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Course informations
| Study program level |
Undergraduate |
| Study program |
Management |
| Study program direction |
Management of rural tourism |
| Course year |
1. |
| Course semester |
I |
| Course status |
Core |
| ECTS |
6 |
| Lectures (h) |
30 |
| Excercises (h) |
30 |
| Seminars (h) |
- |
Course objectives
Students will apply basic mathematical methods and procedures necessary for different applications in the economy and the rationally decide on the way of lending. They will learn to use the Linear Program Solver program for optimization and formulas in Excel in order to calculate the final / initial value of post numeration/pre numeration payments, compile a repayment table for loans by equal annuity methods, equal repayment quotas and agreed annuities, and loan conversion.
Course outcomes
Name of the set of learning outcomes: Basic economic accounts
Level: 5
- Calculate and explain issues related to percentage (more 100, less 100) and pro mile accounts.
- Calculate and explain issues related to ratios, proportions, and proportions, rule three, account decomposition, mix account, and account balance.
Name of the set of learning outcomes: Simple and complex interest account
Level: 5
- Specify the definition of arithmetic and geometric series.
- Determine the similarities and differences between simple and complex interest rates, decursive and anticipated interest rate calculations, and conforming and relative interest rates.
- Decide whether it’s a final or initial numbering or post numeration of periodic payments (payments).
- Use calculators and / or computers (using MS Excel) to solve problems in the specified area and explain the gained results.
Name of the set of learning outcomes: Loan calculations
Level: 6
- Identify the similarities and differences between several loan repayment methods (equal annuities, equal repayment quotas, and agreed annuities).
- Assess which of the methods is more favorable for a borrower depending on his/her financial capabilities.
- Comment and compile the repayment schedule of the loan (for simpler examples using calculators, for more complicated with a computer (in MS Excel)).
- Determine and explain the difference between interest rates when applying the relative or conforming interest rate.
- Calculate the intercalary interest and the amount of the loan annuity in the three possible ways of paying interest rates (during the grace, beginning of loan repayment, attributing interest to the principal sum).
- Estimate and calculate the loan conversion with the given parameters.
- Understand the consequences of changing loan repayment terms.
Course content
Economic Mathematics: ratios, proportions, three-tier rule, split account (simple, complex), compound bill (simple and complex), bank account, gold and silver account, currency account, percentile account from 100, percentile account lower (higher) than 100, pro mille account, measures and calculation of measures (metric system, Anglo-American system). Sequences: concept, boundary value, some of the most important series, arithmetic and geometric series. Financial mathematics: simple interest accounting (decursive and preliminary incorporation), multiple commodity accounting, savings account, term account, consumer loan, current account, simple and complex interest account (decisive and prudent), final and present role values, nominal, the relative and the conforming interest rate (decursive and anticipatory calculation), the continuous maturity, the final and the initial value by the numbering and post numeration of periodic payments (payment), the eternal rent, the loan, the loan with equal annuities, the repayment of the loan under annual annuities, the loan with equal repayment quotas, with different annuities and various repayment quotas, conversion of the loan.
