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

Contact teaching begins in week 39.

Materials

This course utilizes the teaching videos found in the Moodle learning environment. The following textbook can be used as support material:
Liike-elämän matematiikka, Saaranen, Pirjo, kirjoittaja ; Kolttola, Eliisa, kirjoittaja, 1953- ; Pösö, Jarmo, kirjoittaja, Edita [2022] 13., uudistettu painos

Teaching methods

In this course, students study by watching instructional videos and doing exercises. Workshops are organised during the course, where it is possible to receive both individual and group guidance.

Exam schedules

The exam will be held online during week 50. Re-exams will be held in weeks 3 and 5.

Student workload

The calculated use of time is as follows:
Workshops 20 h
Independent theory study 25 h
Exercises 35 h
Total 81 h

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

The course is evaluated with a grade of 1-5. The grade is determined by the exam.