Business Mathematics (3 cr)

Evaluation scale

0-5

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

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

Location and time

Online implementation

Materials

Kolttola Eliisa, Pösö Jarmo & Saaranen Pirjo 2022. Liike-elämän matematiikka. Edita ISSN/ISBN:978-951-37-8620-5
Karjalainen Leila 2010. Tilastotieteen perusteet. Pii-kirjat ISBN 978-952-9776-33-7

Teaching methods

The course consists of independently watched teaching recordings, guided webinars, calculation exercises and an exam. After the introductory webinar, the webinars are guidance webinars, where you will get help with the exercises of the topics. The lecture recordings are used to study a new topic and to do example calculations related to the new topic. The calculation exercises can be done independently or with other students.

Exam schedules

Exam in Moodle at the end of the course

Completion alternatives

Approval (replacement and inclusion)
Recognition and validation of competences acquired through other means

Student workload

Lecture recordings and webinars 20h
Calculation of exercises and preparation for the exam 59h
Exam 2h

Assessment criteria, satisfactory (1)

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.

Assessment criteria, good (3)

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.

Assessment 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.

Further information

Assessment 100% on the basis of the exam