Course - Practical economics with calculations - AM101020
Practical economics with calculations
About
About the course
Course content
Learning outcomes:
- Discuss the role of economics and statistics in a business
- Perform calculations on practical examples in a business, which increases understanding of economic and statistical transactions.
- Perform basic statistical tests
- Provide recommendations for good, sustainable choices for businesses based on calculations
- Discuss economic and statistical concepts, number-based choices and consequences
Topics:
- Simple arithmetic, algebra and graphical presentation of economic problems, including simple functions and equations
- Percentage calculation
- Financial key figures
- Calculation basis and selective calculation
- Break-even analysis
- Descriptive statistics
- Simple analysis of variance
- Cross-tabulation analysis/covariance
Learning outcome
Knowledge
The candidate must:
1. be able to use numerical calculations to interpret and solve concrete business financial problems
2. be able to produce and use calculation bases to gain a comprehensive understanding of business economic problems
3. have an understanding of the use of statistics in business economics problems
Skills
The candidate must:
1. be able to calculate on interest rates and financial problems
2. be able to calculate on cost and income functions, and solve simple equations that describe economic relationships
3. be able to analyze and discuss financial break-even problems
4. be able to use calculation techniques to find financial key figures and be able to use these as a basis for financial decisions (contribution margin, gross profit, profit margin, cost methods, contribution methods, etc.)
5. be able to apply simple descriptive statistics, perform simple analysis of variance and cross-tabulation
Competence
The candidate must:
1. be able to use mathematics to find possible solutions to practical economical problems
2. be able to transfer solving techniques for one type of financial problem to another
3. be able to understand simple statistical methods and apply them to economical problems
Learning methods and activities
Pedagogy:
Combined sessions with lectures, arithmetical exercises in groups and briefing/ debriefing in plenary.
This course emphasizes collaborative learning.
Compulsory assignments
- Mandatory assignment
Further on evaluation
Special conditions
Students should be registered for both classes and examination in the same semester.
Mandatory assignments will be specified in the beginning of the semester. Previously approved mandatory assignments are valid in later examination attempts.
Examination aids:
D: No printed or hand-written support material is allowed. A specific basic calculator is allowed. In addition, a basic non-programmable calculator is allowed.
Other calculators that are allowed in the course are: Casio FC-100V and Texas Instruments - BAII Plus.
Specific conditions
Admission to a programme of study is required:
Biomarine Innovation (298BMI)
Marketing, Innovation and Management (359ML)
Recommended previous knowledge
As for the study program.
Course materials
Will be specified when the semester starts.
Subject areas
- Managerial Economics, Finance and Operations Research
Contact information
Course coordinator
Lecturers
Department with academic responsibility
Examination
Examination
Ordinary examination - Autumn 2025
Written exam
The specified room can be changed and the final location will be ready no later than 3 days before the exam. You can find your room location on Studentweb.