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Business Mathematics

How can a forecast for a particular economic sector be developed? How can associated risks for businesses be determined and cost minimized? And what is the basis of an optimal production plan? If you find these questions interesting, you have come to the right place!
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Key facts
Degree
Bachelor of Science
Duration
6 Semesters
Credits/ECTS
180
Teaching language
German
Tuition fee
None
Semester contribution
€ 266,10
Start of studies
Winter semester
Part-time possible
Yes
Application & Deadlines

Content of the study programme

Calculating prices, making comprehensive forecasts and preparing balance sheets; add to that getting to grips with complicated economic problems and, in the best case, solving them right away? Yes, all this is part of Business Mathematics, but the study programme enables you to do much more than that! Many—and in fact not only technical—parts of today’s day-to-day life can only be understood with a certain knowledge of mathematics. As a business mathematician, you will not so much study facts, but rather a way of thinking and solving problems. In short: You integrate mathematics into business and economic life for the purpose of forecasts, planning, and decision-making. All of these are key elements in business management: Without mathematics, there is no business! 

The Bachelor of Science ‘Business Mathematics’ comprises a solid basic training in mathematics and in economics and business administration. In addition, modern mathematical theories and methods that have become standard in the industry are part of the programme. This is why in-depth knowledge in the disciplines mathematical optimization, probability theory, statistics, and financial mathematics is taught, all of which are particularly useful for modelling economic processes. In economics and business administration, the basics of modern economics and business administration are taught as well as specializations in the fields of operations management, business decisions analysis, capital investments, financing, and the capital market and finance studies. And what is best: You can easily specialize for your future professional career during your studies. In this bachelor's programme, you can choose between three focuses.

Structure

The bachelor's degree is the first professional qualification. The standard period of study is six semesters, during which various forms of courses (e.g. seminars, lectures or practical courses) are offered for the individual modules.

If you take a single-subject bachelor’s programme in ‘Business Mathematics’, your field of study will comprise 180 credit points (CP for short; 1 CP = 30 hours for attendance, preparation and follow-up work, private study, assessed coursework and examinations).

What is special about this bachelor’s programme is that you can choose between three focuses. This usually happens at the end of the third semester at the latest.

By the way: In order to prepare students for the study programme, we offer a bridging course in mathematics, and we strongly recommend all students to participate.

Focuses

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In the single-subject bachelor’s programme ‘Business Mathematics’, you can choose between three focuses. The standard focus offers a broad range of economics-related topics.

Your other options are the focuses ‘Business Optimization’ and ‘Financial Engineering and Stochastics’, which are particularly relevant for certain future professions. A career-oriented focus is also certified in the final certificate.

Focus ‘Business Optimization’

In addition to the general basics, in this focus you will acquire specialist knowledge and skills oriented towards particular perspectives in the industry. Here, very complex tasks are waiting to be solved in the best possible way. The long list of possible questions includes, for example:

  • A certain part that is to be used in an aircraft should have certain mechanical and functional properties, but at the same time minimal weight in order to save fuel. What shape must the part have?
  • A logistics company has thousands of orders to process and has to adhere to deadlines and many other restrictions. The costs and emissions are to be minimized. Which vehicle has to take which route?
  • A company produces fruit yoghurt. On each of the three production lines, only one of the 23 varieties can be produced at the same time. Switching the variety requires the machine to be cleaned, which costs money. The company has to consider delivery dates, shelf life dates, ingredient stocks and many more things. What does an optimal production plan look like? When to change to which variety on which line?

Focus ‘Financial Engineering and Stochastics’

In addition to the general basics, in this focus you will learn skills and knowledge to solve problems from the world of finance and insurances. Many economic decisions have to be taken in an environment of uncertainty, as the development of relevant risk factors cannot be foreseen exactly. In this focus, you will gain in-depth knowledge of stochastic methods. Here are some problems that can be solved with the methods learned:

  • Most businesses face market risks due to the fact that prices, interest rates and exchange rates are constantly changing. It is vital for them to assess the risks well and to take precautionary measures. Which market variables are particularly relevant for a company? How to model the development of risk factors with stochastic means and assess associated risks? How to conduct a stress test? Which are the methods that efficiently reduce risks?
  • An insurance company wants to offer insurance cover against damage to solar panels. For this purpose, it must estimate the probabilities of damage. How can the damage be modelled stochastically? What is a fair premium for the insurance?
  • When it comes to research on the internet, search engines such as Google are essential. A search engine aims to sort the web pages containing searched keywords according to the best possible criteria. The Markov chain theory helps to present search results in a fair ranking. How does this work?

How might your study programme shape up?

The following table shows the possible structure of your course if you choose the standard focus ‘Business Mathematics’:

Modules 1st 2nd 3rd 4th 5th 6th
Analysis 9 CP 9 CP        
Algebra/Geometry 9 CP 9 CP        

Programming

3 CP          
Introduction to Probability Theory and Statistics   6 CP        
Introduction to Numerical Analysis and Scientific Computing     9 CP      
Measure Theory     6 CP      
Linear Optimization     9 CP      
Methods of Insurance and Financial Mathematics       6 CP    
Introduction to Optimization       6 CP    
Statistical Methods         6 CP  
Required elective module 9 CP 6 CP 6 CP 9 CP 24 CP 18 CP
Internship and GKQ       9 CP    
Bachelor thesis           12 CP

Abbreviations: CP = credit points; GKQ = general key qualification

More detailed information can be found in the module catalogue for the study programme [in German].

Why study in Jena?

Theresa Herrmann Theresa Herrmann Image: privat

I found the combination of mathematics and economics very intriguing, because you can apply complex mathematical correlations to real-life problems. In addition, Jena won me over with its vibrant student scene. The support during the introductory phase of studies and the support from our student representative committee make studying at the University of Jena very special.

Theresa Herrmann, student 

  • Optimum support: Lectures are delivered in front of small groups of students. This gives you the opportunity to come into direct contact with lecturers and also creates space for individual discussions and a family-like atmosphere.
  • Excellent research: Priority areas include ‘complex systems’ as a University project, topics from analysis, stochastics, algebra and geometry, as well as gravitational-wave astronomy.
  • Award-winning introductory phase of studies: In the first semesters, we support our students in many ways with the help of a concept consisting of classroom exercises in all courses, individual support in the ‘MatheCafé’ and the annual exam preparation weekend.
  • Possibilities without borders: Experience internationality! The University attracts students and scientists from all over the world with its appealing conditions and shapes Jena's character as a future-oriented and cosmopolitan city — ideal conditions for international prospective students [mp4, 55 mb].
  • Adventure abroad: If you dream of spending a semester abroad, you can easily make it come true. Our University has a worldwide network of partner universities.

Behind the scenes

Fakultätsgebäude
The Faculty of Mathematics and Computer Science is located in the heart of the city—directly on campus at Ernst-Abbe-Platz 2.

Studium – und dann?

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Areas of employment for graduates

  • finance (banking, insurance, building societies)
  • industry (data processing, management, business statistics, controlling, etc.)
  • public sector (taxation, statistical offices)
  • higher education and research institutions

Postgraduate master’s programmes at our University

What are the personal requirements?

  • basic knowledge of mathematics
  • interest in analysing and modelling business and economic processes
  • understanding of mathematical thinking
  • interest in solving problems with a logically structured approach

Admission requirements

University entrance qualification Expand entry

A university entrance qualification, such as a general secondary school leaving certificate, is required for admission onto the study programme.

More information on university entrance qualifications can be found here.

Language requirements Expand entry

Admission and language requirements for applicants of foreign nationality and without German Abitur: www.uni-jena.de/en/study-orientation-international

Contacts

Subject-specific academic advisor — Dr Benjamin Weißing
Examinations Office of the Faculty of Mathematics and Computer Science
Tutor — Helen Würflein
Student Representative Committee Mathematics
Central Student Advisory Service
Office hours:
We offer consultations and the handling of your concerns in person, via video chat or telephone. Appointments can be made by phone or via service desk.

Consultation hours:
Monday, Tuesday, Thursday and Friday from 9:00 to 12:20, Tuesday 14:00 to 18:00 and on Wednesday and Thursday from 14:00 to 16:00.
Video chat:
Videochat Zeiten
Monday to Friday 12.30 to 13:00
Videochat Passwort
ZSB2020
Student Service Centre
Opening hours:
Monday 10 - 12
Tuesday 13 - 15
Wednesday 10 - 12
Thursday 13 - 15
Friday 10 - 12

Updates / adjustments may occur at any time. Thank you for your understanding!

We currently provide advice and handle your concern solely also via phone and service desk.

You can reach us by phone
Monday to Friday from 9:00 to 11:00
Postal address:
Friedrich-Schiller-Universität Jena
Studierenden-Service-Zentrum
07737 Jena
International Office - International students
University Main Building
Fürstengraben 1
07743 Jena