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A220A0053 Investment and Business Analysis with Excel, 6 cr 
Code A220A0053  Validity 01.08.2018 -
Name Investment and Business Analysis with Excel  Abbreviation Investment and 
Credits6 cr   
TypeBasic studies  
  Grading scaleStudy modules 0-5,P/F 
  Eligibility for post-graduate studiesno
    Allowed to study several timesno
Organisation LUT School of Business and Management 

Mariia Kozlova 

Description by Study Guide

Location: full digi

The course requires practicing Excel and self-study on top of the exercises and lectures.

Only for Master's level students.


M.Sc. (Econ. & Bus. Adm.) 1


3-4, summer

Teaching Language 


Teacher(s) in Charge 

Post-doctoral researcher, D.Sc. (Econ. & Bus. Adm.) Mariia Kozlova


After the course the students:

- are able to collect and handle data in a spreadsheet environment performing tasks such as data consolidation, data cleaning, and basic data analysis

- are able to plan and perform various business and finance related analyses

- know how to create simple models for optimization and investment analyses

- are able to handle, record and write own simple macros to automate operations in Excel.


I. Basics of data visualization. Basic rules of data visualization, conditional formatting, waterfall chart, combo chart, treemap, 3Dmaps, flowcharts.

II. Data collection and analysis. Creating a watchlist, making investment program consolidation, performing data analysis with pivot tables and charts, creating an interactive dashboard, performing simple statistical analyses. Instruments: power query, pivot tables and charts, data analysis toolpack.

III. Portfolio optimization. Practicing with optimization problem setting, creating a stock portfolio optimization model, recording macros. Instruments: matrix multiplication functions, solver, VBA.

IV. Liquidity budgeting. Creating a liquidity budgeting model, recording macros, learning basics of VBA. Instruments: data tables, scenario manager, goal seek, VBA.

V. Investment analysis. Creating a profitability analysis model, performing break-even analysis, sensitivity analysis with a given macro, writing a Monte Carlo simulation macro. Instruments: data validation, goal seek, VBA.


Teaching Methods 

Fully online course. Self-preparation for the course with reading and video materials (10 h), working with video-tutorials of the course program (20 h), independent exercise work (100 h), peer to peer evaluation (20 h), moodle tests preparation (10 h). Total workload for the student 160 h. Moodle is used in this course.

Available in two forms: scheduled course with teacher support during periods 3-4 and self-paced summer course.

Examination in Examination schedule (Yes/No) 


Examination in Moodle (Yes/No) 


Examination in Exam (Yes/No) 


Assessment scale and assessment methods 

Grade pass-fail, evaluation 0-100 points, 50% exercises, peer to peer evaluation mandatory, 25% mini-tests after each module, 25% at the end of the course. Only moodle tests, no exam.

Alternatively, if you are proficient with Excel and VBA and all mentioned topics and instruments are familiar, you can skip all the course work and tests and get credits by taking one of the scheduled computer exams in the Origo exam aquarium.

Course Materials 

Video materials, assigned reading Beginning Excel What-If Data AnalysisTools: Getting Started with Goal Seek, Data Tables, Scenarios, and Solver, PaulCornell, 2006, Apress - available as an eBook in the library database.


Basic proficiency in Excel, assigned reading Beginning Excel What-If Data AnalysisTools: Getting Started with Goal Seek, Data Tables, Scenarios, and Solver, PaulCornell, 2006, Apress - available as an eBook in the library database.

For B.Sc students recommended A130A0620 Basics of MS Excel for Business Students.

Limitation for students? (Yes, number, priorities/Leave empty) 


Places for exchange-students? (Yes, number/No) 


Places for Open University Students?(Yes, number/No) 



Current and upcoming courses
Functions Name Type cr Teacher Timing
  Investment and Business Analysis with Excel  COURSE  Mariia Kozlova 
16.05.20 -31.08.20 -

Upcoming exams
No exams