Business Mathematics (3 cr)

Evaluation scale

0-5

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

Location and time

The course is implemented 25.10. - 10.12.

Teaching methods

Contact lessons and exercises in computer class.

Exam schedules

Final exam during week 49.
Re-exams will take place in early 2022.

Student workload

Contact teaching about 20 hours
Independent study about 20 hours
Assignments about 30 hours
Preparing for exam about 10 hours

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.

Qualifications

Basic use of spreadsheets

Further information

Open AMK: 5 places
Exchange students: