Required in stage
Optional in stage
Second term
Both terms
Not organised
This year
Next year
Alternating years
External
Prerequisites
Identical coursesMathematics for Business A (S) (B-KUL-Y05157)
Janssens Dirk (coordinator) | Janssens Dirk | Caluwé Faye (cooperator) Aims
This course evaluates the following learning outcomes:
The student
3.h Defines, explains and uses, both graphically and model-based, macro- and micro-economic concepts.
5.a Uses static and dynamic models, graphically and algebraically, to analyse and solve (business) economic problems.
5.d Uses methods and techniques of operational research to model and solve (business) economic problems.
8.d Sets forth a logical and coherent argumentation to support choices made when solving a (business) economic problem with practical relevance.
11.g Is familiar with relevant ICT applications and uses the knowledge and skills to solve (business) economic problems.
Explanation:
Every student of Business Administration should have an understanding of mathematical concepts and their applications within business economics. In this respect, mathematics is an auxiliary science in the service of other courses. At the same time, mathematics contains a formative component in which the aim is that the student can reason abstractly and critically.
Mathematics, together with other course units, ensures a universal education of the student within an academic programme. A correct use of mathematical language is required, with attention to reasoning skills, study, abstraction and information skills in addition to research competences. The core of mathematical problem-solving activities, in addition to logical reasoning and critical reflection, consists of organizing, structuring, analysing, modeling and synthesizing data. Graphical and model-based algebraic insight into the concepts and the methods used is essential.
At the end of this course, the student is able to solve problems in a structured way. He builds up sufficient mathematical knowledge and competences to find his way in the (business) economics literature, based on an attitude of lifelong learning. Specifically, the following competencies have been acquired.
- The student is familiar with mathematical research methods within the domain of business economics and can use them. In particular, he can analyze micro- and macro-economic concepts graphically and model-based (3.h).
- The student has basic knowledge of and insight into a number of analysis techniques, in particular optimization. He can use static and dynamic models, graphically and algebraically, to analyze and solve (business) economic problems (3.h, 5.a).
- The student can independently construct an argument and develop a logical and coherent argumentation (8.d).
- The student is familiar with relevant ICT applications and the operation of an electronic spreadsheet (MS Excel). He can use this knowledge and skills to solve (business) economic problems (11.g).
Previous knowledge
The student must have algebraic and geometrical skills and insights (e.g. calculating with exponents; calculating with letters; solving polynomial (in)equalities; graphical representation in the field of first and second degree functions; solving (in)equalities with rational forms ; elementary planar analytic geometry; solving simple systems of equations) and logical and abstract reasoning skills.
Before the start of the academic year, a refresher course is organized in connection with the skills mentioned above.
Identical courses
This course is identical to the following courses:
D0X44A : Mathematics for Business A
HSA21A : Mathematics for Business A (B)
HSH96A : Mathematics for Business A (S)
HTH92A : Mathematics for Business A (BL)
Is included in these courses of study
Activities
3 ects. Mathematics for Business A (S) (B-KUL-Y55157)
DutchFormat: Lecture
36 
First termJanssens Dirk | Caluwé Faye (cooperator) Content
This course unit studies real functions in one variable (both for a continuous and for a discrete variable).
Extra attention is paid to graphical representations and (business) economic applications, including supply and demand functions, maximizing tax revenues, the discussion of cost, turnover and profit functions, applications to price elasticity of supply and demand, consumer and producer surplus.
Specifically, the following topics are covered:
Algebraic additions
- Rational and irrational (in)equalities
Real functions in one continuous variable
- Understanding concepts and graphics
- Discussion of relevant functions, including algebraic, exponential, and logarithmic functions
- Distortions of graphs, with applications to supply and demand functions (effect of taxes and subsidies on these functions and their graphs)
- Continuity and limits, asymptotes
- Derivatives, study of the course of a function
- Optimization issues
- Indefinite and definite integrals with area calculations
Economic applications
- Optimal taxation
- Profit maximization, cost minimization, pricing
- Optimal Order Quantity (EOQ)
- Price elasticities
- Consumer and producer surplus
Course material
Compulsory study material: handbook, student manual and material on Toledo / website
Handbook
Verheyen, P., Janssens D. and Caluwé F. (2023). Mathematics with business economic applications, Acco, Leuven.
Exercises and Guided Self-Learning
An extensive 'Student Manual' with detailed examples and exercises is available at the course service.
Toledo is used to make relevant study material available (slides, knowledge clips, solutions of exercises).
In addition to the planned tutorials and independently supervised sessions, extra exercises with solutions and illustration material to support the learning process are available via Toledo.
A number of tools provided by the teaching team (united on a website linked to the handbook) help the students to process some topics from the course unit through guided self-study.
Format: more information
In the lectures the various topics are introduced, discussed in detail and illustrated by means of examples. Attention is paid to the structure and mutual coherence between the various components and to the practical use of the methods presented. The student is expected to cooperate actively, also by preparing and solving assigned tasks at home.
In addition, seminars are organized in line with the lectures, in which even greater emphasis is placed on the practical implementation of the mathematical methods and on their economic applications. The seminars are supplemented with supervised independent sessions in which the student individually or in group goes through examples and exercises and, in case of ambiguities, can direct a question to the tutor present.
Evaluation
Evaluation: Mathematics for Business A (S) (B-KUL-Y75157)
Explanation
The exam essentially consists of exercises. It is important to master the structural structure in order to master these exercises. Occasionally, an exam question can explicitly address this structural structure.
The result is calculated and expressed with an integer on 20.
1st examination period
A written exam is arranged.
3rd examination period
The evaluation characteristics and determination of the final result of the second examination opportunity are identical to those of the first examination opportunity as described above.
Exam contract
The exam is the same as for regular diploma contracts.