EXC 2910 Mathematics

EXC 2910 Mathematics

Course code: 
EXC 2910
Department: 
Economics
Credits: 
7.5
Course coordinator: 
Svein Lund
Product category: 
Bachelor
Portfolio: 
Bachelor - Core Courses
Semester: 
2019 Autumn
Active status: 
Active
Teaching language: 
English
Course type: 
Associate course
Course codes for multi- or associated courses.
EXC 2911
EXC 2912
Introduction

This is a basic mathematics course that spans two semesters. It aims to prepare the student for quantitative courses in economics and finance. The first semester (autumn) covers basic mathematical skills in algebra, equations, inequalities, functions and their graphs, and differentiation. The second semester (spring) focuses on more advanced calculus and some financial mathematics.

Learning outcomes - Knowledge

Students will get to know a wide area of mathematical topics relevant to subjects in business administration such as statistics, finance and economics.

Learning outcomes - Skills

After completed course students shall:

  • Master fundamental skills in algebra, and be able to solve equations and inequalities
  • Firmly understand the notion of a function and its graph
  • Master derivatives and understand the relation between the derivative and the slope on a graph
  • Use differentiation to solve optimization problems and calculate elasticities
  • Master simple integration and understand its relation to the area between graphs
  • Be familiar with exponential and logarithmic functions. Understand the use of the exponential function in calculating compound interest
  • Be familiar with the use of price, profit and cost functions in economics
  • Be able two solve constrained optimization problems in two dimensions by using partial differentiation and Lagrange multipliers
  • Be able to evaluate determinants and use Cramer's rule to solve linear equations
General Competence

.

Course content
  • Basic algebra
  • Solving equations and inequalities. Systems of equations
  • Functions and graphs
  • Differentiation and its use in economics
  • Basic financial mathematics
  • Basic integration
  • Functions of two variables. Partial differentiation and Langrange's method
  • Determinants and Cramer's rule
Teaching and learning activities

The course spans two semesters and consists of an introduction and an advanced part, total 84 lecture hours. 

Introduction part

First semester (autumn - EXC 2911) 36 hours - covers basic mathematical skills in algebra, equations, inequalities, functions and their graphs, and differentiation.  

Advanced part

Second semester (spring - EXC 2912) 48 hours - focuses on more advanced calculus and financial mathematics. 

The lecture hours will both cover the theory and train the students in practical problem solving. Training / use of Excel will be integrated into teaching. Every week the students are assigned exercises that will be discussed in the following lecture. The students are expected to work on these weekly exercises, and they will form a basis for the examinations.  

During each semester a mid-term mandatory assignment will be given. This will have to be approved to have the course approved.

Spreadsheet will be useful in this course.

Software tools
No specified computer-based tools are required.
Additional information

.

Qualifications

Higher Education Entrance Qualification.

Required prerequisite knowledge

No specific prerequisites required.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
EXC29101
Grading scale:
Pass/fail
Grading rules:
Internal examiner
Resit:
Examination every semester
0No2 Week(s)Individual Must be passed to obtain final grade.
Exam category:
Submission
Form of assessment:
Structured test
Exam code:
EXC29102
Grading scale:
ECTS
Grading rules:
Internal examiner
Resit:
Examination every semester
20Yes3 Hour(s)
  • Bilingual dictionary
Individual
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
EXC29103
Grading scale:
Pass/fail
Grading rules:
Internal examiner
Resit:
Examination every semester
0No2 Week(s)Individual
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
EXC29104
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination every semester
80Yes4 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Individual
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:0
Invigilation:No
Grouping (size):Individual
Support materials:
Duration:2 Week(s)
Comment: Must be passed to obtain final grade.
Exam code:EXC29101
Grading scale:Pass/fail
Resit:Examination every semester
Exam category:Submission
Form of assessment:Structured test
Weight:20
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • Bilingual dictionary
Duration:3 Hour(s)
Comment:
Exam code:EXC29102
Grading scale:ECTS
Resit:Examination every semester
Exam category:Submission
Form of assessment:Written submission
Weight:0
Invigilation:No
Grouping (size):Individual
Support materials:
Duration:2 Week(s)
Comment:
Exam code:EXC29103
Grading scale:Pass/fail
Resit:Examination every semester
Exam category:Submission
Form of assessment:Written submission
Weight:80
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Duration:4 Hour(s)
Comment:
Exam code:EXC29104
Grading scale:ECTS
Resit:Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
100
Workload activityDurationType of durationComment student effort
Teaching36Hour(s)Introduction
Prepare for teaching10Hour(s)Introduction
Group work / Assignments11Hour(s)Introduction
Examination3Hour(s)Introduction
Teaching48Hour(s) Advanced
Prepare for teaching72Hour(s)Advanced
Group work / Assignments75Hour(s)Advanced
Examination5Hour(s)Advanced
Expected student effort:
Workload activity:Teaching
Duration:36 Hour(s)
Comment:Introduction
Workload activity:Prepare for teaching
Duration:10 Hour(s)
Comment:Introduction
Workload activity:Group work / Assignments
Duration:11 Hour(s)
Comment:Introduction
Workload activity:Examination
Duration:3 Hour(s)
Comment:Introduction
Workload activity:Teaching
Duration:48 Hour(s)
Comment: Advanced
Workload activity:Prepare for teaching
Duration:72 Hour(s)
Comment:Advanced
Workload activity:Group work / Assignments
Duration:75 Hour(s)
Comment:Advanced
Workload activity:Examination
Duration:5 Hour(s)
Comment:Advanced
Sum workload: 
260

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.