SCHOOL OF BUSINESS, ECONOMICS AND MANAGEMENT
BBA 120- BUSINESS MATHEMATICS
Course Outline
OBJECTIVE
The course aims to provide an introduction to mathematical concepts and lay down a foundation for
applications of basic tools and techniques for various areas of business such as economics,
accountancy and the life and social sciences. It begins with non calculations topics as Basic
mathematics, equations, functions, matrix algebra, mathematics of finance etc. Then it progress
through both single-variable and multi-variable calculus. An abundance and variety of applications
appear throughout the course. Students continually see how the mathematics they are learning can be
applied to practical business problems. These applications over such diverse areas as business,
economics, sociology, finance etc.
CONTENT
1.0
2.0
SET OPERATIONS
EQUATIONS AND INEQUALITIES
Operations expressions, factorizing, fractions, linear equations, quadratic equations. Linear
inequalities, non-linear equations, absolute value, applications of equations and inequations.
3.0
FUNCTIONS AND GRAPHS
Definition of a function, special functions, combination of function, plotting functions in
rectangular co-ordinates, inverse functions, transformations.
4.0
TYPES OF FUNCTIONS
4.1
The Straight line and Applications
Demand, Supply, Cost, Revenue, Translations, Elasticity Of Demand, Supply And Income
Budgeters And Cost Constraints.
4.2
Simultaneous Equations
Solving simultaneous linear and non-linear equations, equilibrium and break-even, consumer
and producer surplus. .
4.3
Non-Linear functions and Applications
Quadratic, cubic and other polynomial function, exponential function, logarithmic functions,
hyperbolic functions.
5.0
MATHEMATIC OF FINANCE
Simple Interest And Simple Discount, Compound Interest And Compound Discount,
Sequences,
6.0
MATRIX ALGEBRA
Definition, matrices as stores of data, organizing and handling business data, matrix addition,
subtraction, scalar multiplication, matrix multiplication, method of reduction, inverse,
determinant, Cramer’s rule, inverse using the adjoint,
7.0
CALCULUS
7.1.
Limits and Continuity
Limits, continuity of a function of one variable, economic applications of continuous
function, intermediate value theorem.
7.2.
Differentiation
The derivative, rules for differentiation, the derivative as a rate of change, differentiability
and continuity, product and quotient rules, the chain rule and power rule, derivative of
logarithmic functions, derivatives
of exponential functions, implicit differentiation,
logarithmic differentiation, higher-order derivatives.
7.3.
Differentiation and Applications
Slope of a curve, marginal function, average functions, optimization for functions of one
variables, elasticity and the derivative etc.
7.4.
.Integration and Application
The indefinite integral, integration with initial, conditions, techniques of integration, the
definite integral, the fundamental theories of integral calculus, areas, area between two
curves, the consumer’s surplus (CS) and producer’s surplus, integration by parts,
GRADING
The course grade will be determined approximately as follows:40% from tests and assignments (continuous assessment) 60% from the final comprehensive
Examination.
RECOMMENDED TEXTBOOKS.
1.
Introductory Mathematical Analysis for Business, Economics, and the Life and Social
Sciences, Ernest F Haeussler, Jr, Richard S Paul.
2.
Mathematics for Economics and Finance Methods and Modeling, Martin Anthony and
Norman Biggs.
3.
Essential mathematics for Economics and Business, Teresa Bradey and Paul Patton.
4.
Calculus for Business and Economics, Tailoka F P
5.
Mathematical Analysis for Business, Economics, and the Life and Social Sciences,
Jagdish C Arya and Robin W Lardner.
6.
Essential Mathematics for Economics, 2nd Edition, J Black and J F Bradley.