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SCHOOL OF BUSINESS, ECONOMICS AND MANAGEMENT
BBA 120- BUSINESS MATHEMATICS
First year –First semester
Course Outline
OBJECTIVE
The course aims to provide an introduction to mathematical concepts and lay down a
foundation for applications of basic tools and techniques for various areas of business
such as economics, accountancy and the life and social sciences. It begins with non
calculations topics as Basic mathematics, equations, functions, matrix algebra,
mathematics of finance etc. Then it progress through both single-variable and multivariable calculus. An abundance and variety of applications appear throughout the
course. Students continually see how the mathematics they are learning can be
applied to practical business problems. These applications over such diverse areas
as business, economics, sociology, finance etc.
CONTENT
1.0
SET OPERATIONS
2.0
EQUATIONS AND INEQUALITIES
Operations expressions, factorizing, fractions, linear equations, quadratic
equations. Linear inequalities, non-linear equations, absolute value,
applications of equations and in equations.
3.0
FUNCTIONS AND GRAPHS
Definition of a function, special functions, combination of function, plotting
functions in rectangular co-ordinates, inverse functions, transformations.
4.0
TYPES OF FUNCTIONS
4.1
The Straight line and Applications
Demand, Supply, Cost, Revenue, Translations, Elasticity Of Demand, Supply
And Income Budgeters And Cost Constraints.
4.2
Simultaneous Equations
Solving simultaneous linear and non-linear equations, equilibrium and breakeven, consumer and producer surplus. .
4.3
Non-Linear functions and Applications
Quadratic, cubic and other polynomial function, exponential function,
logarithmic functions,.
5.0
MATHEMATIC OF FINANCE
Simple Interest And Simple Discount, Compound Interest And Compound
Discount, Sequences,
6.0
MATRIX ALGEBRA
Definition, matrices as stores of data, organizing and handling business data,
matrix addition, subtraction, scalar multiplication, matrix multiplication, method
of reduction, inverse, determinant, Cramer’s rule, inverse using the adjoint,
7.0
CALCULUS
7.1.
Limits and Continuity
Limits, continuity of a function of one variable, economic applications of
continuous function, intermediate value theorem.
7.2.
Differentiation
The derivative, rules for differentiation, the derivative as a rate of change,
differentiability and continuity, product and quotient rules, the chain rule and
power rule, derivative of logarithmic functions, derivatives of exponential
functions, implicit differentiation, logarithmic differentiation, higher-order
derivatives.
7.3.
Differentiation and Applications
Slope of a curve, marginal function, average functions, optimization for
functions of one variables, elasticity and the derivative etc.
7.4.
.Integration and Application
The indefinite integral, integration with initial, conditions, techniques of
integration, the definite integral, the fundamental theories of integral calculus,
areas, area between two curves, the consumer’s surplus (CS) and producer’s
surplus, integration by parts,
GRADING
The course grade will be determined approximately as follows:40% from tests and assignments (continuous assessment) 60% from the final
comprehensive Examination.
RECOMMENDED TEXTBOOKS.
1.
Introductory Mathematical Analysis for Business, Economics, and the
Life and Social Sciences, Ernest F Haeussler, Jr, Richard S Paul.
2.
Mathematics for Economics and Finance Methods and Modeling, Martin
Anthony and Norman Biggs.
3.
Essential mathematics for Economics and Business,
and Paul Patton.
4.
Calculus for Business and Economics, Tailoka F P
5.
Mathematical Analysis for Business, Economics, and the Life and Social
Sciences, Jagdish C Arya and Robin W Lardner.
6.
Essential Mathematics for Economics, 2nd Edition, J Black and J F Bradley.
Teresa
Bradey