Basics of mathematics in business 2600-DSMz1PMB
Mathematical description of economic phenomena.
Detailed content:
1. Summation : the sign of a sum and its properties;
2. Continuity
- Convergence (determination of proper and improper limits at a point and infinity);
- Rate of change: derivatives of functions.
3. Optimization
- Local and global extremes of functions of one variable;
- Local extremes of functions of many variables.
4. Mathematical foundations of marginal analysis
- Marginal values (cost, marginal utility, marginal profit);
- elasticity of functions of one variable.
5. Integrals, geometric and economic interpretation. Measures of area.
6. Linear multivariate models.
- Matrices and their use in management,
- operations on matrices matrix calculus,
- Linear models of economic problems (e.g. market equilibrium model): systems of linear equations and their solution.
Type of course
Mode
Course coordinators
Learning outcomes
After completing the course the student will:
Knowledge:
Has knowledge of economic and financial theory in terms of the mathematical basis of the models used in these fields.
Skills:
Is able to apply quantitative methods to describe and analyze economic phenomena in order to make optimal decisions
Social Competence:
Is ready to critically evaluate the knowledge possessed in
mathematical basis of economic models.
Assessment criteria
Attendance and active participation in classes.
Learning outcomes are assessed on a continuous basis, current preparation for classes and activity in class are evaluated. During the semester students write stationary two colloquia.
The pass mark for two tests is 60% of the maximum number of points.
In the case of remote teaching colloquia will be held remotely.
Bibliography
Basic
Ostoja-Ostaszewski A., Matematyka w ekonomii. Modele i metody T. 1 i 2, PWN 2006
Supplementary:
Piasecki K., Anholcer M., Echaust K., e-Matematyka wspomagająca ekonomię, C. H. Beck 2006.
Bażańska T., Nykowska M., Matematyka w zadaniach dla wyższych zawodowych uczelni ekonomicznych, Oficyna Wydawnicza Branta,
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: