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COURSE STUDY GUIDE OF BUSINESS MATHEMATICS

COURSE INTRODUCTION

This course covers the basic mathematical concepts associated with respect to business studies such as Economics and Finance. The course focuses on how to use real world equations and functions from in solving the issues in pertaining to commerce and business. The emphasis is placed on the improvement of students' quantitative skills. At the end of the course the students will possess heightened ability to manipulate and solve different types of equations especially from an algebraic perspective. The objective of the course is to enable the students to understand and employ mathematical tools in order to solve the day to day problems in business and finance. Apart from the class room activities, the students would be given assignments and surprise quizzes related to the topics discussed in the previous classes. A selection of key readings is given for each session. You will be given additional readings to follow up the sessions.

COURSE OUTLINE

WEEK
Topics
1
Mathematical functions
Domain and range considerations
Restricted domain
2
Types of mathematical functions and their applications

Linear function, quadratic, logarithmic and exponential functions

Revenue, Cost and profit functions
3

Interest rate and its computation Simple interest Compound interest
4
Single payment computations
Compound amount
Present value
Effective interest rate
5
Annuities: Future value and present value
The sum of an annuity
Determining the size of an annuity
Present value of annuity
Mortgages
6 The Calculus
Limits of a function
Properties of limits and continuity
Average rate of change and instantaneous rate of change
7
Differentiation Rules of differentiation Instantaneous rate of change interpretation
8
MID TERM EXAM
9
Higher order derivative Second order
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