After completing this course,  students should have the basic mathematical knowledge that is required to describe and interpret models used in business-related careers. They will master essential elements of mathematical language and how to communicate mathematics on different levels.

Lecture

Basic mathematical terms for economicsEssentials of Logic and Set Theory (Sections 1.1-1.3)Algebra: Summation Notation (Sections 2.9-2.12)Functions of One Variable (Ch. 4)Properties of Functions (Ch. 5)Differentiation (Ch. 6)Derivatives in Use (Sections 7.1-7.4; 7.6-7.9)Optimization (Ch. 9)Geometric Series (Section 11.4)Matrix Algebra (Sections 12.1-12.7 plus, if time allows, 12.8-12.10)Functions of Many Variables (Sections 14.1-14.5)Partial Derivatives in Use (Differentials, Systems of Equations) (Sections 15.9-15.10) (if time allows)Unconstrained Optimization (Sections 17.1-17.2 plus, if time allows, 17.3-17.5)Equality Constraints (Ch. 18)Linear Programming (Ch. 19) (if time allows)Chapter and section numbers refer to the 6th edition of the textbook mentioned below.

High school mathematics. Attending the optional "Bridging Course: Mathematics (311.949)" is recommended.

None

Sydsaeter, Knut ; Hammond, Peter ; Strom, Arne ; Carvajal, Andrés, Essential Mathematics for Economic Analysis, Harlow: Pearson Education, 6th edition, 2022, https://elibrary.pearson.de/book/99.150005/9781292359298 (the library has a license for the e-book, accessible from within the university or via the library proxy).

The exam will be held in-person as a written exam in the secure exam environment (SPU).You may use:Collection of formulae provided in Moodle (PDF file provided during the exam)Calculator provided in SPUPen and blank paper (bring your own)No other devices, tools, materials, nor any form of communication with others are allowed.

The exam will be based on the contents of the lectures of the course. It will consist of questions asking for definitions, for results as well as practical problems. There will be multiple choice questions, questions where students are expected to enter their results as well as questions where students are expected to write their full answer into Moodle.

Marks and results:Grade 5:  Less than 50% (fail).Grade 4:  Between 50% and 62.5%.Grade 3:  Between 62.5% and 75%.Grade 2:  Between 75% and 87.5%.Grade 1:  Above 87.5% (pass with distinction).