Business mathematic for service business (5cr)

Objective

The object of the course
The object of the Business Mathematics course is that you will be familiar with the principal concepts and methods related to business mathematics. You are familiar with the mathematical methods used in practical business work duties.

Course competences

Business competence
The student knows the central theories related to this specialisation option. The student possess at least an advanced beginner’s skills in the practical tasks of the specialisation option. The student is able to utilise knowledge-driven leadership to support decision-making.

Learning to learn
The student assesses and develops their competence and learning methods in different learning environments.
The student is able to acquire, critically assess and appropriately apply the national and international knowledge base and practices of their field.

The learning objectives of the course
After completing the course, you know the principal concepts of business mathematics. You are familiar with the calculation methods and statistic functions most frequently used in the business world. You are capable of performing simple practical work duties in business mathematics. You are familiar with the digital environments and tools of business mathematics.

Content

As a reminder (solving equations, rounding, significant figures, direct and inverse proportionality)
Solving written problems
Percentage calculations
Calculating value added tax
Conversion calculations (recipes, dilution calculations, etc.)
Statistics and simple statistical methods
Simple interest calculations
Compound interest
Indexes (inflation and deflation)
Exchange rate calculations

Assessment criteria, satisfactory (1)

Sufficient 1
After completing the course, you know the principal concepts of business mathematics. You are familiar with typical solution methods and are able to present logical thinking. You are familiar with the calculation methods most frequently used in the business world. You are capable of performing simple practical work duties in business mathematics.
Satisfactory 2
After completing the course, you understand the principal concepts of business mathematics. You are familiar with typical solution methods and are able to present logical thinking. You understand the calculation methods most frequently used in the business world. You are capable of performing simple practical work duties in business mathematics. You understand the simple digital environments and tools of business mathematics.

Assessment criteria, good (3)

Good 3
After completing the course, you understand the principal concepts of business mathematics and the dependencies between them. You understand typical solution methods and know how to present solutions logically. You are able to apply the calculation methods used in the business world to practical problems.
Very Good 4
After completing the course, you understand the principal concepts of business mathematics and the dependencies between them. You understand typical solution methods and know how to present solutions logically. You are able to develop the company’s business by utilizing the calculation methods of business mathematics.

Assessment criteria, excellent (5)

Excellent 5
You are able to develop the company’s business by utilizing the calculation methods of business mathematics. You are able to substantiate, compare, explain and interpret the methods you use.