Module Catalogues, Xi'an Jiaotong-Liverpool University   
 
Module Code: ECO118
Module Title: Maths for Economics and Business
Module Level: Level 1
Module Credits: 5.00
Academic Year: 2017/18
Semester: SEM2
Originating Department: International Business School
Pre-requisites: N/A
   
Aims
This module introduces students to the application of mathematics to economics, management and accounting. The material will show how mathematical methods can be applied to problems in market analysis, compound interest, investment appraisal and agent optimisation (eg consumer utility maximisation and firm profit maximisation). The module design takes account of students' differing mathematical backgrounds in conjunction with the need to prepare all students for second and third year courses.
Learning outcomes 
Having passed this module, students should: have a good grasp of basic mathematical techniques in the study of supply and demand curves;

be familiar with the basic techniques of calculus and their applications to economics: the analysis of profit, revenue etc;

have a working knowledge of the basic mathematics of finances.
Method of teaching and learning 
This module will be delivered by a combination of lectures and tutorials. Lectures will be designed to provide essential information and introduce students to the basic tools and concepts of analysis. Tutorials will provide students with the opportunity to further develop their skills through the solution of various problems.
Syllabus 
1 .Introduction. Review of fractions and percentages


2.Linear functions - graphs, simultaneous equations, supply and demand analysis


3.Non-linear functions - quadratic and polynomial functions, exponents, the exponential and logarithmic functions with economic applications


4.Mathematics of finance - geometric series, interest, growth, compounding, discounting and present value


5.Differentiation - rules for differentiation


6.Application of differentiation to economics - marginal analysis and elasticity


7.Optimization (unconstrained) - maxima and minima, minimizing costs, maximizing revenue and maximizing profit


8.Partial differentiation - differentiating functions with at least two independent variables, partial elasticities


9. Unconstrained and constrained optimization

Delivery Hours  
Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total
Hours/Semester 26    12      112  150 

Assessment

Sequence Method % of Final Mark
1 Midterm Exam 35.00
2 Final Exam 50.00
3 In-Class Assessment 15.00

Module Catalogue generated from SITS CUT-OFF: 10/22/2017 10:38:21 AM