Mathematics for Business

The course treats basic mathematical concepts and methods of analysis and supports the appropriation of mathematical representations in other parts of the study programme.

The following themes will be treated:

• Elementary algebra (including solving equations and systems of equations)
• Functions of one variable (including polynomial functions, rational functions, exponential functions, logarithmic functions and compound functions)
• Differentiation and application of differentiation. Problems related to maximum and minimum
• Implicit differentiation and elasticities
• Sequences, series and sums (including arithmetical series, geometric series, infinite series and convergence)
• Finance mathematics (including savings, present value, loan, annuities)
• Integration (only for simple polynomial- and natural exponential functions)
• Functions of several variables (including Cobb-Douglas functions)
• Partial differentiation. Problems related to maximum and minimum for functions of several variables
• Lagranges method

Knowledge: The student

• knows and understands basic mathematical concepts
• knows and understands mathematical analysis of functions
• knows and understands mathematical modelling

Skills: The student

• masters a wide range of algebraic operations
• is able to analyze different types of mathematical functions
• is able to use mathematics and mathematical models to analyze economic problems

General competence: The student

• has developed an ability for logical thinking
• has a understanding of the possibilities of mathematics and its limitations as a tool in economic problems

Lectures and exercises. Assignments must be passed to gain entry to the exam. Lecture videos will be available on the learning platform. Guidance will be provided digitally using video conferencing tools. Mandatory attendance is required at two digital information meetings: one at the start of the semester in week 34 and one in the middle of the semester in week 42.