Quantitative Methods for Business I
ECON-2070
Pre-Summer 2013
Instructor:
Dr. Jafar Alavi, Professor of Economics and Larry Trung La Faculty Fellow
Office: Room 340 Sam Wilson Hall
Tel: 423-439-4455
E-mail: drjalavi@etsu.edu
Prerequisite: Math 1530 (Probability and Statistics) or equivalent
I.
Objective and Brief Description:
The objective of this course is to acquaint the business students with the terms and quantitative
methods used to describe business and economic data. This course will provide some of the
necessary quantitative tools needed by our students to further study in the business related fields.
This is the first course in a two-course sequence, which places emphasis on the quantitative
methods for the analysis of business and economic data. The course is divided into three
sections. The first section concentrates on review of algebra and some simple linear models.
The second section deals with functions, where we discuss among the topics, special functions
such as Quadratic and Polynominal functions. We will also have a brief introduction of calculus,
where we discuss limits, derivatives and derivatives rules. In the last section of this course we
cover application of derivative including topics on increasing and decreasing, relative and
absolute extrema, and second derivative.
Learning Outcomes:
Upon the completion of this course (Econ 2070: Quantitative Methods for Business I),
students should be:
 Able to understand basic mathematical concepts such as exponents, roots,
factoring, solving equations, and solving inequalities.
 Able to apply mathematical and algebraic concepts such as linear and quadratic
functions to business and economic problems.
 Able to apply the Gauss-Jordan method to solve linear systems of business and
economic problems such as investments and scheduling.
 Able to apply simple calculus concepts such as limits and derivatives to business
and economic problems.
 Able to translate real-life business problems to appropriate mathematical formats
for analysis and problem solving.
 Able to understand optimization problems (i.e., maximization, or minimization)
as it applies to revenue, cost, and profit and other economic concepts.
II.
Required Textbook:
Tan, Applied Mathematics for The Managerial, Life, and Social Sciences, 5th ed. Thomson
Brooks/Cole, Cengage, 2010. ISBN: 978-0-495-56002-9

Students have several options:
Option #1: Purchase the custom package of the book w/ Enhanced Web Assign access from the
bookstore.
Option #2: Purchase the Enhanced Web Assign code w/ eBook option from the bookstore.
Option #3: Purchase the Enhanced Web Assign code w/ eBook option direct from publisher’s
website: www.cengagebrain.com. ISBN: 0-538-73810-3. The cost is $65 + Tax.
Option # 4: Purchase the Enhanced Web Assign code w/ eBook option direct from
website: www.Webassign.com. ISBN: 0-538-73810-3. The cost is $75 + Tax.
III.
To Enroll into Webassign:
(See attached document on student registration instructions)
Log into: http://www.webassign.net/ >> Click on I Have a Class Key >> Enter
class key: etsu 4166 6107>> Submit
I will use webassign for assignments. You will have several days to finish the homework from
each section. I will not open these exercises after its due day.
Don’t wait until the last minutes to do the homework; start early so there is time to have your
questions answered. You have several resources available to you in this course.
IV.
Homework Problems:
After each section a set of problems will be assigned as homework. Students should log
into www.webassign.net for the list of homework assignments. Please not that each
homework assignment will have a due date. Your grade on the homework assignments
will count as twenty (25) percent of your final grade.
IV.
Examinations:
Three in class examinations are schedules for this course (see the Tentative Syllabus).
Each examination counts as 25 percent of your final grade. Your exams should be
complete with all the steps you had to take in solving each problem.
V.
Make-up Examinations:
Make-up exams will only be given in extreme case of emergency. If you have to be
absent from a regularly scheduled exam due to illness or other emergencies you need to
make arrangements for a make-up exam in advance. If you cannot, contact me or call the
secretary (439-4202) and leave a message.
VI.
Grading:
The tentative breakdowns for final grades are as follows:
A
AB+
B
B-
92 – 100
90 – 91.9
88 – 89.9
82 – 87.9
80-81.9
C+
C
CD+
D
F
78 – 79.9
72 – 77.9
70 – 71.9
68 – 69.9
60 – 67.9
Below 60
Class participation is encouraged since it might affect your final grade if it is on
borderline.
VII.
Course and Classroom Policies:
a. You are expected to attend all class meetings, to arrive on time, and remain until the
end of the class meeting.
b. You are expected to come to each class prepared.
c. Your final grade is comprised of: your three exams, homework, and class
participation. There are no other ways of earning or improving your grade.
d. Academic misconduct will not be tolerated. Incidents of alleged plagiarism or
cheating will be prosecuted in accordance with applicable College of Business and
University Policies.
e. The grade of “incomplete” is given only when a student is unable to complete the
course for nonacademic reasons. The grade of “incomplete” will not be assigned to
improve your grade.
f. Refrain from engaging in personal conversations during the class period.
g. Please turn off your cell phones.
TENTATIVE SYLLABUS
Chapter/Section
Topic
1
Review
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
Real Numbers
Polynomials
Factoring Polynomials
Rational Expressions
Integral Exponents
Solving Equations
Rational Exponents and Radicals
Quadratic Equations
Inequalities and Absolute Value
2
Functions and Their Graphs
2.1
2.2
2.3
2.4
2.5
2.6
2.7
The Cartesian coordinate system and Straight Lines
Equations of Lines
Functions and Their Graphs
The Algebra of Functions
Linear functions
Quadratic Functions
Functions and Mathematical Models
5
Systems of Linear Equations and Matrices
5.1
5.2
Systems of Linear Equations: An Introduction
Systems of Linear Equations: Unique Solutions
9
The Derivative
9.1
9.3
9.4
9.5
9.6
9.8
Limits
The Derivative
Basic Rules of Differentiation
The Product and Quotient Rules; Higher Order Derivatives
The Chain Rule
Marginal Functions in Economics