Curricula

Objectives

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

Simple statistical methods
Percentage calculations
Calculation of VAT
Simple interest calculation
Compound interest
Indexes
Inflation and deflation
Exchange rate invoices

Learning materials and recommended literature

Saaranen, P., Kolttola, E., & Pösö, J. (2022). Liike-elämän matematiikka (13th edition). Edita.

Teaching methods

In this course we utilize the following:

Teaching methods: traditional lecture (the lecturer explains the concepts in class), demonstration (the lecturer gives concrete examples and shows how to solve the problem), and collaborative learning (after lecture, students are given tasks to complete and are encouraged to work together in the classroom to solve problems)

Learning methods: visual learning (lecture slides are shown and made available to students), auditory learning (lecture, discussion), interactive learning (exercises, quizzes), peer teaching (students share their methods of learning with their peers and work together) and problem solving learning (solving mathematical problems).

Tasks are completed in Moodle. Students may use Excel (lecturer will demonstrate), paper and pen, or calculator. Assignments must be completed but points are not calculated into the final grade.

Exam dates and retake possibilities

The exam is taken online in the classroom under teacher supervision. Taking the exam at home is not permitted. The exam is taken at the end of the semester during scheduled class time. Resits are arranged according to Jamk degree regulations and are held during scheduled class times.

If the student is not satisfied with their passing grade, they have one possibility to try and improve the grade by retaking the exam. This exam is also taken online in the classroom under teacher supervision during scheduled class time and should be completed before the end of the current semester.

Student workload

This course is a combination of lecture, in class activities, homework and an exam. We cover one subject per lecture and then practice the skill in class together. We use a combination of excel, calculators and paper and pen. Each lecture is 1.5 hours and takes place once a week. Quizzes are available in Moodle for each subject so students may practice their skills outside of the classroom. There is also a practice exam available to allow students to hone their skills before the actual exam.

Given that the lecture sessions are once a week for 1.5 hours, the student should plan to spend additional time outside of class on homework, reviewing lecture notes, and practicing skills. Plan to dedicate additional time for exam preparation as the exam dates approach. Utilize the practice exam available to hone skills and identify areas needing further review.

Content scheduling

We cover one subject per lecture. The list of subjects and their timing is in Moodle. The exam takes place during scheduled class times.

Further information for students

The course is completed using exercises, lecture materials and an exam. The compulsory assignments and the exam must be successfully completed.

Final grade is 0-5 where 0 is fail and 5 is excellent.
Exam: Student must successfully answer 50% of the questions to pass.
Compulsory tasks: All compulsory tasks must be completed.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Sufficient 1
After completing the course, you know the principal concepts of business mathematics. 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 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.

Evaluation criteria, good (3-4)

Good 3
After completing the course, you understand the principal concepts of business mathematics and the dependencies between them. 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 are able to develop the company’s business by utilising the calculation methods of business mathematics.

Evaluation criteria, excellent (5)

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