Business Mathematics (5 cr)

Objectives (course unit)

The student will be able to:
• Understand and explain the basic terms and concepts of business mathematics like revenue, margin, markup, simple and compound interest, currency conversions, etc.
• Solve relevant percent and other calculations in an entrepreneurial context
• Use spreadsheet software for financial calculations

Content (course unit)

Which are the main concepts and terms in business mathematics?
How to solve percentage calculations that are essential in financial tasks?
How to calculate currency transformations?
How to use spreadsheet software in solving problems related to corporate finances?

Assessment criteria, satisfactory (1-2) (course unit)

The student has successfully completed the learning assignments. The student is aware of basic concepts and methods in financial mathematics and calculation.

Assessment criteria, good (3-4) (course unit)

The student has successfully completed the learning assignments. The student has a good practical command of basic concepts and methods in financial mathematics and calculation. The student is able to reflect on practical tasks related to the topic and justify his/her choices. The student is able to apply what he/she has learned in practical situations.

Assessment criteria, excellent (5) (course unit)

The student has successfully completed the learning assignments. The student masters the basic concepts and methods in financial mathematics and calculation. The student is able to analyze tasks related to the topic and fully justify his/her choices. The student is able to apply what he/she has learned in practical situations.

Location and time

To be notified.

Exam schedules

Excel exam on Tuesday the 4th of October.
Math exam on Tuesday the 13th of December.

Assessment methods and criteria

The grade will be based on two exams:
1. Excel exam
2. Math exam
The grade will be given based on the student's performance in these two main tasks. Other tasks and assignments during the course must be submitted in order to complete the course.

Assessment scale

0-5

Teaching methods

Practical hands on exercises, lectures, dialogue and independent studying.

Learning materials

Study material will be provided during the classes and the students are encouraged to also find additional material on their own.

Student workload

1 ECTS credit point = 27 hours of student's work. 5 ECTS means ca. 133 hours of work, which will include:
Classes: ca. 42 h
Excel assignments: ca. 47 h
Independent studying (incl. homework / pre-tasks): ca. 44 h

Content scheduling

The course will be organized in two parts: the first half of the course will be mainly focused on using the Excel program and the latter half will focuse mainly on financial mathematics. More detailed timetable will be provided in class.

Completion alternatives

If the student cannot complete the course in the instructed way, they should always contact the teacher before the course.

Practical training and working life cooperation

Practical hands on exercises will be used and the themes will be connected with the practical training (working as a team entrepreneur). Visiting lecturers are invited if possible.

International connections

The course is a part of an international degree program, so the international aspects are always present. The course focuses on understanding the financial mathematics and basic concepts from the Finnish perspective, but the international viewpoints can always be discussed whenever there's need for it.

Assessment criteria - fail (0) (Not in use, Look at the Assessment criteria above)

The student hasn't completed all the required assignments or doesn't know the basic concepts and methods of financial mathematics and financial calculation. The student doesn't know how to use Excel in business-related calculations.

Assessment criteria - satisfactory (1-2) (Not in use, Look at the Assessment criteria above)

The student has successfully completed all the assignments. The student knows the basic concepts and methods in financial mathematics and financial calculation and knows how to use Excel in simple business-related calculations.

Assessment criteria - good (3-4) (Not in use, Look at the Assessment criteria above)

The student has successfully completed all the assignments. The student knows the basic concepts and methods in financial mathematics and financial calculation, and knows how to apply them in business-related situations. The student knows how to use Excel in different business-related calculations. The student is able to reflect on the practical tasks related to the topic and justify their choices.

Assessment criteria - excellent (5) (Not in use, Look at the Assessment criteria above)

The student has successfully completed all the assignments. The student masters the basic concepts and methods in financial mathematics and financial calculation. The student is able to analyze tasks related to the topic and fully justify their choices. The student knows how to use Excel in business-related calculations and understands how to apply their information to be able to create tables and calculations of their own. The student is able to apply what they have learned in practical situations.