Introduction to Mathematics
Study Board of BSc in Economics and Business Administration
Teaching language: English
EKA: B220014402
Censorship: Second examiner: None
Grading: 7-point grading scale
Offered in: Soenderborg
Offered in: Autumn
Level: Bachelor
Course ID: B220014401
ECTS value: 5
Date of Approval: 20-04-2023
Duration: 1 semester
Course ID
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Recommended prerequisites
Aim and purpose
The objective of this course is to provide the student with skills in using tools for mathematics for solving problems within the area of business administration. The objective is also to give the student an understanding of the interaction between mathematical methods and economic problems.
The course thus provides tools that are used in other subjects, for example Corporate Finance, Microeconomics, and Statistics. This course provides the student with skills within functional analysis in particular, which is used e.g. investment theory, finance and macroeconomics. The course also provides a brief introduction to matrix algebra. Calculus is used to deduce and calculate elasticity of supply and demand, and to calculate profits and losses in trade, while optimization and equation systems are used in the planning of production and the planning of a company's marketing efforts. Matrix algebra is used to solve equation systems with multiple unknowns. Such systems are seen, for example, in statistical analyses and in models for economic planning. Finally, an introduction to integral theory is provided. Integral methodology is particularly used in Investment and Corporate Finance and Trade theory in order to find the gains from trade.
Content
The following topics are addressed in order to achieve the objectives of the course.
Functions of several variables
- Partial differentiation
- Implicit differentiation
Optimisation of functions that are relevant in economics
- Primary and secondary conditions for maxima and minima
- Optimization with and without constraints with economically motivated example
- Geometric interpretation of functions
Integration
- Calculation rules for integrals
- Rules for exponential and power functions
- Interpretation of integrals
Introduction to algebra
- Setting up systems of equations using matrix forms
- Solutions of systems of equations using matrix forms
- Inupt-output systems
Learning goals
In order to achieve the learning goals, the student should be able to demonstrate knowledge about the course topics and concepts of the course, and ability to select and apply the relevant methods relative to a simple analysis of issues related to business and economics.
Description of outcome - Knowledge
- to apply differential calculus for function of several variables, optimization, methods in nitration or matrix algebra in order to solve mathematical issues within the fields of business and economics.
Description of outcome - Skills
- to perform partial differentiation and implicit differentation of functions of several variables
- to perform optimization og functional forms relevant in business and economics including first and second order conditions for maxima and minima
- to perform optimization under restrictions with applications from business and economics
- to perform calculus rules for integrals including calculus rules for exponential and power functions and to be able to interpret integrals in relation to areas for example related to consumers and producers surplus
to use algebra in order to solve systems of equations including input-output systems
Description of outcome - Competences
- to identify the correct mathematical method in order to solve a given issue within business and economics
- to evaluate if the archived mathematical result is correct in perspective to the issue addressed
Literature
Ian Jacques, Mathematics for Economics and Business, Special edition compiled by Nils Karl Sørensen SDU Denmark, Pearson.
Supplementary notes.
Teaching Method
The students acquire knowledge of the subject area through independent literature studies supported by lecture sessions aiming to provide an overview of the area and links between different parts of the subject. The lectures are also used to enhance the textbook explanations of particularly difficult topics.
The students develop skills in applying the scientific methods used in the field by working with assignments in the subject. This process is facilitated by exercise sessions enabling students to debate issues when solving assigned problems and get feedback on their own work.
Workload
Scheduled classes:
2 lectures and 1 exercise session per week for 15 weeks. The exercises may be planned as 2 exercise sessions every second week.
Workload:
Students will be required to do 125 hours of work, which is expected to be spent as follows:
Students will be required to do 125 hours of work, which is expected to be spent as follows:
Lectures: 30 hours
Exercise sessions: 15 hours
Preparations for exercise sessions and lectures 45 hours
Preparations for examination: 32 hours
Written examination: 3 hours.
Examination regulations
Exam
Name
Exam
Timing
Exam: January.
Reexam: February.
Tests
Exam
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Exam
Form of examination
Written examination on premises
Censorship
Second examiner: None
Grading
7-point grading scale
Identification
Student Identification Card - Exam number
Language
English
Duration
3 hours written exam.
Length
No limit.
Examination aids
All examination aids are allowed.
However with the following exceptions:
The internet may only be used to access digital exam in order to access and download the exam questions, to retrieve and download the handed-out word-template and to hand-in your exam paper.
Aside from this the internet may not be used during the examination.
It is only allowed to work in the Word-template. The exam paper must be handed-in in PDF-format. The PDF file must be converted from the Word-template.
The exam paper will be rejected, and as a follow not graded, if not handed-in in PDF-format.
It is allowed to bring a pocket calculator. The pocket calculator may not be connected to the computer. It is not allowed to use the built-in pocket calculator in the computer.
It is not allowed to bring IPads/tablets/smartphones.
It is not allowed to communicate with others.
The exam paper may be written by hand, and then photographed by use of a digital camera. The digital memory in the camera must be empty when starting the exam. Use of the computer camera is allowed. The files of the photo images must transferred to the Word-template and handed-in in PDF-format.
Assignment handover
Digital hand-out via "Digital Exam".
Assignment handin
Only digital submission via "Digital Exam".
ECTS value
5
Additional information
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EKA
B220014402
External comment
NOTE - This course is identical with the former courses
83303x01 / Odense: 83303301 Sønderborg: 83303501 Supplementary course in Mathematics.
Odense: B220014101 Introduction to Mathematics.
Used examination attempts in the former identical course will be transferred.
Courses that are identical with former courses that are passed according to applied rules cannot be retaken.