ce

INDEPENDENT UNIVERSITY, BANGLADESH Department of Economics School of Business

Semester Autumn 2013 Course Code BUS 202 Course Title Business Mathematics Section 6

Instructor : Tapas Kumar Paul Office : 3001 Phone : 01552 475 309 (not preferred) Email : paulju16@gmail.com; tapaspaul@iub.edu.bd

Class Time: MW: 9:40 - 11:10AM; Class Room: BC 4011 Office Hours: ST: 11:00 - 3:00 PM; MW: 11:00 - 12:00 AM; TR: 9:00 - 12:00 PM (app.) Course Website: www.bus202tapas.blogspot.com Blog: http://tapaspaulecon.blogspot.com

COURSE DESCRIPTION: Business Mathematics is a core subject for the business students. Business mathematics is an important tool for solving the business problems in the area of finance, accounting, economics, production and general management, and sales and marketing. Differential and Integral calculus is used for a wide range of application like optimization, calculation of regular and irregular areas, curve sketching, maximization and minimization problems etc. The objectives of this course are to teach the various tools and techniques so that the students will be able to solve the various real life business problems. This course covers the mathematical processes and techniques currently used in the fields of business and finance. It includes a review of basic business math skills with particular emphasis on linear equations, system of linear equations, determinants, logarithmic and exponentials functions, percentages, interest, discounts, simple interest, compound interest, annuities, sinking fund, amortization, and optimization problems. PREREQUISITE: MAT 101 or Equivalent TEXT BOOK: Earl Bowen, Prichett & Saber, Mathematics with application in Management and Economics, Seventh Edition, IRWIN RECOMMENDED REFERENCE TEXT: Alpha C. Chiang and Kevin Wainwright, Mathematical Economics, Fourth Edition, McGraw Hill Publication, 2005.

COURSE OBJECTIVES: Upon completion of this course, the student will be able to: Learn the mathematical techniques Mastering with how to handle business or economic problem Develop critical thinking and analytical skills used by economists Learn organization of mathematical problems COURSE OUTLINE: This outline represents the order of topics to be covered in this course. However, some topics will receive more attention in lectures than others. Moreover, I have the right to make addition or deletion of topics, if required.
Sl. L01-L04 Topics Linear Equation and Functions: Concept of linear equations, coordinates, independent and dependent variables, slopes, intercepts, parallel and perpendicular lines, revenue cost and profit functions, break-even analysis. Applications problems System of Linear Equations: systems, number of solution possible in a system (single solution. No solution and unlimited solution). Supply and demand analysis. Application problems Matrix Algebra: Matrix and it dimension, column vector and row vector, square matrix, null/zero matrix, commutative and associative law, identity law, matrix addition and subtraction, scalar multiplication, matrix multiplication, identity matrix, minor and cofactors, cofactors and adjoint matrix, inverse matrix, solving linear equations with inverse matrix, Cramers rule for matrix solution. Application problems. Mid Term Exponential and Logarithmic Functions: Exponential functions and its properties, Logarithmic functions and its relationship with exponential functions, conversion to each other, rules of logarithmic functions, use of the rules, natural and common logarithm. Introduction to the Mathematics of Finance: Calculation of future value and present value of the fund, Sinking fund payment, Amortization payment Introduction to differential calculus (The Derivatives): Solving problems using different rules of differential calculus Application of differential calculus (Maxima and Minima): optimization of differential problems (concept of stationary points, local maximum and local minimum, end point maximum and mini mum), finding coordinates of all optimum points using first, second and third derivatives. Application problems. Introduction to Integral calculus with application: Solve problems using different rules of integration, finding area using definite integration, application problems Review Final Exam Text/ Reference Prichett & Saber; Chapter 1

L05-L07

Prichett & Saber; Chapter 2

L08-L11

Chiang & Wainwright; Chapter 4 & 5

L012 L13

Prichett & Saber; Chapter 5

L14 L15-L16

Prichett & Saber; Chapter 6 Prichett & Saber; Chapter 7

L17-L20

Prichett & Saber; Chapter 8

L21-L23 L24 L25

Prichett & Saber; Chapter 10

Additional topic of transcendental functions, radius of curvature, theorem of mean values: Rolls theorem, Maclaurin's Theorem & Taylor's series will be covered (considering available time). 2

COURSE EVALUATION: Type of Evaluation Class Attendance and Participation Weekly Homework Class Test Midterm Exam Final Exam Total Weight 5% 5% 25% 30% 35% 100%

GRADING POLICY: The following scheme should be followed in assigning final grade for the course: Grade A AB+ B BC+ Percentage 90 and above 85 to less than 90 80 to less than 85 75 to less than 80 70 to less than 75 65 to less than 70 Grade C CD+ D F Percentage 60 to less than 65 55 to less than 60 50 to less than 55 45 to less than 50 Less than 45

COURSE POLICY Homework: I will be assigning homework almost every week. Most of the homework will not be graded, but you are strongly encouraged to do it to practice the methods learned in class and to verify your understanding of the material. Some of the homework, usually assigned every other week, will count toward your grade and will need to be turned in typically the second lecture after it was assigned. To encourage you to do all of the homework, I will choose at least one question to be included on each test and exam from the homework assignment (the numbers might be different). You are free to discuss the homework with your classmates, but I strongly encourage you to understand the solution yourself. Do not assume you understand something just because someone told you how to do it. Try to work homework in a group. I suggest you to form a group consist of 3 to 5 students. You do need to turn in your own solution. Remember that no collaboration will be allowed during in-class tests and exams. Please return the homework with your name and the section you are in on the upper right corner of cover page. The homework is due on the due date at the beginning of class. You will receive full credit only on homework returned on time on the due date. You can return the homework up to a week late, but you will receive only half credit for it.

Attendance: You are required to attend all class sessions and actively participate in class discussions. You are also required to come to the class on time and stay for the entire period. I will end the class on time and before that will give you a brief overview. Make up tests (only class test) will be given only if you present written evidence, as soon as possible, that you did (or will have to) miss an exam for a legitimate reason, e.g. illness or family emergency. A note that you have visited hospital is not proof of a legitimate reason. Travel and leisure plans are not a legitimate reason. There will be NO make-up exam for midterm or final. SUGGESTIONS FOR SUCCESS IN THE COURSE: Please come to class prepared. This does not mean you have to understand everything. In fact, if you don't understand something you will have the opportunity to ask about it and we can discuss it in class. Please let me know if you are having trouble with something, and do so before it becomes an issue on a test or exam. Do make use of office hours. Please send an email for appointments. While reading the textbook I strongly encourage you to work in a group through the exercises and examples. This is a very useful way to increase your understanding of the material. After reading something, try to summarize the important concepts. This will help create a mental framework into which to the problems you will be working on. I have setup an anonymous feedback page on the website. Please use it to improve the class: https://docs.google.com/forms/d/1W4zXbXZTmxjtZPJfcmLrex0woYkodhJXVJ2TCLmgzig/vi ewform?embedded=true%22%20width=%22760%22%20height=%22500%22%20frameborder= %220%22%20marginheight=%220%22%20marginwidth=%220%22%3ELoading...%3C/iframe %3E or, the link is available in my blog and your course website. INCOMPLETE (I) GRADE: Awarding of Incomplete or I grades should be strongly discouraged. I will only be allowed for students who have a valid reason (ascertained by the senior management). In situations where the student is unable to complete the course due to unanticipated illness or family emergency and has not attended at least 75% of the classes held, he / she will be asked to withdraw from that course and repeat it. In unavoidable circumstances where students have completed 75% of the classes but are unable to continue (due to illness or family emergency), Incomplete grade of I may be granted. Incomplete course has to be completed by the end of the next semester, otherwise grade I automatically becomes grade F. The student is not required to register for the course in the next semester.

WITHDRAWAL (W): A W grade means withdrawal. A student may decide to withdraw from a course by the deadline. Students must apply to the Program Office for withdrawal from a course with the permission of the concerned course instructor, Academic Advisor, and the Dean. Withdrawal from only one course in a semester is allowed but the students should provide valid reason along with documents while applying for the withdrawal. ACADEMIC INTEGRITY POLICY: I will strongly follow the code of conduct delivered by IUB. Any student acting otherwise will receive an F in the course. School of Business, IUB, maintains a zero tolerance policy regarding violation of academic integrity. MISCELLANEOUS RULES: Electronic Devices: Turn off your ringing tone in your cell phone and whatever else you have that makes noise. Its disrespectful and distracting.