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Business Mathematics I syllabus

MTH 2016 units · 30 topicsAcademic year 2083/84
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Business Mathematics I

6 units

1. Straight lines and Functions (6 LHs)

  1. Straight lines
    1. Straight lines
    2. Linear functions
  2. Applications
    1. Applications: demand
    2. supply
    3. cost
    4. revenue
  3. Elasticity of demand
    1. Elasticity of demand
    2. Supply and income
  4. Budget and cost constraints
    1. Budget and cost constraints
  5. Least square method and line of best fit (two variables only)
    1. Least square method and line of best fit (two variables only)
  6. Least square method for time series analysis. Lab. Work
    1. Least square method for time series analysis. Lab. Work: Introducing Excel
  7. Excel for linear functions
    1. Excel for linear functions.

2. Simultaneous equations (5 LHs)

  1. Simultaneous linear equations
    1. Simultaneous linear equations
  2. Equilibrium and break-even points
    1. Equilibrium and break-even points
    2. Consumer surplus
  3. Producer surplus and Total surplus
    1. Producer surplus and Total surplus
  4. National income and the IS- LM model Lab. Work
    1. National income and the IS- LM model Lab. Work: Excel for simultaneous linear equations.

3. Quadratic Equations (5 LHs)

  1. Graphs of Quadratic functions, Quadratic equations, Applications to economics and business
    1. Graphs of Quadratic functions, Quadratic equations, Applications to economics and business
  2. Lab. Work
    1. Lab. Work: Excel for quadratic equations.

4. Non-linear functions, their graphs and applications (10 hrs)

  1. Cubic and other polynomial functions
    1. Cubic and other polynomial functions, Exponential functions, Logarithmic functions, Hyperbolic functions of the form a/(bx + c)
  2. Bisection method, Newton-Raphson method for solving nonlinear equations. Lab. Work
    1. Bisection method, Newton-Raphson method for solving nonlinear equations. Lab. Work: Excel for non-linear functions
  3. Smart math calculator (software)
    1. Smart math calculator (software): Bisecton method, Newton-Raphson method.

5. Financial mathematics (10 LHs)

  1. Arithmetic and geometric sequences and series
    1. Arithmetic and geometric sequences and series
  2. Simple interest
    1. Simple interest, compound interest and annual percentage rates, Depreciation, Net present value and internal rate of return, Annuities, debt repayments, sinking funds
  3. Relationship between interest rates and the price of bonds. Lab. Work
    1. Relationship between interest rates and the price of bonds. Lab. Work: Excel for financial mathematics.

6. Limit and Differentiation, Applications of derivatives (12 LHs)

  1. Idea of limit
    1. Idea of limit
  2. Limit of algebraic functions at a point and at infinity (basic concept only)
    1. Limit of algebraic functions at a point and at infinity (basic concept only)
  3. Slope of a curve and differentiation
    1. Slope of a curve and differentiation
  4. Rules of differentiation ( power rule, sum rule, product rule, quotient rule, and chain rule)
    1. Rules of differentiation ( power rule, sum rule, product rule, quotient rule, and chain rule)
  5. Differentiation by first principle ( algebraic, logarithmic and exponential functions)
    1. Differentiation by first principle ( algebraic, logarithmic and exponential functions)
  6. Differentiation and marginal analysis (marginal cost, marginal revenue and marginal profit)
    1. Differentiation and marginal analysis (marginal cost, marginal revenue and marginal profit)
  7. Increasing and decreasing function
    1. Increasing and decreasing function
    2. Stationary point
    3. Point of inflection
  8. Differentiation of implicit and parametric functions
    1. Differentiation of implicit and parametric functions
  9. Economic applications of derivatives for maximum and minimum points
    1. Economic applications of derivatives for maximum and minimum points
  10. Higher order derivatives ( up to 3rd order)
    1. Higher order derivatives ( up to 3rd order)
    2. Curvature
  11. Elasticity of demand and the derivatives. Lab. Work
    1. Elasticity of demand and the derivatives. Lab. Work: Excel for applications of derivatives.