Study Guide

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

During spring 2024 there will be an in class implementation of Business Mathematics.

Timing and attendance

The course will start on week 3. Each week will have 2 h lecture and 2 h exercise lession. Lectures are contact teaching at the campus and you must attend 80% of the lectures. Exercise lession are optional.

Learning material and recommended literature

Liike-elämän matematiikka (Saaranen, Kolttola, Pösö)
Most of the material is translated from this book to English.

Exam retakes

There will be two retake exams.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons.

The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Contents

- Percentages
- Taxation
- Contribution margin calculation
- Index numbers
- Simple interest
- Compound interest
- Periodic payments
- Credits and loans

Additional information for students: previous knowledge etc.

Basic algebra, percentage calculations and equations.

Assessment criteria

To pass the course you need to pass the exam (50%) and return 50% of the weekly exercises on time.

Assessment scale

1-5

Failed (0)

The student failed to pass the exam or didn't return enough weekly exercises on time.

Assessment criteria: level 1 (assessment scale 1–5)

50 %

Assessment criteria: level 3 (assessment scale 1–5)

70 %

Assessment criteria: level 5 (assessment scale 1–5)

90 %

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

During autumn 2023 there will be an in class implementation of Business Mathematics.

Timing and attendance

The course will start on week 36. Lectures are optional but highly recommended.

Learning material and recommended literature

Liike-elämän matematiikka (Saaranen, Kolttola, Pösö)
Most of the material is translated from this book to English.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2021.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Contents

- Percentages
- Taxation
- Contribution margin calculation
- Index numbers
- Simple interest
- Compound interest
- Periodic payments
- Credit and loans

Assessment criteria

To pass the course you need to pass the exam (50 %) and return 50 % of the weekly exercises on time.

Assessment scale

1-5

Failed (0)

The student failed to pass the exam or didn't return enough weekly exercises on time.

Assessment criteria: level 1 (assessment scale 1–5)

50 %

Assessment criteria: level 3 (assessment scale 1–5)

70 %

Assessment criteria: level 5 (assessment scale 1–5)

90 %

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

CAMPUS IMPLEMENTATION
This implementation of Business Mathematics is meant for those students who will come to campus. The contact lessons of this implementation will be held mostly at Skinnarila Campus in Lappeenranta. There will be also some shared Teams-sessions during the course with implementation -3011. Studying is done in Moodle-platform. If later during the course, student would like to attend the lessons via Teams, that is also possible. One sub-interleaf should be studied per week in MOODLE, no matter what is the selected implementation.


*************************************
In the beginning of the course
1) INFO: how, when, why, what? An info will be an on-line meeting. Two hours are booked for getting familiar with Moodle.
!!! There will be A COMPULSORY understanding task in Moodle that you must pass this before you can continue your studying at this course. Interleaf: info, sub-interleaf: “compulsory task”. NOTE: If you don't do this compulsory task in time, you can not attend the examination either.


****************************************
Weekly: one sub-interleaf per week in Moodle
Contact-lessons at campus: during typical week there will be lectures (3) and support for exercises (5) i.e. meetings twice a week.
Studying without teacher's help is also possible.

2) Studying in Moodle. At least a DO BEFORE -test shall be done each week before the common sessions. This gives you an estimate, how much studying you need to do during this week.

3) LESSONS: backgrounds of the topic, rules, things to be noted and examples.
Mainly once a week. Attend if you didn’t get full amount of point from the Do before -test, you want to hear things explained or if you want to ask questions.

4) Studying material is provided in Moodle, for example step-by-step examples and materials that are most useful to study in one’s own time.

5) EXERCISES
Exercises are in Moodle
Practicing is more than important if you want to improve your skills in (applied) mathematics. Please do the exercises even if no one will be watching you. Depending on the topic, the exercises are provided in more traditional format with answers and in some case with tips or in H5P-format.
Exercise-support will be offered typically once a week at campus. Attending also the Teams-sessions is possible. That way there would be 4 hours of support for calculating each week.


6) Test your skills
In the end of each Moodle sub-interleaf (i.e. materials for one week) there will be a test. It is wise to check, is the skill-level already adequate or not.

7) EXAM
an on-line examination in Moodle will be offered. Only the answers are given and counted.
A traditional examination will be offered, if there are enough students attending. A student may attend only one examination, not to both.
NOTE: The examination includes 3 crucial questions that a student must handle! The topics are: % of change, VAT-calculation and the logic of simple interest calculation. It may be, that these are tested in Moodle. STUDY! do not just assume that you'll handle these.


RE-EXAMS
There will be two re-examination dates. The implementation type of examination is on-line.
Note: the dates are given beforehand. These dates are also the only possible dates to attend upgrading. One may try to upgrade the grade once and only once.

*****************************

8) The 4th ects will be studied as a GROUP-WORK.
A group of max 4 students will be given a present value investment calculation -task (mainly IB-students) OR if a students attends the Restaurant functions -course during autumn 2023, she/he may choose a group-work about pricing (mainly HOMA-students). The task will be solved and reported step-by-step. This part includes also compulsory H5P-execrises in Moodle.
If you'll do the group-work in time, it won’t affect the grade, but it must be completed before the credit points will be saved to Peppi. There will be a strict deadline in mid December (see Moodle for DL). It is possible to re-return the work twice. (see Moodle for DL) If the group-work won't be completed in time, that will lower your grade by 2 grades.Students must follow the given instructions.(see Moodle)
Timing: weeks 47– 50, enrollment before that (DL given in Moodle)

Timing and attendance

It will take the whole autumn semester and passing the course requires studying.
Studying materials are in Moodle.
Support for studying is offered at campus + some Teams-sessions related to topics 3 and 4.

Attending the lessons is not compulsory, but studying is.

There will be 4 - 5 main topics during the course. (Interleaves of Moodle)
Each main topic will have 1–4 subtopics. (Sub-interleaves in Moodle).
Typically, one sub-topic will be studied in one week. So, every week there will be a new topic. Therefore, it is highly recommended that student will study continuously during the whole course.
Every main topic starts “from zero”, although some previous techniques may be used (i.e. problem solving in %-calculation and in indices or %-calculation in indices). So, if student must be absent during some topics, he/she may be able to return quite easily when the next main topic starts. The previous main topic must of course be studied then by one’s own time.
The topics will be in Moodle in leaflets and sub-leaflets. These will be opened one by one so that a student who follows the recommended timings, may follow it easily.

NOTE: the leaflets are connected to the compulsory task so you need to do that before you'll see the studying materials.

The order of topics can be read in Peppi and in Moodle.
The timings will be seen in TimeEdit.


Using teacher's support is voluntary.
Attending examination is compulsory. If student misses the examination, no matter the cause, he/she can attend the official re-examinations. No extra examinations will be organized.
The implementation of the 4th credit is a group-work. Timing: weeks 47– 50. Doing the group-work is compulsory.

Learning material and recommended literature

Materials will be given in Moodle.

Additional information and explanations will be told during contact-lessons.

In case student wants to study with help of videos, he/she can find suitable ones from the internet, that may be “full” of ready-made videos. However, it is wise to study the materials provided during the course too.

Alternative completion methods

Handling the topics may only be proven by calculating. Therefore, passing the examination is compulsory and NO individual ways of trying to show the required skills are possible.

Group-work: 1 - 4 members.

Working life cooperation

There are no straight connections to companies, but most of the topics are “from real life”. Business Mathematics -course will mostly concentrate on application (like pricing) and in some cases also related legislation must be handled (like terms of payment and interest rate for late payments).

Exam retakes

There will two re-examinations. Those are on-line versions.

The dates are given beforehand and only those re-examinations are available. The other one will be held in the beginning of the spring semester 2024 and the other one later in the spring semester 2024. Please check the exact dates in Moodle. The enrollment is also in Moodle and the student must enroll to the re-examination by him-/her-self before the DL.

Note: It is more than wise to study properly during the course. Please, do not wait for the re-examination, because the topics won’t get any easier. Studying is required.

The implementation of the 4th ects will be a group work. There will be a strict deadline (see Moodle). If the work is graded as "to be completed", a group will be given another strict deadline. If the work is still not passed, the group will be given a second and last re-returning: For also this, the deadline is strict. Students shall follow the given instructions (naming the work, returning the work, including all the group-members to mailing etc) or the work won't be checked. It is possible to re-return the work twice. If the work won't be passed then, 2 grades are taken out from the grade based on the examination. If the grade is then less than one, a student will re-take the course next year.


Credit points will be written only after both, the examination and the group work is passed.

Learning environment

Moodle - extremely compulsory!
Remember to check the timings and room numbers from TimeEdit.
Teams - few times, but it is also possible to attend both at campus and via Teams, so use all the support that is available

Contact lessons – voluntary, offered to those students who need personal help and/or appreciate group’s support while solving exercises
Studying in Moodle.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 107 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2023.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Contents

Note that the beginning of the course may be very simple to some of the students. Please do NOT assume that the whole course would be like that. Understand that some students may have studied mathematics many, many years ago and they don't remember everything.
!!! Shows the crucial questions, that must be handled by everyone. The course can not be passed without showing that a student knows hos these are calculated.

CONTENTS of the COURSE
1) problem solving:
* thinking as part of problem solving
* equations and proportion:
As a repetition for those student who don't either remember or who haven't studied these well earlier.

2) percentage calculation
2.1) Basic cases, % of change, % of comparison, %-units, coefficient of change and the rules of these.
!!! NOTE: % of change is the other crucial question in the examination. This topic MUST be handled by everyone.
2.2.) VAT
!!! NOTE: VAT is the other crucial question in the examination. This topic MUST be handled by everyone.
2.3.) Contribution margin calculation
This topic is most probably new for every student, so attending Teams-session is recommended to everyone.
2.4.) Pricing
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


3) indices
3.1) Simple index series
Most probably new for many students. This topic includes self studying part.
3.2.) Using ready made indices: inflation, change in the value of money, real change, index clause
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


4) Simple Interest calculation
4.1) the basics of simple interest calculation
4.2.) Interest (€) and shortly the basics of loans
4.2) interest rate (%) and small loans
4.3) Terms of payment: This topic may include a self studying part BEFORE the lessons.
!!! NOTE: Understanding the logic of simple interest calculation is the third crucial question in the examination. This topic MUST be handled by everyone.
These topics are new for every student and the topics require studying.
note: attending Teams-session is HIGHLY recommended to everyone.



GOALS:
To gain knowledge of basic mathematics needed in business.
To get a good routine to calculation.

The desired outcome is that a student who has passed the course with good grade:

* understands that in business mathematics being able to calculate technically well is not enough, but instead understanding terminology and thinking in general is an important part of it
* remembers the wise techniques of solving equations
* knows when and how to use proportion
* understands how equations can be used as a help in the process of solving mathematical problems
* recognizes the different types of percentage calculation and are able to use those properly
* knows by heart how percentage of change should be calculated and understands the reasons for the rules behind it
* knows by heart how the price without value-added-tax is calculated and handles the other types of value-added-tax-calculation too
* handles the basics of contribution margin calculation
* understands how discounts should be taken into account in pricing
* understands what is a simple index series, how it is created, when it can be used and how it is interpreted
* understands how ready-made index-series are used and what is their connection to phenomenons of business
* understands the value of money in sense of relative change and knows how it is calculated
* understands the logic of simple interest calculation and is able to calculate simple interest
* recognizes different outcomes of interest rate and different terms related to it
* understands the concept of real annual interest rate and knows how it is calculated
* knows the terms of payment and the rules and the basic legislation related to it

The contents and the implementation of the 4th credit point will be present value investment calculation (group-work)
or pricing if a students studies also Restaurant functions -course during autumn 2023.

Additional information for students: previous knowledge etc.

No previous courses will be required or offered.

Studying can and should be done during THIS course.

Assessment criteria

In the beginning of the course there is a compulsory task in Moodle. A student must pass this before she/he can see the studying materials in Moodle. Also, this compulsory task is connected to the examination, so attending the examination is not possible, if a student won't complete the compulsory task. The deadline is in appr. 3 weeks from the beginning of the course (see Moodle).

An exam is used to measure students' knowledge (after 3 efct).
Requirements: minimum 50 % of points.

There will be crucial questions in the on-line version. In this case the student can not proceed to the "real" examination if he/she doesn’t handle the most important topics of the course. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.

In traditional version of examination: an approved performance in "crucial" exam question. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.


An on-line examination where only the answers are given and counted will be offered. For on-line examination there will be a "normal" version, where the order of the questions is given and the "free-move version". A student can an access for this by collecting at least 3 activity points during the course. If there are enough students attending, also a traditional examination where the whole solving process is written on paper and will be graded also by its’ parts is possible. Please note that the on-line examination and traditional examination will be different. Especially, an on-line examination will have its advantages but also disadvantages. A student must choose by her/himself which implementation suites better for her/him well before the examination. One may choose and attend only to either on-line or traditional version, NOT to both. Note. A traditional version will be organized only if there will be enough students attending (see Moodle).

The implementation of the 4th ects:
Group work of 1-4 students
Topic: present value investment calculation (IB) or real-life pricing (HOMA-students that will attedn the Restaurant functions -course in autumn 2023 / have studied it earlier)
Grading: Passed / to be completed / failed.
If the grade is 2to be completed or failed still after 2 possible re-returns, this will lowers one's grade by 2 grades.

Assessment scale

1-5

Failed (0)

Student is not able to carry out half of the exam questions and/or student is not able to handle the **crucial questions in the examination.

Most probably the failed result means that student hasn't been studying maybe because of the lack of effort of because trusting too much on his/her earlier skills.

Note: Being able to calculate percentage calculation is not enough.

The group-work is not completed.

Assessment criteria: level 1 (assessment scale 1–5)

Grade 1: Student is able to carry out half of the exam questions. In traditional exam this means that a student can either a) know something about all the topics studied during the course or) know well certain topics, but less about some topics. Student must handle the **crucial questions in the examination.

Student has completed the group-work in given time.
(or the examination result is worth grade 3)

Assessment criteria: level 3 (assessment scale 1–5)

Grade 3: Student has gained 70 %of the maximum points. In traditional exam this means that a student handles either a) all the topics of the course better than on average or b) certain topics completely. Student must handle the **crucial questions in the examination.

Student has completed the group-work in given time (or the examination result is worth grade 5)

Assessment criteria: level 5 (assessment scale 1–5)

Grade 5: Grade 5 requires 90 % of the maximum points.Student handles very well exercises from all the topics studied during the course. Student must handle the **crucial questions in the examination.

Student has completed the group-work in given time.

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

ON-LINE IMPLEMENTATION
This implementation of Business Mathematics is meant for those students who can not attend the contact lessons at campus or who finds it better to study mathematics in one's own peace, without other students around. Studying is done in Moodle-platform and there will be contact lessons via TEAMS. If later dutring the course, student would like to attend the lessons at campus, that is also possible. One sub-interleaf should be studied per week in MOODLE, no matter what is the selected implementation.

NOTE: The NAME of the MOODLE-platform of this course is AL00CE31-3008 (not -3011)
(dfferent implementations are meta-linked and Moodle-platform is shared)



*************************************
In the beginning of the course
1) INFO: how, when, why, what? An info will be an on-line meeting. Two hours are booked for getting familiar with Moodle.
!!! There will be A COMPULSORY understanding task in Moodle that you must pass this before you can continue your studying at this course. Interleaf: info, sub-interleaf: “compulsory task”. NOTE: If you don't do this compulsory task in time, you can not attend the examination either.


****************************************
Weekly: one sub-interleaf per week in Moodle
Contact-lessons in Teams: during typical week there will be lectures (3) and support for exercises (5) i.e. meetings twice a week.
Studying without teacher's help is also possible.

2) Studying in Moodle. At least a DO BEFORE -test shall be done each week before the common sessions. This gives you an estimate, how much studying you need to do during this week.

3) LESSONS: backgrounds of the topic, rules, things to be noted and examples.
Mainly once a week. Attend if you didn’t get full amount of point from the Do before -test, you want to hear things explained or if you want to ask questions.

4) Studying material is provided in Moodle, for example step-by-step examples and materials that are most useful to study in one’s own time.

5) EXERCISES
Exercises are in Moodle
Practicing is more than important if you want to improve your skills in (applied) mathematics. Please do the exercises even if no one will be watching you. Depending on the topic, the exercises are provided in more traditional format with answers and in some case with tips or in H5P-format.
Exercise-support will be offered typically once a week.


6) Test your skills
In the end of each Moodle sub-interleaf (i.e. materials for one week) there will be a test. It is wise to check, is the skill-level already adequate or not.

7) EXAM
an on-line examination in Moodle. Only the answers are given and counted.
If a traditional examination is offered, student from this implementation may also select that one.
NOTE: The examination includes 3 crucial questions that a student must handle! The topics are: % of change, VAT-calculation and the logic of simple interest calculation. STUDY! do not just assume that you'll handle these.


RE-EXAMS
There will be two re-examination dates. The implementation type of examination is on-line.
Note: the dates are given beforehand. These dates are also the only possible dates to attend upgrading. One may try to upgrade the grade once and only once.

*****************************

8) The 4th ects will be studied as a GROUP-WORK.
A group of max 4 students will be given a present value investment calculation -task. (IF a students attends the Restaurant functions -course during autumn 2023, she/he may choose a group-work about pricing.) The task will be solved and reported step-by-step. This part includes also compulsory H5P-execrises in Moodle.
If you'll do the group-work in time, it won’t affect the grade, but it must be completed before the credit points will be saved to Peppi. There will be a strict deadline in mid December (see Moodle for DL). It is possible to re-return the work twice. (see Moodle for DL) If the group-work won't be completed in time, that will lower your grade by 2 grades.Students must follow the given instructions.(see Moodle)
Timing: weeks 47– 50, enrollment before that (DL given in Moodle)

Timing and attendance

This course is an on-line course. It will take the whole autumn semester and passing the course requires studying.
Studying materials are in Moodle.
Support for studying is offered via Teams-sessions .


There will be 4 - 5 main topics during the course. (Interleaves of Moodle)
Each main topic will have 1–4 subtopics. (Sub-interleaves in Moodle).
Typically, one sub-topic will be studied in one week. Soc, every week there will be a new topic. Therefore, it is highly recommended that student will study continuously during the whole course.
Every main topic starts “from zero”, although some previous techniques may be used (i.e. problem solving in %-calculation and in indices or %-calculation in indices). So, if student must be absent during some topics, he/she may be able to return quite easily when the next main topic starts. The previous main topic must of course be studied then by one’s own time.
The topics will be in Moodle in leaflets and sub-leaflets. These will be opened one by one so that a student who follows the recommended timings, may follow it easily.

NOTE: the leaflets are connected to the compulsory task so you need to do that before you'll see the studying materials.

The order of topics can be read in Peppi and in Moodle.
The timings will be seen in TimeEdit.


Using teacher's support is voluntary.
Attending examination is compulsory. If student misses the examination, no matter the cause, he/she can attend the official re-examinations. No extra examinations will be organized.
The implementation of the 4th credit is a group-work. Timing: weeks 47– 50. Doing the group-work is compulsory.

Learning material and recommended literature

Materials will be given in Moodle.

Additional information and explanations will be told during contact-lessons.

In case student wants to study with help of videos, he/she can find suitable ones from the internet, that may be “full” of ready-made videos. However, it is wise to study the materials provided during the course too.

Alternative completion methods

Handling the topics may only be proven by calculating. Therefore, passing the examination is compulsory and NO individual ways of trying to show the required skills are possible.

Group-work: 1 - 4 members.

Working life cooperation

There are no straight connections to companies, but most of the topics are “from real life”. Business Mathematics -course will mostly concentrate on application (like pricing) and in some cases also related legislation must be handled (like terms of payment and interest rate for late payments).

Exam retakes

There will two re-examinations. Those are on-line versions.

The dates are given beforehand and only those re-examinations are available. The other one will be held in the beginning of the spring semester 2024 and the other one later in the spring semester 2024. Please check the exact dates in Moodle. The enrollment is also in Moodle and the student must enroll to the re-examination by him-/her-self before the DL.

Note: It is more than wise to study properly during the course. Please, do not wait for the re-examination, because the topics won’t get any easier. Studying is required.

The implementation of the 4th ects will be a group work. There will be a strict deadline (see Moodle). If the work is graded as "to be completed", a group will be given another strict deadline. If the work is still not passed, the group will be given a second and last re-returning: For also this, the deadline is strict. Students shall follow the given instructions (naming the work, returning the work, including all the group-members to mailing etc) or the work won't be checked. It is possible to re-return the work twice. If the work won't be passed then, 2 grades are taken out from the grade based on the examination. If the grade is then less than one, a student will re-take the course next year.


Credit points will be written only after both, the examination and the group work is passed.

Learning environment

Moodle - extremely compulsory!
Teams - More than recommended
Remember to check the timings from TimeEdit.

Contact lessons – voluntary, offered to those students who need personal help and/or appreciate group’s support while solving exercises
Studying in Moodle.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 107 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2023.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Contents

Note that the beginning of the course may be very simple to some of the students. Please do NOT assume that the whole course would be like that. Understand that some students may have studied mathematics many, many years ago and they don't remember everything.
!!! Shows the crucial questions, that must be handled by everyone. The course can not be passed without showing that a student knows hos these are calculated.

CONTENTS of the COURSE
1) problem solving:
* thinking as part of problem solving
* equations and proportion:
As a repetition for those student who don't either remember or who haven't studied these well earlier.

2) percentage calculation
2.1) Basic cases, % of change, % of comparison, %-units, coefficient of change and the rules of these.
!!! NOTE: % of change is the other crucial question in the examination. This topic MUST be handled by everyone.
2.2.) VAT
!!! NOTE: VAT is the other crucial question in the examination. This topic MUST be handled by everyone.
2.3.) Contribution margin calculation
This topic is most probably new for every student, so attending Teams-session is recommended to everyone.
2.4.) Pricing
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


3) indices
3.1) Simple index series
Most probably new for many students. This topic includes self studying part.
3.2.) Using ready made indices: inflation, change in the value of money, real change, index clause
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


4) Simple Interest calculation
4.1) the basics of simple interest calculation
4.2.) Interest (€) and shortly the basics of loans
4.2) interest rate (%) and small loans
4.3) Terms of payment: This topic may include a self studying part BEFORE the lessons.
!!! NOTE: Understanding the logic of simple interest calculation is the third crucial question in the examination. This topic MUST be handled by everyone.
These topics are new for every student and the topics require studying.
note: attending Teams-session is HIGHLY recommended to everyone.



GOALS:
To gain knowledge of basic mathematics needed in business.
To get a good routine to calculation.

The desired outcome is that a student who has passed the course with good grade:

* understands that in business mathematics being able to calculate technically well is not enough, but instead understanding terminology and thinking in general is an important part of it
* remembers the wise techniques of solving equations
* knows when and how to use proportion
* understands how equations can be used as a help in the process of solving mathematical problems
* recognizes the different types of percentage calculation and are able to use those properly
* knows by heart how percentage of change should be calculated and understands the reasons for the rules behind it
* knows by heart how the price without value-added-tax is calculated and handles the other types of value-added-tax-calculation too
* handles the basics of contribution margin calculation
* understands how discounts should be taken into account in pricing
* understands what is a simple index series, how it is created, when it can be used and how it is interpreted
* understands how ready-made index-series are used and what is their connection to phenomenons of business
* understands the value of money in sense of relative change and knows how it is calculated
* understands the logic of simple interest calculation and is able to calculate simple interest
* recognizes different outcomes of interest rate and different terms related to it
* understands the concept of real annual interest rate and knows how it is calculated
* knows the terms of payment and the rules and the basic legislation related to it

The contents and the implementation of the 4th credit point will be present value investment calculation (group-work)
or pricing if a students studies also Restaurant functions -course during autumn 2023.

Additional information for students: previous knowledge etc.

No previous courses will be required or offered.

Studying can and should be done during THIS course.

Assessment criteria

In the beginning of the course there is a compulsory task in Moodle. A student must pass this before she/he can see the studying materials in Moodle. Also, this compulsory task is connected to the examination, so attending the examination is not possible, if a student won't complete the compulsory task. The deadline is in appr. 3 weeks from the beginning of the course (see Moodle).

An exam is used to measure students' knowledge (after 3 efct).
Requirements: minimum 50 % of points.

There will be crucial questions in the on-line version. In this case the student can not proceed to the "real" examination if he/she doesn’t handle the most important topics of the course. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.

In traditional version of examination: an approved performance in "crucial" exam question. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.


An on-line examination where only the answers are given and counted will be offered. For on-line examination there will be a "normal" version, where the order of the questions is given and the "free-move version". A student can an access for this by collecting at least 3 activity points during the course. If there are enough students attending, also a traditional examination where the whole solving process is written on paper and will be graded also by its’ parts is possible. Please note that the on-line examination and traditional examination will be different. Especially, an on-line examination will have its advantages but also disadvantages. A student must choose by her/himself which implementation suites better for her/him well before the examination. One may choose and attend only to either on-line or traditional version, NOT to both. Note. A traditional version will be organized only if there will be enough students attending (see Moodle).

The implementation of the 4th ects:
Group work of 1-4 students
Topic: present value investment calculation
Grading: Passed / to be completed / failed.
If the grade is 2to be completed or failed still after 2 possible re-returns, this will lowers one's grade by 2 grades.

Assessment scale

1-5

Failed (0)

Student is not able to carry out half of the exam questions and/or student is not able to handle the **crucial questions in the examination.

Most probably the failed result means that student hasn't been studying maybe because of the lack of effort of because trusting too much on his/her earlier skills.

Note: Being able to calculate percentage calculation is not enough.

The group-work is not completed.

Assessment criteria: level 1 (assessment scale 1–5)

Grade 1: Student is able to carry out half of the exam questions. In traditional exam this means that a student can either a) know something about all the topics studied during the course or) know well certain topics, but less about some topics. Student must handle the **crucial questions in the examination.

Student has completed the group-work in given time.
(or the examination result is worth grade 3)

Assessment criteria: level 3 (assessment scale 1–5)

Grade 3: Student has gained 70 %of the maximum points. In traditional exam this means that a student handles either a) all the topics of the course better than on average or b) certain topics completely. Student must handle the **crucial questions in the examination.

Student has completed the group-work in given time (or the examination result is worth grade 5)

Assessment criteria: level 5 (assessment scale 1–5)

Grade 5: Grade 5 requires 90 % of the maximum points.Student handles very well exercises from all the topics studied during the course. Student must handle the **crucial questions in the examination.

Student has completed the group-work in given time.

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

During spring 2023 there will be an in class implementation of Business Mathematics.

Timing and attendance

The course will start on week 3. Lectures are optional but highly recommended.

Learning material and recommended literature

Liike-elämän matematiikka (Saaranen, Kolttola, Pösö)
Most of the material is translated from this book to English.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2021.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Assessment scale

1-5

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

During autumn 2022 there will be an in class implementation of Business Mathematics.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2021.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Assessment scale

1-5

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

The main studying in done in Moodle. This is common for all the students.
There are two optional ways to participate contact lessons, or even mixture of those, during the implementation 2022. One may take an advantage of the contact teaching, that will be offered in case the situation of covid-19 pandemic is in control. This will happen mainly twice a week. In the on-line version there will be Teams-meetings mainly once during one main topic. Follow TimeEdit!

One sub-interleaf should be studied per week, no matter what is the selected implementation.

*************************************
In the beginning of the course
1) INFO: how, when, why, what? An info will be an on-line meeting. Two hours are booked for getting familiar with Moodle. Student must be done. There will be A COMPULSORY understanding task in Moodle that you must pass this before you can continue your studying at this course. Interleaf: info, sub-interleaf: “compulsory task”


****************************************
Weekly: one subinterleaf per week.
2) Studying in Moodle. At least a DO BEFORE -test shall be done each week before the common sessions. The better result will be reached if even more studying in Moodle is done.

3) LESSONS: backgrounds of the topic, rules, things to be noted and examples.
These are planned to be offered as contact-teaching, but lessons can be changed to Teams-sessions, if the attendance rates will be low or the students will prefer on-line lessons.
Mainly once a week. Attend if you didn’t get full amount of point from the Do before -test, you want to hear things explained or if you want to ask questions.

4) Studying material is provided in Moodle, for example step-by-step examples and materials that are most useful to study in one’s own time.

5) EXERCISES
Exercises are in Moodle
Practicing is more than important if you want to improve your skills in (applied) mathematics. Please do the exercises even if no one will be watching you. Depending on the topic, the exercises are provided in more traditional format with answers and in some case with tips or in H5P-format.
Support on-line or live
With these contact lessons one can have personal support. To be as useful as possible, it is recommended to familiarize oneself at least to some of the exercises beforehand. Exercise-support will be offered typically once a week. These are planned to be offered as contact-teaching, but exercise-support can be changed to Teams-sessions, if the attendance rates will be low or the students will prefer on-line lessons.


6) Test your skills
In the end of each Moodle sub-interleaf (i.e. materials for one week) there will be a test. It is wise to check, is the skill-level already adequate or not.

end of 3 ects part (above)
7) EXAM
In case the situation of covid-19 pandemic is in control, most probably two optional ways for examination is offered: an on-line examination where only the answers are given and counted, and a traditional version, where the whole solving process is written on paper and will be graded also by its’ parts. One may choose and attend only to either on-line or traditional version, NOT to both.


RE-EXAMS
There will be to re-examination dates. The implementation type of examination (on-line or traditional) will be told later. Note: the dates are given beforehand. These dates are also the only possible dates to attend upgrading. One may try to upgrade the grade once and only once.

*****************************
8) 4th ects
In the beginning of the course it will be decided how the 4th ects will be studied during the implementation 2022.
a) Similar way than the first part of the course. In this case just an extra main topic will be added. There will be an examination about the topic.
b) As group-work of max 4 students. In this option students will be given a present value investment calculation -task. The task will be solved and reported step-by-step. The group-work won’t affect the grade, but it must be completed before the credit points will be saved to Peppi. Timing: weeks 47– 50.

Timing and attendance

There will be 4 - 5 main topics during the course. (Interleaves of Moodle)
Each main topic will have 1–4 subtopics. (Sub-interleaves in Moodle).
Typically, one sub-topic will be studied in one week. Soc, every week there will be a new topic. Therefore, it is highly recommended that student will study continuously during the whole course.
Every main topic starts “from zero”, although some previous techniques may be used (i.e. problem solving in %-calculation and in indices or %-calculation in indices). So, if student must be absent during some topics, he/she may be able to return quite easily when the next main topic starts. The previous main topic must of course be studied then by one’s own time.
The topics will be in Moodle in leaflets and sub-leaflets. These will be opened one by one so that a student who follows the recommended timings, may follow it easily. NOTE: some of the leaflets may have restrictions. This means that a student must first complete some other, previous, part to be able to open the next one.
The order of topics can be read in Peppi and in Moodle.
The timings will be seen in TimeEdit.

Support for studying is offered via Teams-sessions and by contact lessons. Related to most topics, “do before” and/or “test your current skill -level” exercises will be offered. It is meant that every student will do these before the lessons. This gives a student a possibility to see how important it is to attend. If the test won’t give result of 100 %, one’s skills aren’t good enough and attending is highly recommended.

Exercises will be in Moodle. It is wise to try to solve those after the Teams-sessions and before the contact lessons. If there were difficulties, it would still be possible to attend and get some personal help.

Attending examination is compulsory. If student misses the examination, no matter the cause, he/she can attend the official re-examinations. No extra examinations will be organized.

The implementation of the 4th credit will be decided in the beginning of the course (see abowe). Timing: weeks 47– 50.

Learning material and recommended literature

Materials will be given in Moodle.

Additional information and explanations will be told during contact-lessons.

In case student wants to study with help of videos, he/she can find suitable ones from the internet, that may be “full” of ready-made videos. However, it is wise to study the materials provided during the course too.

Alternative completion methods

In case the situation of covid-19 pandemic is in control, most probably two optional ways for examination is offered: on-line and on-line + contact.

Handling the topics may only be proven by calculating. Therefore, passing the examination is compulsory and NO individual ways of trying to show the required skills are possible.

Working life cooperation

There are no straight connections to companies, but most of the topics are “from real life”. Business Mathematics -course will mostly concentrate on application (like pricing) and in some cases also related legislation must be handled (like terms of payment and interest rate for late payments).

Exam retakes

There will be an examination after 3 ects.

In case the situation of covid-19 pandemic is in control, most probably two optional ways for examination is offered: an on-line examination where only the answers are given and counted, and a traditional version, where the whole solving process is written on paper and will be graded also by its’ parts. One may choose and attend only to either on-line or traditional version, NOT to both.

For on-line examination there will be a "normal" version, where the order of the questions is given and the "free-move version". A student can an access for this by collecting at least 3 activity points during the course.

The implementation of the 4th ects will be either an examination or a group work. If the students will select the group-work, it will be graded as: passed / to be completed / failed. The grade of the course will then be based on the 3 ects examination. Credit points will be written only after the group work is passed. Note: whole course will have the same implementation for 4th ects.

There will two re-examinations. The other one will be held in the beginning of the spring semester 2023 and the other one later in the spring semester 2023. Please check the exact dates in Moodle. The enrollment is also in Moodle. It has a deadline.
Note: It is more than wise to study properly during the course. Please, do not wait for the re-examination, because the topics won’t get any easier. Studying is required.

Learning environment

Moodle - extremely compulsory!
Teams - More than recommended
Remember to check the timing from TimeEdit.

Contact lessons – voluntary, offered to those students who need personal help and/or appreciate group’s support while solving exercises
Studying in Moodle.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2022.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Contents

Note that the beginning of the course may be very simple to some of the students. Please do NOT assume that the whole course would be like that. Understand that some students may have studied mathematics many, many years ago and they don't remember everything.

CONTENTS of the COURSE
1) problem solving:
* thinking as part of problem solving
* equations and proportion:
As a repetition for those student who don't either remember or who haven't studied these well earlier.

2) percentage calculation
2.1) Basic cases, % of change, % of comparison, %-units, coefficient of change and the rules of these.
note: % of change is the other crucial question in the examination. This topic MUST be handled by everyone.
2.2.) VAT
note: VAT is the other crucial question in the examination. This topic MUST be handled by everyone.
2.3.) Contribution margin calculation
This topic is most probably new for every student, so attending Teams-session is recommended to everyone.
2.4.) Pricing
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


3) indices
3.1) Simple index series
Most probably new for many students. This topic includes self studying part.
3.2.) Using ready made indices: inflation, change in the value of money, real change, index clause
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


4) Simple Interest calculation
4.1) the basics of simple interest calculation
4.2.) Interest (€) and shortly the basics of loans
4.2) interest rate (%) and small loans
4.3) Terms of payment: This topic may include a self studying part BEFORE the lessons.
note: Understanding the logic of simple interest calculation is the third crucial question in the examination. This topic MUST be handled by everyone.
These topics are new for every student and the topics require studying.
note: attending Teams-session is HIGHLY recommended to everyone.



GOALS:
To gain knowledge of basic mathematics needed in business.
To get a good routine to calculation.

The desired outcome is that a student who has passed the course with good grade:

* understands that in business mathematics being able to calculate technically well is not enough, but instead understanding terminology and thinking in general is an important part of it
* remembers the wise techniques of solving equations
* knows when and how to use proportion
* understands how equations can be used as a help in the process of solving mathematical problems
* recognizes the different types of percentage calculation and are able to use those properly
* knows by heart how percentage of change should be calculated and understands the reasons for the rules behind it
* knows by heart how the price without value-added-tax is calculated and handles the other types of value-added-tax-calculation too
* handles the basics of contribution margin calculation
* understands how discounts should be taken into account in pricing
* understands what is a simple index series, how it is created, when it can be used and how it is interpreted
* understands how ready-made index-series are used and what is their connection to phenomenons of business
* understands the value of money in sense of relative change and knows how it is calculated
* understands the logic of simple interest calculation and is able to calculate simple interest
* recognizes different outcomes of interest rate and different terms related to it
* understands the concept of real annual interest rate and knows how it is calculated
* knows the terms of payment and the rules and the basic legislation related to it

The contents and the implementation of the 4th credit point will be
either: present value investment calculation (group-work)
or: compound interest calculation (traditional way of studying)

Additional information for students: previous knowledge etc.

No previous courses will be required or offered. Studying can and should be done during THIS course.

Assessment criteria

An exam is used to measure students' knowledge (3 efct).
Requirements: minimum 50 % of points.

In traditional version of examination: an approved performance in "crucial" exam question. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.
There may be crucial questions also in the on-line version. In this case the student can not proceed in the examination if he/she doesn’t handle the most important topics of the course. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.
Please note that the on-line examination and traditional examination will be slightly different. Especially, an on-line examination will have its advantages but also disadvantages. A student must choose by her/himself which implementation suites better for her/him well before the examination. Only one implementation may be chosen.

The implementation of the 4th ects is either:
Group work of 1-4 students
Topic: present value investment calculation
Grading: Passed / to be completed / failed.

or
continuing in traditional way. Then the topic will be compound interest calculation and the skills will be measured in examination.

Note: the whole course will have the same implementation

Assessment scale

1-5

Failed (0)

Student is not able to carry out half of the exam questions and/or student is not able to handle the **crucial questions in the examination.

Most probably the failed result means that student hasn't been studying maybe because of the lack of effort of because trusting too much on his/her earlier skills.

Note: Being able to calculate percentage calculation is not enough.

If the group-work implementation will be selected: the group-work is not completed.

Assessment criteria: level 1 (assessment scale 1–5)

Grade1: Student is able to carry out half of the exam questions. In traditional exam this means that a student can either a) know something about all the topics studied during the course or) know well certain topics, but less about some topics. Student must handle the **crucial questions in the examination.

If the group-work implementation will be selected: student has completed the group-work in given time.

Assessment criteria: level 3 (assessment scale 1–5)

Grade3: Student has gained 70 %of the maximum points. In traditional exam this means that a student handles either a) all the topics of the course better than on average or b) certain topics completely. Student must handle the **crucial questions in the examination.

If the group-work implementation will be selected: student has completed the group-work in given time.

Assessment criteria: level 5 (assessment scale 1–5)

Grade5: Grade 5 requires 90 % of the maximum points.Student handles very well exercises from all the topics studied during the course. Student must handle the **crucial questions in the examination.

If the group-work implementation will be selected: student has completed the group-work in given time.

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

The name of the Moodle-platform of this course is
AL00CE31-3005 Business Mathematics 1.9.2022-31.12.2022!
(dfferent implementations are meta-linked.)



This implementation of Business Mathematics is a new one and it is meant for those students who can not attend the contact lessons at campus.
Studying is done in Moodle-platform and there will be contact lessons via Teams.

One sub-interleaf should be studied per week, no matter what is the selected implementation.

*************************************
In the beginning of the course
1) INFO: how, when, why, what? An info will be an on-line meeting. Two hours are booked for getting familiar with Moodle. Student must be done. There will be A COMPULSORY understanding task in Moodle that you must pass this before you can continue your studying at this course. Interleaf: info, sub-interleaf: “compulsory task”


****************************************
Weekly: one sub-interleaf per week in Moodle
Contact-lessons in Teams: the amount of meetings is not yet know on 26.8.2022. This implementation was opened as extra just a while ago, so these will depend on TimeEdit etc. Attend the info on 1.9. and follow Moodle for further information.


7) EXAM
an on-line examination in Moodle. Only the answers are given and counted.


RE-EXAMS
There will be two re-examination dates. The implementation type of examination is on-line.
Note: the dates are given beforehand. These dates are also the only possible dates to attend upgrading. One may try to upgrade the grade once and only once.

*****************************
8) 4th ects
In the beginning of the course it will be decided how the 4th ects will be studied during the implementation 2022.
a) Similar way than the first part of the course. In this case just an extra main topic will be added. There will be an examination about the topic.
b) As group-work of max 4 students. In this option students will be given a present value investment calculation -task. The task will be solved and reported step-by-step. The group-work won’t affect the grade, but it must be completed before the credit points will be saved to Peppi. Timing: weeks 47– 50.

Timing and attendance

There will be 4 - 5 main topics during the course. (Interleaves of Moodle)
Each main topic will have 1–4 subtopics. (Sub-interleaves in Moodle).
Typically, one sub-topic will be studied in one week. Soc, every week there will be a new topic. Therefore, it is highly recommended that student will study continuously during the whole course.
Every main topic starts “from zero”, although some previous techniques may be used (i.e. problem solving in %-calculation and in indices or %-calculation in indices). So, if student must be absent during some topics, he/she may be able to return quite easily when the next main topic starts. The previous main topic must of course be studied then by one’s own time.
The topics will be in Moodle in leaflets and sub-leaflets. These will be opened one by one so that a student who follows the recommended timings, may follow it easily. NOTE: some of the leaflets may have restrictions. This means that a student must first complete some other, previous, part to be able to open the next one.
The order of topics can be read in Peppi and in Moodle.
The timings will be seen in TimeEdit.

Support for studying is offered via Teams-sessions .


Attending examination is compulsory. If student misses the examination, no matter the cause, he/she can attend the official re-examinations. No extra examinations will be organized.

The implementation of the 4th credit will be decided in the beginning of the course (see abowe). Timing: weeks 47– 50.

Learning material and recommended literature

Materials will be given in Moodle.

Additional information and explanations will be told during contact-lessons.

In case student wants to study with help of videos, he/she can find suitable ones from the internet, that may be “full” of ready-made videos. However, it is wise to study the materials provided during the course too.

Alternative completion methods

In case the situation of covid-19 pandemic is in control, most probably two optional ways for examination is offered: on-line and on-line + contact.

Handling the topics may only be proven by calculating. Therefore, passing the examination is compulsory and NO individual ways of trying to show the required skills are possible.

Working life cooperation

There are no straight connections to companies, but most of the topics are “from real life”. Business Mathematics -course will mostly concentrate on application (like pricing) and in some cases also related legislation must be handled (like terms of payment and interest rate for late payments).

Exam retakes

There will be an examination after 3 ects.

In case the situation of covid-19 pandemic is in control, most probably two optional ways for examination is offered: an on-line examination where only the answers are given and counted, and a traditional version, where the whole solving process is written on paper and will be graded also by its’ parts. One may choose and attend only to either on-line or traditional version, NOT to both.

For on-line examination there will be a "normal" version, where the order of the questions is given and the "free-move version". A student can an access for this by collecting at least 3 activity points during the course.

The implementation of the 4th ects will be either an examination or a group work. If the students will select the group-work, it will be graded as: passed / to be completed / failed. The grade of the course will then be based on the 3 ects examination. Credit points will be written only after the group work is passed. Note: whole course will have the same implementation for 4th ects.

There will two re-examinations. The other one will be held in the beginning of the spring semester 2023 and the other one later in the spring semester 2023. Please check the exact dates in Moodle. The enrollment is also in Moodle. It has a deadline.
Note: It is more than wise to study properly during the course. Please, do not wait for the re-examination, because the topics won’t get any easier. Studying is required.

Learning environment

Moodle - extremely compulsory!
Teams - More than recommended
Remember to check the timing from TimeEdit.

Contact lessons – voluntary, offered to those students who need personal help and/or appreciate group’s support while solving exercises
Studying in Moodle.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2022.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Contents

Note that the beginning of the course may be very simple to some of the students. Please do NOT assume that the whole course would be like that. Understand that some students may have studied mathematics many, many years ago and they don't remember everything.

CONTENTS of the COURSE
1) problem solving:
* thinking as part of problem solving
* equations and proportion:
As a repetition for those student who don't either remember or who haven't studied these well earlier.

2) percentage calculation
2.1) Basic cases, % of change, % of comparison, %-units, coefficient of change and the rules of these.
note: % of change is the other crucial question in the examination. This topic MUST be handled by everyone.
2.2.) VAT
note: VAT is the other crucial question in the examination. This topic MUST be handled by everyone.
2.3.) Contribution margin calculation
This topic is most probably new for every student, so attending Teams-session is recommended to everyone.
2.4.) Pricing
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


3) indices
3.1) Simple index series
Most probably new for many students. This topic includes self studying part.
3.2.) Using ready made indices: inflation, change in the value of money, real change, index clause
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


4) Simple Interest calculation
4.1) the basics of simple interest calculation
4.2.) Interest (€) and shortly the basics of loans
4.2) interest rate (%) and small loans
4.3) Terms of payment: This topic may include a self studying part BEFORE the lessons.
note: Understanding the logic of simple interest calculation is the third crucial question in the examination. This topic MUST be handled by everyone.
These topics are new for every student and the topics require studying.
note: attending Teams-session is HIGHLY recommended to everyone.



GOALS:
To gain knowledge of basic mathematics needed in business.
To get a good routine to calculation.

The desired outcome is that a student who has passed the course with good grade:

* understands that in business mathematics being able to calculate technically well is not enough, but instead understanding terminology and thinking in general is an important part of it
* remembers the wise techniques of solving equations
* knows when and how to use proportion
* understands how equations can be used as a help in the process of solving mathematical problems
* recognizes the different types of percentage calculation and are able to use those properly
* knows by heart how percentage of change should be calculated and understands the reasons for the rules behind it
* knows by heart how the price without value-added-tax is calculated and handles the other types of value-added-tax-calculation too
* handles the basics of contribution margin calculation
* understands how discounts should be taken into account in pricing
* understands what is a simple index series, how it is created, when it can be used and how it is interpreted
* understands how ready-made index-series are used and what is their connection to phenomenons of business
* understands the value of money in sense of relative change and knows how it is calculated
* understands the logic of simple interest calculation and is able to calculate simple interest
* recognizes different outcomes of interest rate and different terms related to it
* understands the concept of real annual interest rate and knows how it is calculated
* knows the terms of payment and the rules and the basic legislation related to it

The contents and the implementation of the 4th credit point will be
either: present value investment calculation (group-work)
or: compound interest calculation (traditional way of studying)

Additional information for students: previous knowledge etc.

No previous courses will be required or offered. Studying can and should be done during THIS course.

Assessment criteria

An exam is used to measure students' knowledge (3 efct).
Requirements: minimum 50 % of points.

In traditional version of examination: an approved performance in "crucial" exam question. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.
There may be crucial questions also in the on-line version. In this case the student can not proceed in the examination if he/she doesn’t handle the most important topics of the course. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.
Please note that the on-line examination and traditional examination will be slightly different. Especially, an on-line examination will have its advantages but also disadvantages. A student must choose by her/himself which implementation suites better for her/him well before the examination. Only one implementation may be chosen.

The implementation of the 4th ects is either:
Group work of 1-4 students
Topic: present value investment calculation
Grading: Passed / to be completed / failed.

or
continuing in traditional way. Then the topic will be compound interest calculation and the skills will be measured in examination.

Note: the whole course will have the same implementation

Assessment scale

1-5

Failed (0)

Student is not able to carry out half of the exam questions and/or student is not able to handle the **crucial questions in the examination.

Most probably the failed result means that student hasn't been studying maybe because of the lack of effort of because trusting too much on his/her earlier skills.

Note: Being able to calculate percentage calculation is not enough.

If the group-work implementation will be selected: the group-work is not completed.

Assessment criteria: level 1 (assessment scale 1–5)

Grade1: Student is able to carry out half of the exam questions. In traditional exam this means that a student can either a) know something about all the topics studied during the course or) know well certain topics, but less about some topics. Student must handle the **crucial questions in the examination.

If the group-work implementation will be selected: student has completed the group-work in given time.

Assessment criteria: level 3 (assessment scale 1–5)

Grade3: Student has gained 70 %of the maximum points. In traditional exam this means that a student handles either a) all the topics of the course better than on average or b) certain topics completely. Student must handle the **crucial questions in the examination.

If the group-work implementation will be selected: student has completed the group-work in given time.

Assessment criteria: level 5 (assessment scale 1–5)

Grade5: Grade 5 requires 90 % of the maximum points.Student handles very well exercises from all the topics studied during the course. Student must handle the **crucial questions in the examination.

If the group-work implementation will be selected: student has completed the group-work in given time.

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

The name of the Moodle-platform of this course is
AL00CE31-3005 Business Mathematics 1.9.2022-31.12.2022!
(different implementations are meta-linked.)


The main studying in done in Moodle. This is common for all the students.
There are two optional ways to participate contact lessons, or even mixture of those, during the implementation 2022. One may take an advantage of the contact teaching, that will be offered in case the situation of covid-19 pandemic is in control. This will happen mainly twice a week. In the on-line version there will be Teams-meetings mainly once during one main topic. Follow TimeEdit!

One sub-interleaf should be studied per week, no matter what is the selected implementation.

Note: 3 ects will be studied in "traditional way" and the 4th ects will be studied as a group-work. The 3 ects will be studied together with IB-students.

*************************************
In the beginning of the course
1) INFO: how, when, why, what? An info will be an on-line meeting. Two hours are booked for getting familiar with Moodle. Student must be done. There will be A COMPULSORY understanding task in Moodle that you must pass this before you can continue your studying at this course. Interleaf: info, sub-interleaf: “compulsory task”


****************************************
Weekly: one subinterleaf per week.
2) Studying in Moodle. At least a DO BEFORE -test shall be done each week before the common sessions. The better result will be reached if even more studying in Moodle is done.

3) LESSONS: backgrounds of the topic, rules, things to be noted and examples.
These are planned to be offered as contact-teaching, but lessons can be changed to Teams-sessions, if the attendance rates will be low or the students will prefer on-line lessons.
Mainly once a week. Attend if you didn’t get full amount of point from the Do before -test, you want to hear things explained or if you want to ask questions.

4) Studying material is provided in Moodle, for example step-by-step examples and materials that are most useful to study in one’s own time.

5) EXERCISES
Exercises are in Moodle
Practicing is more than important if you want to improve your skills in (applied) mathematics. Please do the exercises even if no one will be watching you. Depending on the topic, the exercises are provided in more traditional format with answers and in some case with tips or in H5P-format.
Support on-line or live
With these contact lessons one can have personal support. To be as useful as possible, it is recommended to familiarize oneself at least to some of the exercises beforehand. Exercise-support will be offered typically once a week. These are planned to be offered as contact-teaching, but exercise-support can be changed to Teams-sessions, if the attendance rates will be low or the students will prefer on-line lessons.


6) Test your skills
In the end of each Moodle sub-interleaf (i.e. materials for one week) there will be a test. It is wise to check, is the skill-level already adequate or not.

end of 3 ects part (above)
7) EXAM
In case the situation of covid-19 pandemic is in control, most probably two optional ways for examination is offered: an on-line examination where only the answers are given and counted, and a traditional version, where the whole solving process is written on paper and will be graded also by its’ parts. One may choose and attend only to either on-line or traditional version, NOT to both.


RE-EXAMS
There will be to re-examination dates. The implementation type of examination (on-line or traditional) will be told later. Note: the dates are given beforehand. These dates are also the only possible dates to attend upgrading. One may try to upgrade the grade once and only once.

*****************************
8) 4th ects will be studies as group-work of max 4 students. Students will go through the contribution margin pricing process of a given, real-life menu of Gastro Bar Saimaa. The group-work requires that the student participates the Restaurant functions course taught by Ann-Mari Karvinen and Jukka Moilanen. The task will be solved and reported step-by-step. The group-work won’t affect the grade, but it must be completed before the credit points will be saved to Peppi. Timing: weeks 47– 50.

In case a student won’t participate the Restaurant functions course, he/she shall study the 4th ects with IB-students (AL00CE31-51).

Timing and attendance

There will be 4 main topics during the course. (Interleaves of Moodle)
Each main topic will have 1–4 subtopics. (Sub-interleaves in Moodle).
Typically, one sub-topic will be studied in one week. Soc, every week there will be a new topic. Therefore, it is highly recommended that student will study continuously during the whole course.
Every main topic starts “from zero”, although some previous techniques may be used (i.e. problem solving in %-calculation and in indices or %-calculation in indices). So, if student must be absent during some topics, he/she may be able to return quite easily when the next main topic starts. The previous main topic must of course be studied then by one’s own time.
The topics will be in Moodle in leaflets and sub-leaflets. These will be opened one by one so that a student who follows the recommended timings, may follow it easily. NOTE: some of the leaflets may have restrictions. This means that a student must first complete some other, previous, part to be able to open the next one.
The order of topics can be read in Peppi and in Moodle.
The timings will be seen in TimeEdit.

Support for studying is offered via Teams-sessions and by contact lessons. Related to most topics, “do before” and/or “test your current skill -level” exercises will be offered. It is meant that every student will do these before the lessons. This gives a student a possibility to see how important it is to attend. If the test won’t give result of 100 %, one’s skills aren’t good enough and attending is highly recommended.

Exercises will be in Moodle. It is wise to try to solve those after the Teams-sessions and before the contact lessons. If there were difficulties, it would still be possible to attend and get some personal help.

Attending examination is compulsory. If student misses the examination, no matter the cause, he/she can attend the official re-examinations. No extra examinations will be organized.

The implementation of the 4th credit is group-work. The timing for the group-work is weeks 47– 50.

Learning material and recommended literature

Materials will be given in Moodle.

Additional information and explanations will be told during contact-lessons.

In case student wants to study with help of videos, he/she can find suitable ones from the internet, that may be “full” of ready-made videos. However, it is wise to study the materials provided during the course too.

Alternative completion methods

In case the situation of covid-19 pandemic is in control, most probably two optional ways for examination is offered: on-line and on-line + contact.

Handling the topics may only be proven by calculating. Therefore, passing the examination is compulsory and NO individual ways of trying to show the required skills are possible.

Working life cooperation

Most of the topics are “from real life”. Business Mathematics -course will mostly concentrate on application (like pricing) and in some cases also related legislation must be handled (like terms of payment and interest rate for late payments).

The group-work is connected to Gastro Bar Saimaa.

Exam retakes

There will be an examination after 3 ects.

In case the situation of covid-19 pandemic is in control, most probably two optional ways for examination is offered: an on-line examination where only the answers are given and counted, and a traditional version, where the whole solving process is written on paper and will be graded also by its’ parts. One may choose and attend only to either on-line or traditional version, NOT to both.

For on-line examination there will be a "normal" version, where the order of the questions is given and the "free-move version". A student can an access for this by collecting at least 3 activity points during the course.

The implementation of the 4th ects will be a group work. It will be graded as: passed / to be completed / failed. The grade of the course will then be based on the 3 ects examination. Credit points will be written only after the group work is passed.

There will two re-examinations. The other one will be held in the beginning of the spring semester 2023 and the other one later in the spring semester 2023. Please check the exact dates in Moodle. The enrollment is also in Moodle. It has a deadline.
Note: It is more than wise to study properly during the course. Please, do not wait for the re-examination, because the topics won’t get any easier. Studying is required.

Learning environment

Moodle - extremely compulsory!
Teams - More than recommended
Remember to check the timing from TimeEdit.

Contact lessons – voluntary, offered to those students who need personal help and/or appreciate group’s support while solving exercises
Studying in Moodle.

+ Restarant Functions -course

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2022.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Contents

Note that the beginning of the course may be very simple to some of the students. Please do NOT assume that the whole course would be like that. Understand that some students may have studied mathematics many, many years ago and they don't remember everything.

CONTENTS of the COURSE
1) problem solving:
* thinking as part of problem solving
* equations and proportion:
As a repetition for those student who don't either remember or who haven't studied these well earlier.

2) percentage calculation
2.1) Basic cases, % of change, % of comparison, %-units, coefficient of change and the rules of these.
note: % of change is the other crucial question in the examination. This topic MUST be handled by everyone.
2.2.) VAT
note: VAT is the other crucial question in the examination. This topic MUST be handled by everyone.
2.3.) Contribution margin calculation
This topic is most probably new for every student, so attending Teams-session is recommended to everyone.
2.4.) Pricing
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


3) indices
3.1) Simple index series
Most probably new for many students. This topic includes self studying part.
3.2.) Using ready made indices: inflation, change in the value of money, real change, index clause
This topic is new for every student and the topic requires studying.
note: attending Teams-session is HIGHLY recommended to everyone.


4) Simple Interest calculation
4.1) the basics of simple interest calculation
4.2.) Interest (€) and shortly the basics of loans
4.2) interest rate (%) and small loans
4.3) Terms of payment: This topic may include a self studying part BEFORE the lessons.
note: Understanding the logic of simple interest calculation is the third crucial question in the examination. This topic MUST be handled by everyone.
These topics are new for every student and the topics require studying.
note: attending Teams-session is HIGHLY recommended to everyone.



GOALS:
To gain knowledge of basic mathematics needed in business.
To get a good routine to calculation.

The desired outcome is that a student who has passed the course with good grade:

* understands that in business mathematics being able to calculate technically well is not enough, but instead understanding terminology and thinking in general is an important part of it
* remembers the wise techniques of solving equations
* knows when and how to use proportion
* understands how equations can be used as a help in the process of solving mathematical problems
* recognizes the different types of percentage calculation and are able to use those properly
* knows by heart how percentage of change should be calculated and understands the reasons for the rules behind it
* knows by heart how the price without value-added-tax is calculated and handles the other types of value-added-tax-calculation too
* handles the basics of contribution margin calculation
* understands how discounts should be taken into account in pricing
* understands what is a simple index series, how it is created, when it can be used and how it is interpreted
* understands how ready-made index-series are used and what is their connection to phenomenons of business
* understands the value of money in sense of relative change and knows how it is calculated
* understands the logic of simple interest calculation and is able to calculate simple interest
* recognizes different outcomes of interest rate and different terms related to it
* understands the concept of real annual interest rate and knows how it is calculated
* knows the terms of payment and the rules and the basic legislation related to it

The contents and the implementation of the 4th credit point will be pricing i.e studying the topic 2.4. further in practice.

Additional information for students: previous knowledge etc.

No previous courses will be required or offered. Studying can and should be done during THIS course.

Attending the Restaurant functions course is required if a student wants to study the 4th ects as a pricing group-work.
If a sudent wont' attend the Restauran Functions -course he/she shall continue the Business mathematics course with IB-students (AL00CE31-51).

Assessment criteria

An exam is used to measure students' knowledge (3 efct).
Requirements: minimum 50 % of points.

In traditional version of examination: an approved performance in "crucial" exam question. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.
There may be crucial questions also in the on-line version. In this case the student can not proceed in the examination if he/she doesn’t handle the most important topics of the course. The crucial questions are % of change, the price without VAT, when the VAT rate and the price with VAT is given and the logic of simple interest calculation.
Please note that the on-line examination and traditional examination will be slightly different. Especially, an on-line examination will have its advantages but also disadvantages. A student must choose by her/himself which implementation suites better for her/him well before the examination. Only one implementation may be chosen.

The implementation of the 4th ects:
Group work of 1-4 students
Topic: present value investment calculation
Grading: Passed / to be completed / failed.

Assessment scale

1-5

Failed (0)

Student is not able to carry out half of the exam questions and/or student is not able to handle the **crucial questions in the examination.

Most probably the failed result means that student hasn't been studying maybe because of the lack of effort of because trusting too much on his/her earlier skills.

Note: Being able to calculate percentage calculation is not enough.

The group-work is not completed.

Assessment criteria: level 1 (assessment scale 1–5)

Grade1: Student is able to carry out half of the exam questions. In traditional exam this means that a student can either a) know something about all the topics studied during the course or) know well certain topics, but less about some topics. Student must handle the **crucial questions in the examination.

The student has completed the group-work in given time.

Assessment criteria: level 3 (assessment scale 1–5)

Grade3: Student has gained 70 %of the maximum points. In traditional exam this means that a student handles either a) all the topics of the course better than on average or b) certain topics completely. Student must handle the **crucial questions in the examination.


The student has completed the group-work in given time.

Assessment criteria: level 5 (assessment scale 1–5)

Grade5: Grade 5 requires 90 % of the maximum points.Student handles very well exercises from all the topics studied during the course. Student must handle the **crucial questions in the examination.


The student has completed the group-work in given time.

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

During spring 2022 there will be an in class implementation of Business Mathematics.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2021.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Assessment scale

1-5