Lilongwe University of Agriculture and Natural Resources
Department of Agribusiness Management
Syllabus for Mathematics for Business and Finance
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PROGRAMME
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BSc in Agribusiness Management
PRESENTED TO
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Senate
PRESENTED BY
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Department of Agribusiness Management
SUBJECT
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Mathematics for Business and Finance
YEAR/LEVEL OF STUDY
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1
MODULE TITLE
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Mathematics for Business and Finance
COURSE CODE
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ABM31201
DURATION
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13 Weeks
LECTURES HOURS PER WEEK :
2
TUTORIAL HOURS PER WEEK
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3
PRACTICAL HOURS PER WEEK :
0
STUDENT INDEPENDENT LEARNING HOURS PER WEEK :
0
TOTAL MODULE CREDITS
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3.5
PREREQUISITE MODULES
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None
COREQUISITE MODULE
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None
DELIVERY METHODS
16.1 Mode of Delivery
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Face-to-face and ODeL
16.2 Teaching methods
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Lectures
16.3 Assessment weighting
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60% End of Semester Examination and
40% Continuous Assessment
AIM(S) OF THE COURSE
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LEARNING OUTCOMES
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By the end of this course students should be able to:
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Solve and demonstrate use of business functions and equations
Describe and use matrices to solve business and finance problems.
Use linear programming techniques to optimise solution.
Describe and apply financial mathematical techniques.
Compute and apply index numbers.
Use spreadsheets for business assignments.
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TOPICS OF STUDY
1. Business Functions and Equations
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Linear Functions and Equations in two and three variables: Graphical and
analytical (Substitution and Gaussian Elimination) solutions.
Quadratic Functions and Equations: Graphical and algebraic (Completing the
square and use of Formula) solutions.
Cubic functions and Equations
Differentiation and Integration Concepts and their use/application in Quadratic and
Cubic Function and Equations.
2. Matrices
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Matrix Structure: Definition and Description of Matrix; Types of Matrices.
Matrix Operations: Transposition, Addition, Subtraction and Multiplication of
Matrices
Inverse Matrices
Matrices and Systems of Linear Equations
3. Cost, Revenue and Profit Functions
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Profit Function and Equation
Cost Function and Equation, including Marginal Cost Function
Price Function and Equation
Revenue Function and Equation, including Marginal Revenue Function
4. Financial Mathematics and Performance
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Measures of Performance—Performance Ratios and Financial Ratios
Breakeven Point
Simple Interest
Compound and Continuous Compound Interest
Time Value of Money (Discounting)
Interest and Depreciation
Annuities and Perpetuities: Ordinary and Due Annuities
Loans and Mortgages
Sinking Funds and Saving Funds
Arithmetic and Geometric Progression
Bonds and Shares
Taxes and Insurances
5. Index Numbers
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Index Relatives
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Composite Index Numbers
Special Published Indices
Describing Changes with Index Numbers
6. Business Spreadsheets
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Introduction to Microsoft Excel Spreadsheet
Use of Microsoft Excel in the day to day work of the Business: Budgeting,
Forecasting, Reporting Performance, Variance analysis, What-if Analysis, and
Discounting and Compounding.
Spreadsheet Financial Functions
19.PRACTICAL/LAB TOPICS:
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. • Exercises, Group Discussions and Case Studies
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PRESCRIBED TEXTS
1. Francis Andre (2016), Business Mathematics and Statistics (6th Edition), Cengage
Learning EMEA, United Kingdom
2. Karris S.T (2006), Mathematics for Business, Science and Technology, USA
3. Raymond A. Barnett, Michael R. Ziegler & Karl E. Byleen (2015), College
Mathematics for Business, Economics, Life Sciences and Social Sciences (13th
Edition), Pearson Prentice Hall
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RECOMMENDED TEXTS/READINGS
1. Anderson D.R, Sweeney D.J, Williams T.A, Martin K (2008). Quantitative Methods
for Business (11th Edition), Thomson South Western, Canada
2. James E. Deitz, and James L. Southam (2008). Contemporary Business Mathematics
for Colleges (15th Edition), Cengage Learning
3. Lucey, Terry (2002). Quantitative Techniques (6th Edition), London.
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