EASTERN MEDITERRANEAN UNIVERSITY
FACULTY OF ARTS AND SCIENCES
DEPARTMENT OF MATHEMATICS
2014-2015 FALL SEMESTER
COURSE CODE
MATH104
COURSE TITLE
Mathematics for Business and Economics II
COURSE TYPE
University Core (UC)
LECTURER(S)
Yücel Tandoğdu (Office AS252, Extension: 1004). Grps. 1, 2
Övgü Ç. İyikal (Office AS118, Extension: 2281). Grp. 3
ASSISTANT
Hamid M. Sadeghi (Office AS 301, Extension 2875)
EMU CREDITS
(3,1,0) 3
ECTS CREDITS
6
PREREQUISITES
MATH103
COREQUISITES
None
WEB LINK
http://brahms.emu.edu.tr/tandogdu
TEXTBOOK
Introductory Mathematical Analysis for Business, Economics, and the Life
and Social Sciences. Ernest F. Haeussler, Jr., Richard S. Paul. Prentice
Hall.
OTHER REFERENCES
Applied Mathematics for Business, Economics and the Social Sciences.
Fourth Edition, Frank S. Budnick. McGraw Hill.
TIME TABLE
Gr. 1: TUESDAY 14.30 – 16.20, CL209; THURSDAY 13.30 –14.20 CL209.
Gr. 2: WEDNESDAY 14.30 – 15.20, CL203; FIDAY 08.30 – 10.20, CL203.
Gr. 3: WEDNESDAY 14.30 – 15.20, CL202; FIDAY 08.30 – 10.20, CL202.
Tutorial: Gr.1: Thursday 12.30 – 13.20; Gr.2: Wednesday 15.30 – 16.20.
Gr.3: Friday 9.30 – 10.20
OFFICE HOUR
Wednesday: Grps 1,2: 09.00 – 10.00, Friday: 10.00 -11.00. Grp. 3. Friday
10.30 – 11.30.
AIMS & OBJECTIVES
The main objective of the course is to provide the mathematical background
needed for the solution of business and economics problems. Subjects are
supported by some selected real life application problems.
CATALOGUE DESCRIPTION Matrices and determinants; Applications. Solution of systems of linear
equations; Inverse matrix method, Cramer's rule. Rate of change.
Derivatives. Higher order derivatives. Curve sketching. Optimization.
Revenue, cost, profit applications. Cost-benefit analysis. Functions of
several variables. Partial derivatives. Applications. Lagrange multipliers.
Integrals. Definite Integrals. Areas, Applications.
GRADING CRITERIA
Mid Term: %35, Quizzes: %20, Final: %45.
METHOD OF ASSESSMENT
85–100 (A); 80–84 (A-); 75–79 (B+); 70–74 (B); 66–69 (B-);
63–65 (C+); 60–62 (C); 57–59 (C-); 54–56 (D+); 50–53 (D);
45–49 (D- /FAIL); 0-44 (F/FAIL). Based on the general performance some of
these limits may change.
TEACHING METHOD
Lectures, tutorials and assignments.
RELATION TO OTHER COURSES It forms the foundation needed for other courses such as Statistics,
Econometrics, Quantitative Methods.
GENERAL LEARNING OUTCOMES
On successful completion of this course, all students will have developed knowledge and understanding of:
 Matrices, limits, derivatives, partial derivatives
 Minima maxima problems, elasticity concept, integration.
On successful completion of this course, all students will have developed their skills in:
 Solving linear programming problems, marginal revenue and cost problems.
 Solving consumer and producer surplus problems,
 Solving optimization problems.
On successful completion of this course, all students will have developed their appreciation of and respect for
values and attitudes regarding the issues of:
 How to handle business and economic problems mathematically,
 Methodological approach for solving problems,
 Awareness of mathematical planning and solving a problem.
COURSE OUTLINE
Week start
Vectors and Matrices
Matrix Addition and Scalar Multiplication
Matrix Multiplication
Determinants
20/10/2014
Cramer’s Rule
Inverse of a matrix. Applications
Limits
27/10/2014
Continuity
The Derivative
03/11/2014
Rules for Differentiation
The Derivatives as a Rate of Change
Product and Quotient Rule
The Chain Rule. Quiz#1
Derivatives of Logarithmic Functions
10/11/2014
Derivatives of Exponential Functions
Higher – Order Derivatives
First derivative test. Relative Extrema
17/11/2014
Absolute Extrema on a Closed Interval
Concavity, curve sketching
24/11/2014
The Second Derivative Test
Applied Maxima and Minima. Elasticity of Demand
Midterm Examinations Period: 28/11 – 09/12 2014.
Functions of several variables and partial derivatives
10/12/2014
Applications of Partial derivatives.
Higher – Order Partial Derivaties
15/12/2014
Maxima and Minima for Functions of Two Variables. Quiz#2
Optimization using Lagrange Method.
22/12/2014
The Indefinite Integral
29/12/2014
Integration with Initial Conditions
The Definite Integral
05/01/2015
Area under and between curves. Consumer’s Surplus and Producer’s Surplus
12/01/2015
Final Examination Period: 19–31 Jan. 2015
Last day for course add/drop: 27.09.14, Last day for course withdraw: 26.12.14
Application for resit exams.11-13 Feb. 15. Resit exam period. 18-25 Feb.
13/10 /2014
ACADEMIC HONESTY
Copying from others or providing answers or information (written or oral) to others is cheating. Copying from another student’s paper or
from another text without written acknowledgement is plagiarism. According to University’s bylaws cheating and plagiarism are serious
offences resulting in a failure from exam or project and disciplinary action (which includes an official warning or/and suspension from the
university for up to one semester).
IMPORTANT NOTES
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Attendance is compulsory. Any student who has poor attendance and/or misses an examination without providing valid excuse
will be given NG grade.
Students missing an examination should provide a valid excuse within three days following the examination they missed.
One make-up examination will be given for midterm. Re-sit exam is only for those who missed the final exam.
No make-up will be given for missed quizzes.
Use of Mobile phones in the class is prohibited.