MATHEMATICS FOR BUSINESS AND ECONOMICS-I

Course Description

This course is designed for students who study in the departments of Business and Economics in order to equip students with the knowledge and aspects of mathematics such as simple and compound interest, payroll, annuities, asset valuation, retail evaluation, linear programming. The intention behind this course is to teach students how to integrate key components of economic analysis into managerial decisions by using mathematical tools. Topics include: working with algebraic statements, power and indices, fractions, factorization, functions of one variable, linear and quadratic functions, solving linear and quadratic equations, sketching graphs of functions of one variable, linear and power functions, using linear models to model cost, revenue, profit, demand, supply, break-even points, and equilibrium points.

MATHEMATICS FOR BUSINESS AND ECONOMICS-I

Evaluation Tools (Active Term)

Course outcomes

1. 01 Understand the basic revision of mathematics skills
2. 02 Understand how graphs co-ordinates, interceptions are derived. FInd budget constraints and supply and demand curve of a goods
3. 03 Solve linear equation with more than two unknowns, understand market equilibrium, able to analysis cost, volume and profit and how to derive macroeconomics models
4. 04 Find graphical inequalities, simultaneous linear inequalities, objective function, and application linear programmimng
5. 05 Determine arithmetic, geometric progressions, compound interest, present values, Internal rates of return, annuities and economic growth

Course Syllabus

Reference Books & Course Materials

1. 01 Mathematics_for_Economics_and_Business by Ian Jacques

Learning Outcomes

1. L01 Understand the basic revision of mathematics skills
2. L02 Understand how graphs co-ordinates, interceptions are derived. FInd budget constraints and supply and demand curve of a goods
3. L03 Solve linear equation with more than two unknowns, understand market equilibrium, able to analysis cost, volume and profit and how to derive macroeconomics models
4. L04 Find graphical inequalities, simultaneous linear inequalities, objective function, and application linear programmimng
5. L05 Determine arithmetic, geometric progressions, compound interest, present values, Internal rates of return, annuities and economic growth

Program Outcomes

1. P01 1. Gained the necessary skills to learn and adopt a spirit of continuous learning in their professional life.
2. P02 2. Developed various skills by working independently via specific learned techniques that both triggered individual efforts and encouraged collaborative work.
3. P03 3. Acquired the essential knowledge and skills to apply key theories, models and applications within the global business context.
4. P04 4. Adopted and applied critical and strategic thinking together with research capabilities for efficient and effective business decisions.
5. P05 5. Utilized and managed ethically information technologies required for contemporary business world.
6. P06 6. Been equipped with conceptual and analytical skills necessary for team work within global organizations.
7. P07 7. Displayed their learnt communication skills that are required to effectively interact in a cross cultural and diverse international work environment.
8. P08 8. Applied their acquired knowledge within the changing work environment.
9. P09 9. Developed an understanding of ethical perspectives and social responsibilities to be used at work and in personal life.

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