Business Mathematics and Statistics (5 cr)

Objective

The student is familiar with basic mathematical concepts and how they are applied to real world business situations. The student is familiar with the most relevant calculations related to finance and investment decisions. The student understands the fundamentals of statistical analysis and how to interpret statistical results. The student is able analyze data and apply appropriate statistical techniques.

Content

- Percentage applications
- Indices and time value of money
- Interest and compound interest calculations with their applications
- Loans and loan comparisons
- Basic concepts of statistical analysis, statistical measurement levels
- Distributions and descriptive statistics
- Basic use of a spreadsheet program’s financial functions and basic features of a statistical software

Location and time

The course is carried out as distance learning and you can complete it completely independently. For personal guidance, the course, according to the schedule, has a virtual classroom online eight times.

Materials

Materials by teacher in Moodle learning environment.

Teaching methods

The course is implemented as a flipped classroom, where students familiarize themselves with the themes of the course independently through lecture recordings and solving problems. We also have eight virtual lessons where you can get personal guidance from the teacher, e.g. tips on how to solve problems. Participating the virtual lessons is not compulsory. However, it may be useful to take part in the first lesson, since more detail about the nature of the subject and course practices will be told there.
The course is conducted in Moodle learning environment, where all course materials and problems are available from the start time. Students may complete the course in their own schedule, but all the necessary completions must be ready no later than the end date of the course.

Employer connections

N/A

Exam schedules

No exam, the course is completed by solving problems during the course implementation.

International connections

N/A

Completion alternatives

N/A

Student workload

Total 135 hours covering independent study and participating the voluntary virtual lessons.

Content scheduling

The students progress in their own schedule.

Further information

There are no pre-knowledge requirements for the course.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.

Assessment criteria, good (3)

The student has achieved the course objectives well, even though the knowledge and skills need improvement on some areas. The student is able to define the course concepts and models and are able to justify the analysis. The student is able to apply his/her knowledge in leisure, study and work situations. The student understands the importance of expertise in the field of business and is able to analyze his/her own expertise.

Assessment criteria, excellent (5)

The student has achieved the objectives of the course with excellent marks. The student masters commendably the course subject area’s concepts and models. The student is able to make justified and fluent analysis and to present concrete development measures. The student is well prepared to apply his/her knowledge in leisure, study and work situations. The student is able to analyze the business sector expertise and the development of his/her own expertise.

Assessment criteria, approved/failed

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.

Assessment methods and criteria

The maximum score for the course is 100 points. Mathematics is worth 60 points, of which at least 30 points are required to pass the course, and statistics 40 points, of which at least 20 points are required to pass the course.
After you have passed both parts, mathematics and statistics points are added together to get your grade (minimum points: 1 = 50p, 2 = 60p, 3 = 70p, 4 = 80p, 5 = 90p). NB: If either score of mathematics or statistics fall below the limits given, you will fail the course with a grade zero regardless of the total points.