023

International connections

-

Alternative completion methods

- Online implementation in Finnish in the fall of 2023 or in the spring of 2024
- Hybrid implementation in Finnish in the fall of 2023 or the spring of 2024
- Face-to-face implementation in English in the fall of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 24h
- exams approximately 4h
- independent studying approximately 53h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2023 - 24.08.2023

Timing

28.08.2023 - 19.12.2023

Number of ECTS credits allocated

3 op

Mode of delivery

Face-to-face

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • English
Seats

0 - 30

Degree programmes
  • Bachelor's Degree Programme in Purchasing and Logistics Engineering
Teachers
  • Antti Kosonen
Groups
  • TLP22S1
    Bachelor's Degree Programme in Purchasing and Logistics Engineering
  • TLP23VS
    Bachelor's Degree Programme in Purchasing and Logistics Engineering (AMK) vaihto-opiskelu/Exchange studies

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 28.8.2023 - 5.11.2023.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus, exercises and independent studying.

Practical training and working life connections

-

Exam dates and retake possibilities

The exams will take place at:
- Lessons of the week starting on 30.11.
- First resit 22.11.2023
- Second resit 13.12.2023

International connections

-

Alternative completion methods

- Online implementation in Finnish in the fall of 2023 or in the spring of 2024
- Hybrid implementation in Finnish in the fall of 2023 or the spring of 2024
- Face-to-face implementation in Finnish in the fall of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 24h
- exams approximately 4h
- independent studying approximately 53h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.11.2022 - 05.01.2023

Timing

09.01.2023 - 19.05.2023

Number of ECTS credits allocated

3 op

Virtual portion

3 op

Mode of delivery

Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 5

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Teacher in charge

Antti Kosonen

Groups
  • LOGRAKVERKKO
    Logistiikan ja rakentamisen verkko-opetus

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 9.1.2023 - 19.5.2023.

Learning materials and recommended literature

Learning material available in the learning environment.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Online-learning. Exercises and independent studying.

Practical training and working life connections

-

Exam dates and retake possibilities

Possible dates for exam / resit:
- 18.1.2023
- 8.2.2023
- 22.3.2023
- 12.4.2023
- 17.5.2023
- 31.5.2023

International connections

-

Alternative completion methods

- Face-to-face implementation in English in the fall of 2022
- Hybrid implementation in Finnish in the spring of 2023
- Online implementation in Finnish in the spring of 2023

Student workload

Calculatory workload:
27 h/op * 3op = 81 h

Of this approximately
- 32 h of studying the material
- 45 h of exercises
- 4 h for exams

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.11.2022 - 05.01.2023

Timing

09.01.2023 - 31.05.2023

Number of ECTS credits allocated

3 op

Virtual portion

1 op

Mode of delivery

67 % Face-to-face, 33 % Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 40

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Teacher in charge

Antti Kosonen

Groups
  • TLS22KMM
    Logistiikan tutkinto-ohjelma (AMK)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 13.3.2023 - 30.4.2023.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus.
E-learning: Weekly online lessons, exercises and independent work.

Practical training and working life connections

-

Exam dates and retake possibilities

The dates of the exams are:
- On week 17. Exact dates depend on the scheduling of face-to-face lessons.
- 1st resit 17.5.2023
- 2nd resit 31.5.2023

International connections

-

Alternative completion methods

- Online implementation in Finnish in the fall of 2022 or in the spring of 2023
- Face-to-face implementation in English in the fall of 2022

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 10h
- exams approximately 4h
- independent studying approximately 67h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your Grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2022 - 24.10.2022

Timing

31.10.2022 - 18.12.2022

Number of ECTS credits allocated

3 op

Mode of delivery

Face-to-face

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 55

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Teacher in charge

Antti Kosonen

Scheduling groups
  • TLS21SA (Capacity: 35. Open UAS: 0.)
  • TLS21SB (Capacity: 35. Open UAS: 0.)
Groups
  • TLS21S1
    Logistiikan tutkinto-ohjelma (AMK)
Small groups
  • TLS21SA
  • TLS21SB

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 31.10.2022 - 18.12.2022.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus, exercises and independent studying.

Practical training and working life connections

-

Exam dates and retake possibilities

The dates of the exams are:
- Lessons of the week starting on 12.12.
- First resit 18.1.2023
- Second resit 8.2.2023

International connections

-

Alternative completion methods

- Online implementation in Finnish in the fall of 2022 or in the spring of 2023
- Face-to-face implementation in English in the fall of 2022
- Hybrid implementation in Finnish in the spring of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 24h
- exams approximately 4h
- independent studying approximately 53h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your Grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2022 - 24.10.2022

Timing

31.10.2022 - 18.12.2022

Number of ECTS credits allocated

3 op

Mode of delivery

Face-to-face

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • English
Seats

0 - 30

Degree programmes
  • Bachelor's Degree Programme in Purchasing and Logistics Engineering
Teachers
  • Antti Kosonen
Teacher in charge

Antti Kosonen

Groups
  • TLP22VS
    Bachelor's Degree Programme in Purchasing and Logistics Engineering (AMK) vaihto-opiskelu/Exchange studies
  • TLP21S1
    Bachelor's Degree Programme in Purchasing and Logistics Engineering

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 31.10.2022 - 18.12.2022.

Learning materials and recommended literature

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus, exercises and independent studying.

Practical training and working life connections

-

Exam dates and retake possibilities

The dates of the exams are:
- Lessons of the week starting on 12.12.
- First resit 18.1.2023
- Second resit 8.2.2023

International connections

-

Alternative completion methods

No alternative implementations in English.

Alternative implementations in Finnish:
- Online implementation in Finnish in the fall of 2022 or in the spring of 2023
- Face-to-face implementation in Finnish in the fall of 2022
- Hybrid implementation in Finnish in the spring of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 24h
- exams approximately 4h
- independent studying approximately 53h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your Grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.08.2022 - 25.08.2022

Timing

29.08.2022 - 21.12.2022

Number of ECTS credits allocated

3 op

Virtual portion

3 op

Mode of delivery

Online learning

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 20

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Antti Kosonen
Teacher in charge

Antti Kosonen

Groups
  • LOGRAKVERKKO
    Logistiikan ja rakentamisen verkko-opetus

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Time and location

This implementation takes place 29.8.2022 - 21.12.2022.

Learning materials and recommended literature

Learning material available in the learning environment.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Online-learning. Exercises and independent studying.

Practical training and working life connections

-

Exam dates and retake possibilities

Possible dates for exam / resit:
- 9.11.2022
- 30.11.2022
- 14.12.2022
- 18.1.2023
- 8.2.2023

International connections

-

Alternative completion methods

- Face-to-face implementation in English in the fall of 2022
- Hybrid implementation in Finnish in the spring of 2023
- Online implementation in Finnish in the spring of 2023

Student workload

Calculatory workload:
27 h/op * 3op = 81 h

Of this approximately
- 32 h of studying the material
- 45 h of exercises
- 4 h for exams

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information for students

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets

Enrollment

01.11.2021 - 09.01.2022

Timing

07.03.2022 - 10.05.2022

Number of ECTS credits allocated

3 op

Mode of delivery

Face-to-face

Unit

School of Technology

Campus

Main Campus

Teaching languages
  • Finnish
Seats

0 - 45

Degree programmes
  • Bachelor's Degree Programme in Logistics
Teachers
  • Pasi Lehtola
Teacher in charge

Pasi Lehtola

Groups
  • TLS21KMM
    Logistiikan tutkinto-ohjelma (AMK)

Objectives

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Learning materials and recommended literature

Saaranen, P., Kolttola, E. & Pöso, J. (2017) Liike-elämän matematiikka. Edita

Teaching methods

Monimuotototeutus sisältää kontaktiopetusta, itsenäistä opiskelua ennen kontakteja ja niiden jälkeen palautettavia oppimistehtäviä

Alternative completion methods

Korvaava englanninkielinen opintojakso TZLM8300 Business Mathematics

Student workload

Kontaktitunnit noin 15 h
Itsenäinen opiskelu noin 30 h
Harjoitustehtävät noin 30 h
Kokeeseen valmistautuminen noin 5 h

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Evaluation criteria, good (3-4)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Evaluation criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Prerequisites

Basic use of spreadsheets