• Business Mathematics (TZLM8300-3012),
         28.08.2023 – 19.12.2023,  3 cr  (TLP22S1, ...) — Face-to-face +-
    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

    English

    Location and time

    This implementation takes place 28.8.2023 - 5.11.2023.

    Planned learning activities, teaching methods and guidance

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

    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.

    Lecturer(s)

    Antti Kosonen

    Working life cooperation

    -

    Campus

    Main Campus

    Exam dates and re-exam 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

    Internationality

    -

    Timing

    28.08.2023 - 19.12.2023

    Learning assignments and student workload

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

    Enrollment

    01.08.2023 - 24.08.2023

    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:
    - indices and inflation
    - simple interest
    - compound interest
    - periodic payments
    - financial calculations
    - investment profitability calculations
    - comparison of investment alternatives
    - profit margin calculations

    Groups
    • TLP22S1
    • TLP23VS
    Alternative learning 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

    Seats

    0 - 30

    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 Purchasing and Logistics Engineering

    Mode of delivery

    Face-to-face

    Credits
    • 3 cr
    Unit

    School of Technology