• Business Mathematics (TZLM8300-3006),
         09.01.2023 – 31.05.2023,  3 cr  (TLS22KMM) — Face-to-face, Online learning +-
    Learning outcomes of the course
    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.
    Prerequisites and co-requisites
    Basic use of spreadsheets
    Course contents
    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
    Assessment criteria
    Assessment criteria - grade 1 and 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.
    Assessment criteria - grade 3 and 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.
    Assessment criteria - grade 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.
    Language of instruction

    Finnish

    Location and time

    This implementation takes place 13.3.2023 - 30.4.2023.

    Planned learning activities, teaching methods and guidance

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

    Lecturer(s)

    Antti Kosonen

    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.

    Lecturer(s)

    Antti Kosonen

    Working life cooperation

    -

    Campus

    Main Campus

    Exam dates and re-exam 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

    Internationality

    -

    Timing

    09.01.2023 - 31.05.2023

    Learning assignments and student workload

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

    Enrollment

    01.11.2022 - 05.01.2023

    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

    Groups
    • TLS22KMM
    Alternative learning 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

    Seats

    0 - 40

    Assessment methods

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

    Degree Programme

    Bachelor's Degree Programme in Logistics

    Mode of delivery

    Face-to-face, Online learning

    Share of virtual studies

    1 cr

    Credits
    • 3 cr
    Unit

    School of Technology