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 Demonstrate comprehensive knowledge of key concepts across the breadth of effective application and use of MIS and innovative information technologies in organizations.
2. P02 Demonstrate autonomy and responsibility in managing MIS projects and improving organizational processes
3. P03 Demonstrate comprehensive understanding of appropriate enterprise frameworks, theories from the MIS to research and assess contemporary issues in the field and related allied fields and disciplines
4. P04 Apply MIS knowledge to facilitate the acquisition, development, deployment, and management of information systems
5. P05 Apply MIS knowledge to the exploitation of opportunities created by information technology innovations ensuring the alignment between MIS strategy and organizational strategy
6. P06 Demonstrate ethical reasoning in relation to crucial MIS issues such as privacy, information security, and ethical use of information
7. P07 Apply appropriate technologies and techniques to the collection and analysis of organizational and environmental data to facilitate evidence-based decision-making
8. P08 Analyse organizational data to accurately identify organizational problems and propose solutions using MIS
9. P09 Apply effective communication skills consistent with the professional environment
10. P10 Apply effective collaboration skills consistent with the professional environment

Po-Lo Matrix