The 3-credit course aims to increase students' math skills for business applications. Students will learn topics like ratios, proportions, interest calculations, linear programming, differentiation, and applying calculus to marginal analysis and optimization. Assessment includes a final exam, midterm, assignments, and attendance. The primary textbook is Business and Personal Finance Math and additional reading is Calculus for Business, Economics and the Social Sciences.
The 3-credit course aims to increase students' math skills for business applications. Students will learn topics like ratios, proportions, interest calculations, linear programming, differentiation, and applying calculus to marginal analysis and optimization. Assessment includes a final exam, midterm, assignments, and attendance. The primary textbook is Business and Personal Finance Math and additional reading is Calculus for Business, Economics and the Social Sciences.
BACHELOR OF SCIENCE IN BUSINESS INFORMATION TECHNOLOGY PROGRAMME ACADEMIC YEAR 2020/ 2021 COURSE DESCRIPTION
BBI 6421 Management Mathematics
Contact Hours 51 Pre-requisite Pre-calculus Purpose/Aim The purpose of this management mathematics course is to increase the student’s math knowledge and skills required as a business student. Course Objective After successful completion of the course students should be able to: (Indicative Learning Define basic terms in the areas of business calculus and financial Outcomes mathematics. Solve the ratio of proportions in business shares, percentages, appreciation & depreciation problems, commission, simple interest and compound interest related problems. Explain basic methods of business calculus, types and methods of interest account and their basic applications in practice. Recognize the rules of derivative to allow us to compute derivatives more efficiently. Logically formulate mathematical variables and equations to quantitatively create mathematical models representing problems in everyday life, as well as business, so that calculus can be applied to achieve an optimal solution. Understand the concept of marginal analysis to compute marginal cost function, marginal profit function and marginal profit function. Investigate the business optimization problems to solve the method algebra and the also the method of calculus. Course Content Mathematical Review: Ratio, rate and proportions, decimals, fractions and percentages. Mathematics of Finance: Profit, discount, markup and markdown, commission, simple and compound interest, appreciation, depreciation and inflation. Solving systems of equations and inequalities: Solving system of equations in one variable, straight line graphs, solving system of equations in two variables, solving system of inequalities in one and two variables. Linear programming: A linear programming problem and applications of linear programming in Business. Differentiation: The derivative of function, product rule, chain rule and quotient rule. Application of calculus to Business: Concavity and points of inflexion, curve sketching, marginal analysis and optimization problems. Learning & Teaching Lectures based on Students Module Methodologies Class Activities Homework Exercises Use of available software. Instructional Presentation equipment, including projectors. Materials/Equipment Any mathematics tools. Course Assessment Type Weighting (%) Final Examination 60 Mid-term Examination 20 Assignment 10 Attendance 10 Total 100 Recommended Title Author Publisher textbooks Business and Personal Mary Hansen ROUTLEDGE finance Math, 3rd Publishers Edition Additional Reading Calculus for Business, Gerald Bradley WILEY Economics and the Social and the Life Sciences, 10th Edition Other Support A variety of multimedia systems and electronic information resources Material as prescribed by the lecturer. Various application manuals, URL search and journals.