Study Guide

Objective

The student can
- apply mathematical techiques to the solutions of practical business problems
- understand the roles mathematics play in business operations
- make consumer decisions sound in relation to purchasing and investing
- relate mathematical applications to managerial decisions
- understand and use mathematical notation
 

Content

Contents:
- roles of mathematical tools and skills in business operation
- matematical techniques and tools
- mathematical applications in management

Materials

Business Math for Dummies by Mary Jane Sterling and Benjamin Schultz (can be found as a e-book in the library of Turku UAS)
Uploaded material on Its
Own information search
Other materials

Teaching methods

task-based methods based on the application of acquired knowledge and skills
lectures
tasks
video tutorials

International connections

learning by doing
flipped learning

Student workload

Total amount of students own work approx. 140 h.

Distribution (estimate):
lectures + preparation 35 h
video tutorials 5 h
tasks 40 h
final assignment 20 h
other individual work 40 h

Content scheduling

Percentages
Profit margin calculations
Calculations of interest and compound of interest
Financial statements
Assessment of the profitability of investments
Using Excel for calculations and data analysis and visualization

Further information

Please contact the teacher primarily by email.

Each participant must have their own computer and Microsoft Office Excel on it.

Being present on the lectures affects the grading of the course since the learning checks are done during lectures.

Evaluation scale

H-5

Assessment methods and criteria

Students skills and knowledge will be evaluated with different assignments.

Course grade will be determined based on the assignments:
learning checks 40 %
final assignment 60 %

Assessment criteria, fail (0)

The student does not return the required performance by the deadline, or does not show that they have mastered the skills required for grade 1.

Assessment criteria, satisfactory (1-2)

Grade 1
The student can:
- calculate percentage calculations
- evaluate the profitability of business activities using the profit margin calculation
- calculate simple interest calculations

Assessment criteria, good (3-4)

Grade 3
Student:
- can calculate percentages
- knows how to evaluate the profitability of a business using the profit margin calculation
- can calculate simple interest calculations
- understands the principle of compound interest calculations and knows how to calculate the basic tasks of compound interest calculations
- can calculate basic economic mathematics tasks using Excel

Assessment criteria, excellent (5)

Student:
- can calculate percentages
- knows how to evaluate the profitability of a business using the profit margin calculation
- can calculate simple interest calculations
- understands the principle of compound interest calculations and knows how to apply the compound interest principle, e.g. in evaluating the profitability of investments
- can compare different financing methods
- knows how to use Excel in his calculations and in analyzing, modifying and presenting data

Objective

The student can
- apply mathematical techiques to the solutions of practical business problems
- understand the roles mathematics play in business operations
- make consumer decisions sound in relation to purchasing and investing
- relate mathematical applications to managerial decisions
- understand and use mathematical notation
 

Content

Contents:
- roles of mathematical tools and skills in business operation
- matematical techniques and tools
- mathematical applications in management

Materials

Uploaded material on Its
Own information search
Other materials

Teaching methods

task-based methods based on the application of acquired knowledge and skills
lectures
tasks
video tutorials

International connections

learning by doing
flipped learning

Student workload

Total amount of students own work approx. 140 h.

Distribution (estimate):
lectures + preparation 25 h
video tutorials 5 h
tasks 50 h
final assignment 20 h
other individual work 40 h

Content scheduling

Percentages
Profit margin calculations
Calculations of interest and compound of interest
Financial statements
Assessment of the profitability of investments
Using Excel for calculations and data analysis and visualization

Further information

Please contact the teacher primarily by email.

Each pariticipant must have their own computer and Microsoft Office Excel on it.

Evaluation scale

H-5

Assessment methods and criteria

Students skills and knowledge will be evaluated with different assignments.

Course grade will be determined based on the assginments:
learning checks 40 %
final assignment 60 %

Assessment criteria, fail (0)

The student does not return the required performance by the deadline, or does not show that they have mastered the skills required for grade 1.

Assessment criteria, satisfactory (1-2)

Grade 1
The student can:
- calculate percentage calculations
- evaluate the profitability of business activities using the profit margin calculation
- calculate simple interest calculations

Assessment criteria, good (3-4)

Grade 3
Student:
- can calculate percentages
- knows how to evaluate the profitability of a business using the profit margin calculation
- can calculate simple interest calculations
- understands the principle of compound interest calculations and knows how to calculate the basic tasks of compound interest calculations
- can calculate basic economic mathematics tasks using Excel

Assessment criteria, excellent (5)

Student:
- can calculate percentages
- knows how to evaluate the profitability of a business using the profit margin calculation
- can calculate simple interest calculations
- understands the principle of compound interest calculations and knows how to apply the compound interest principle, e.g. in evaluating the profitability of investments
- can compare different financing methods
- knows how to use Excel in his calculations and in analyzing, modifying and presenting data

Objective

The student can
- apply mathematical techiques to the solutions of practical business problems
- understand the roles mathematics play in business operations
- make consumer decisions sound in relation to purchasing and investing
- relate mathematical applications to managerial decisions
- understand and use mathematical notation
 

Content

Contents:
- roles of mathematical tools and skills in business operation
- matematical techniques and tools
- mathematical applications in management

Materials

Kaliski: Business Mathematics, 3rd edition (eBook), chapters 2 (UNIT 1), 4 (UNIT 2), 8,9 (UNIT 4), 11 and 12 (UNIT 5)
Tutorials and assignments in ItsLearning/ViLLE
Selected chapters in Khan Academy
Excel

Teaching methods

Self studies, tutorials in virtual environment, assignments, study clinics, weekly assignments

International connections

Task-based method emphasizing the application of knowledge and skills.

Student workload

Total 133 hours:
All group meetings (4-5 * 1,5h), Tutorials in ViLLE, Assignments and ItsLearning/ViLLE tests, self study

Content scheduling

- Percentages and Taxation
- Sequences and Interest
- Investments
- Business Economy (investment calculations, VAT, Pricing, Cost Accounting, Contribution Margin, Profit)
- Value of the Money
- Excel

Evaluation scale

H-5

Assessment methods and criteria

ItsLearning/ViLLE tests (5 tests) and Excel assignments

Assessment criteria, fail (0)

Tests in ItsLearning/ViLLE (5 tests in total) not done with good enough level (40 % correct). Excel assignment(s) not returned.

Assessment criteria, satisfactory (1-2)

1: Pass grade can be achieved passing ItsLearning/ViLLE tests (40 % correct) and returning Excel assignment(s).

Assessment criteria, good (3-4)

3: Grade can be achieved with ItsLearning/ViLLE tests (about 60 % correct) and returning well done Excel assignment(s).

Assessment criteria, excellent (5)

Grade can be achieved with ItsLearning/ViLLE tests (about 90 % correct) and returning correctly done Excel assignment(s)