Study Guide

Objective

Having completed this study unit
• You can apply economic mathematics and statistical methods to support business decisions
• You know how to use statistical mathematics and spreadsheets in the analysis of research data.
• You know how to report the results obtained.

Competences: Learning to learn Competence, Financial Management and Business related Law Competence / Business and Financial Management Competence

Content

Mathematics
• Interest bills
• Margin calculation
• Currencies and indices
• Tax
• Simple interest, compound interest and periodic payments

Statistics
• Statistical indicators
• Tables and charts

Location and time

Autumn term 2025, Lapland University of Applied Sciences, Rantavitikka campus (Rovaniemi, Jokiväylä 11)

Materials

Study material will be available on the Moodle learning platform.

Teaching methods

Lessons and exercises

Exam schedules

The number and date of exams will be agreed on during the course. Resit is possible by the end of the next term.

Completion alternatives

Studying independently is possible. All exercises must be returned in time to be evaluated.

Evaluation scale

H-5

Assessment criteria, satisfactory (1)

Level 1
Mathematics
You are able to solve basic level business and business mathematics tasks using spreadsheet applications.

Statistics
You know the basic concepts of statistical mathematics and can interpret statistical presentations.
You can describe statistical data with key figures and graphical representations.
You are able to use the statistical functions of spreadsheet software.

Level 2
Mathematics
You can solve business and business mathematics tasks using spreadsheet applications and a calculator satisfactorily.
You face challenges in understanding the results obtained.

Statistics
You know the basic concepts of statistical methods and can calculate the most essential key figures from given data fairly independently.
You can use the features of spreadsheet software for creating tables and determining key figures fairly independently.
You have some shortcomings in presentation techniques.

Assessment criteria, good (3)

Level 3
Mathematics
You can utilize business mathematics in decision-making processes and understand the significance of the results.

Statistics
You can utilize statistical mathematics in analyzing and interpreting research data.
You are able to report the results.

Level 4
Mathematics
You can solve demanding business and business mathematics tasks well and apply the results obtained.
You can justify the results obtained and use them in planning further actions.

Statistics
You can utilize statistical mathematics in analyzing and interpreting research data.
You can report the results and make justified conclusions. The presentation techniques are refined.

Assessment criteria, excellent (5)

Level 5
Mathematics
You can solve demanding business and business mathematics tasks and apply the results obtained.

Statistics
You can apply statistical mathematics in analyzing research data, interpreting results, and applying results in practice.
You are able to report the results analytically and from a perspective of business development.

Assessment methods and criteria

Evaluation is based on exercises and tests and/or exams . The emphasise on these will be agreed upon at the beginning of the course with the students.