All programmes > Mathematics for Business A (B)

Mathematics for Business A (B) (B-KUL-HSA21A)

3 ECTSEnglish42 First term
Moons Theo (coordinator) |  Moons Theo
OC Business Administration FEB Campus Brussel

Aims

In Mathematics for Business A (B) you expand your mathematical knowledge. You learn how to use mathematical concepts and methods in economic applications. The confrontation with the mathematical way of thinking sharpens your critical sense and problem solving abilities.

In this course, the following key objectives are realized:

The student …

3.h. Defines, explains and uses, both graphically and model-based, macro- and micro-economic concepts.

  • Defines, explains and uses, both graphically and in a model-based way, a number of economic concepts like marginality and optimization, from a mathematical point of view. 

5.a  Uses static and dynamic models, graphically and algebraically, to analyse and solve (business) economic problems

  • Has knowledge of and insight into functions of one and several variables and uses these to analyse and solve (business) economic problems, both graphically and algebraically.

8.d  Sets forth a logical and coherent argumentation to support choices made when solving a (business) economic problem with practical relevance.

  • Works out a logical and coherent argumentation to support the chosen mathematical technique when solving a (business) economic problem.

11.g.  Is familiar with relevant ICT applications and uses the knowledge and skills to solve (business) economic problems.

  • Is familiar with relevant ICT applications for the mathematical techniques used.

 

The position of the course in the framework of the learning objectives of the programme can be found under the section “Objectives” of the “Bachelor Business Administration (Brussels)”.

 

 

 

Previous knowledge

The student must have algebraic skills (including doing calculations with fractions and exponents, calculations with letters, solving linear and quadratic equations and inequalities, graphical representations of linear and quadratic functions, exponential and logarithmic functions, elementary plane analytic geometry). The student also needs to have a logical and abstract reasoning ability.

Before the start of the academic year a refresher course is organized regarding the algebraic skills mentioned above.

Identical courses

This course is identical to the following courses:
D0X44A : Wiskunde voor bedrijfswetenschappen A
Y05157 : Wiskunde voor bedrijfswetenschappen A (S)
HSH96A : Wiskunde voor bedrijfswetenschappen A (S)
HTH92A : Wiskunde voor bedrijfswetenschappen A (BL)

Is included in these courses of study

Activities

3 ects. Mathematics for Business A (B) (B-KUL-HSA21a)

3 ECTSEnglishFormat: Lecture42 First term
Moons Theo
OC Business Administration FEB Campus Brussel

Content

1. Generalities related to real-valued functions of one or several real variables

  • Function concept
  • Domain
  • Graph
  • Level sets and contour map
  • Sign diagram
  • Implicitly defined function

 

2. Special classes of functions

  • Linear functions of one and of several variables
  • Quadratic functions of one and of two variables
  • Polynomial functions of higher degree in one variable
  • Exponential functions
  • Logarithmic functions

 

3. Derivatives and partial derivatives of a real-valued function of one or several variables

  • Derivatives of a univariate function (with applications to curve sketching and economic applications)
  • (First and higher order) partial derivatives of a multivariate function
  • Differential
  • Rules of differentiation
  • Implicit differentiation
  • Taylor expansion

 

4. Optimization of real-valued functions

  • Single-variable optimization (unconstrained and constrained optimization, economic applications).
  • Multivariable optimization (unconstrained optimization, economic applications).

 

Course material

Mandatory study material

          Digital study material on Toledo

 

Optional study material

          Sydsæter, K., Hammond, P., Strøm, A., & Carvajal, A.,

                 Essential Mathematics for Economic Analysis (5th edition),

                 Pearson, 2017

                 paperback:  ISBN  9781292074610

                 e-book:  ISBN  9781292074702

Format: more information

Different teaching methods are used. First, there are lectures in which the important notions, concepts and methods of the course content are explained and illustrated by means of examples and applications. Mathematical reasoning skills and problem solving strategies are developed in an interactive manner through discussions on sample problems. The lectures are complemented by knowledge clips retaking important notions and concepts and illustrating further the methods by reflecting on and elaborating key examples and applications. The course content of the lectures is practiced in tutorial sessions in which the students do review exercises and solve word problems under the lecturer's guidance. Additional exercises and problems to continue practicing at home will be provided as well.

 

Evaluation

Evaluation: Mathematics for Business A (B) (B-KUL-H75153)

Type : Exam during the examination period
Description of evaluation : Oral, Written
Type of questions : Open questions
Learning material : Calculator, Computer

Explanation


Evaluation caracteristics

The students are evaluated on the basis of an exam which is partly oral preceded by a written preparation and partly written. The students are asked to write down their answers completely. Additionally, they may comment orally to specific parts of their answers. It is possible that the examiner asks for more information, varies the question, or addresses an additional question.

The exam mainly consists of exercises similar to those of the textbook and the online content and those dealt with in the lectures and in the tutorials. It is important to notice that the exercises' level of difficulty on the exam will be higher than those made in the lectures and during the tutorials and than the average level of the exercises in the textbook and online content. At the beginning of the learning process rather easy exercises will be done compared to those of the exam. Students are expected to have a thorough command of theory although only few theoretical questions will be asked. A good insight into the concepts and methods dealt with is essential in order to do the exercises at the exam.

Students are allowed to use the computer software VisuMath and Excel, as well as a graphical calculator (equivalent to TI-84 Plus CE-T of Texas Instruments). A more advanced calculator (e.g. a calculator being able to do symbolic calculations) or software is admitted and may be used to check results. However, the solutions presented to the examiner should not be based on the more advanced functions of such a calculator or software.

 

Second exam opportunity

The features of the evaluation and determination of grades are identical to those of the first examination opportunity, as described above.

Information about retaking exams

The features of the evaluation and determination of grades are identical to those of the first examination opportunity.