Opetussuunnitelmat

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 21.8.2023 - 17.12.2023.

Materials

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

E-learning: Weekly online lessons, exercises and independent work.

Employer connections

-

Exam schedules

Supervised exams in week 49.

1st resit in the week starting 8 January 2024
2nd resit in the week starting February 5 2024

International connections

-

Completion alternatives

- Online implementation in Finnish in the fall of 2023 or in the spring of 2024
- Face-to-face implementation in Finnish in the fall of 2023
- Face-to-face implementation in English in the fall of 2023

Student workload

3cr = 3*27h = 81h, of which...
- guidance session approximately 7h
- exams approximately 4h
- independent studying approximately 70h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 21.8.2023 - 17.12.2023.

Materials

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus.
E-learning: Weekly online lessons, exercises and independent work.

Employer connections

-

Exam schedules

Exams in week 49.

1st resit in the week starting 8 January 2024
2nd resit in the week starting February 5 2024

International connections

-

Completion alternatives

- Online implementation in Finnish in the fall of 2023 or in the spring of 2024
- Face-to-face implementation in English in the fall of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 10h
- guidance session approximately 7h
- exams approximately 4h
- independent studying approximately 60h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 28.8.2023 - 5.11.2023.

Materials

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus, exercises and independent studying.

Employer connections

-

Exam schedules

The exams will take place at:
- Lessons of the week starting on 30.11.
- First resit 22.11.2023
- Second resit 13.12.2023

International connections

-

Completion alternatives

- Online implementation in Finnish in the fall of 2023 or in the spring of 2024
- Hybrid implementation in Finnish in the fall of 2023 or the spring of 2024
- Face-to-face implementation in English in the fall of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 24h
- exams approximately 4h
- independent studying approximately 53h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 28.8.2023 - 5.11.2023.

Materials

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2019. Fundamentals of engineering economics. Fourth edition, Global edition. NY, NY: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus, exercises and independent studying.

Employer connections

-

Exam schedules

The exams will take place at:
- Lessons of the week starting on 30.11.
- First resit 22.11.2023
- Second resit 13.12.2023

International connections

-

Completion alternatives

- Online implementation in Finnish in the fall of 2023 or in the spring of 2024
- Hybrid implementation in Finnish in the fall of 2023 or the spring of 2024
- Face-to-face implementation in Finnish in the fall of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 24h
- exams approximately 4h
- independent studying approximately 53h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indices and inflation
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment profitability calculations
- comparison of investment alternatives
- profit margin calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 9.1.2023 - 19.5.2023.

Materials

Learning material available in the learning environment.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Online-learning. Exercises and independent studying.

Employer connections

-

Exam schedules

Possible dates for exam / resit:
- 18.1.2023
- 8.2.2023
- 22.3.2023
- 12.4.2023
- 17.5.2023
- 31.5.2023

International connections

-

Completion alternatives

- Face-to-face implementation in English in the fall of 2022
- Hybrid implementation in Finnish in the spring of 2023
- Online implementation in Finnish in the spring of 2023

Student workload

Calculatory workload:
27 h/op * 3op = 81 h

Of this approximately
- 32 h of studying the material
- 45 h of exercises
- 4 h for exams

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 13.3.2023 - 30.4.2023.

Materials

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus.
E-learning: Weekly online lessons, exercises and independent work.

Employer connections

-

Exam schedules

The dates of the exams are:
- On week 17. Exact dates depend on the scheduling of face-to-face lessons.
- 1st resit 17.5.2023
- 2nd resit 31.5.2023

International connections

-

Completion alternatives

- Online implementation in Finnish in the fall of 2022 or in the spring of 2023
- Face-to-face implementation in English in the fall of 2022

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 10h
- exams approximately 4h
- independent studying approximately 67h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your Grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 31.10.2022 - 18.12.2022.

Materials

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus, exercises and independent studying.

Employer connections

-

Exam schedules

The dates of the exams are:
- Lessons of the week starting on 12.12.
- First resit 18.1.2023
- Second resit 8.2.2023

International connections

-

Completion alternatives

- Online implementation in Finnish in the fall of 2022 or in the spring of 2023
- Face-to-face implementation in English in the fall of 2022
- Hybrid implementation in Finnish in the spring of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 24h
- exams approximately 4h
- independent studying approximately 53h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your Grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 31.10.2022 - 18.12.2022.

Materials

Learning material prepared by teacher.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Face-to-face learning: Lectures at the Rajakatu campus, exercises and independent studying.

Employer connections

-

Exam schedules

The dates of the exams are:
- Lessons of the week starting on 12.12.
- First resit 18.1.2023
- Second resit 8.2.2023

International connections

-

Completion alternatives

No alternative implementations in English.

Alternative implementations in Finnish:
- Online implementation in Finnish in the fall of 2022 or in the spring of 2023
- Face-to-face implementation in Finnish in the fall of 2022
- Hybrid implementation in Finnish in the spring of 2023

Student workload

3cr = 3*27h = 81h, of which...
- lessons approximately 24h
- exams approximately 4h
- independent studying approximately 53h

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your Grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Location and time

This implementation takes place 29.8.2022 - 21.12.2022.

Materials

Learning material available in the learning environment.

Books in Finnish:
- Saaranen, P., Kolttola, E. & Pösö, J. 2016. Liike-elämän matematiikka. 11. uudistettu painos. Helsinki: Edita.
- Pulkkinen, P. & Holopainen, M. 2006. Talous- ja rahoitusmatematiikka. 4. uud. p. Helsinki: WSOY oppimateriaalit.

Books in English:
- Park, C. S. 2007. Contemporary engineering economics. 4th ed. Upper Saddle River, NJ: Pearson.
- Newnan, D. G., Eschenbach, T. G. & Lavelle, J. P. 2016. Engineering economic analysis. International twelfth edition. New York: Oxford University Press.
- Farr, J. V. & Faber, I. 2021. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, FL: CRC Press.

Teaching methods

Online-learning. Exercises and independent studying.

Employer connections

-

Exam schedules

Possible dates for exam / resit:
- 9.11.2022
- 30.11.2022
- 14.12.2022
- 18.1.2023
- 8.2.2023

International connections

-

Completion alternatives

- Face-to-face implementation in English in the fall of 2022
- Hybrid implementation in Finnish in the spring of 2023
- Online implementation in Finnish in the spring of 2023

Student workload

Calculatory workload:
27 h/op * 3op = 81 h

Of this approximately
- 32 h of studying the material
- 45 h of exercises
- 4 h for exams

Content scheduling

More precise timing will be presented in the beginning of the course, but the topics will be discussed more or less in the following order:
- indexes
- simple interest
- compound interest
- periodic payments
- financial calculations
- investment calculations

Further information

Final exam in two parts. Part 1 determines whether you pass or fail, part 2 determines your grade.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets

Objective

Purpose
You get to know the mathematical principles of business economy. You understand the time value of money. You are able to estimate the profitability of operations by using financial calculations.

Learning outcomes
You know the basic concepts and methods in business economy used by engineers. You can perform calculations involved with interest, indexes, financing, investment and life cycle cost by using spreadsheets and make estimates based on them about the economic worth of operations.

Content

Time value of money. Using indexes.
Interest, discounting and recurring amounts
Financial calculations
Investment calculations
Life cycle cost calculations
Optimal replacement time of equipment
Using Excel

Materials

Saaranen, P., Kolttola, E. & Pöso, J. (2017) Liike-elämän matematiikka. Edita

Teaching methods

Monimuotototeutus sisältää kontaktiopetusta, itsenäistä opiskelua ennen kontakteja ja niiden jälkeen palautettavia oppimistehtäviä

Completion alternatives

Korvaava englanninkielinen opintojakso TZLM8300 Business Mathematics

Student workload

Kontaktitunnit noin 15 h
Itsenäinen opiskelu noin 30 h
Harjoitustehtävät noin 30 h
Kokeeseen valmistautuminen noin 5 h

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient 1
You have achieved the desired goals. You know a few of the concepts and methods and how to apply them in familiar situations but your reasoning is often deficient and you make mistakes in calculations.

Satisfactory 2
You have achieved the desired goals. You know many of the concepts and methods and how to apply them in familiar situations but your reasoning is sometimes deficient or you make mistakes in calculations.

Assessment criteria, good (3)

Good 3
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in familiar situations showing often the ability to reason completely and calculate flawlessly

Very good 4
You have achieved the desired goals. You know most of the concepts and methods and how to apply them in new situations showing in most cases the ability to reason completely and calculate flawlessly.

Assessment criteria, excellent (5)

Excellent 5
You have achieved the desired goals. You know all the concepts and methods and how to apply them in new situations showing always the ability to combine things, reason completely and calculate flawlessly.

Qualifications

Basic use of spreadsheets