Business Mathematics (4cr)

Evaluation scale

1-5

Objective

A student is able to calculate by index numbers the changes of prices and general economic activity. The student can construct the real changes of wages and prices. He or she can determine interest, principal, interest rate and interest time in various cases. The student has ability to calculate interest calculations in different situations. The student can determine the future value and the present value of periodic payments. He or she is able to calculate the equal payment of an annuity loan. The student can draw up an instalment payment scheme for different loans. The present value method and the annuity principle can be used in investments by the student.

Content

Taxes, index numbers, foreign currencies, simple interest, compound interest, periodic payments, loans and investments

Materials

Material provided by the teacher

Teaching methods

Lectures and workshops

Student workload

The lessons and exercises take about 50 hours and a student's own studies take about 50 - 70 hours.

Assessment criteria, satisfactory (1)

Satisfactory (1 and 2)
The student is able to calculate satisfactorily and knows the basics and basic concepts of financial mathematics.

Assessment criteria, good (3)

Good (3 and 4)
The student is able to calculate well and knows well the basics and basic concepts of financial mathematics. He/she is able to supply the methdods of financial mathematics in different situations.

Assessment criteria, excellent (5)

Excellent (5)
The student is able to calculate and knows the basics and basic concepts of financial mathematics very well. He/she is able to apply the methdods of financial mathematics in different situations very well.

Qualifications

Basic mathematical knowledge and skills in secondary level education.