# EXC 2910 Mathematics

## EXC 2910 Mathematics

EXC 2911 | |

EXC 2912 |

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.

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

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

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- 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

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.

.

Higher Education Entrance Qualification.

No specific prerequisites required.

Exam category | Weight | Invigilation | Duration | Support materials | Grouping | Comment exam |
---|---|---|---|---|---|---|

Exam category:Submission Form of assessment:Written submission Exam code:EXC29101 Grading scale:Pass/fail Grading rules:Internal examiner Resit:Examination every semester | 0 | No | 2 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 | 20 | Yes | 3 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 | 0 | No | 2 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 | 80 | Yes | 4 Hour(s) | - BI-approved exam calculator
- Simple calculator
- Bilingual dictionary
| Individual |

Workload activity | Duration | Type of duration | Comment student effort |
---|---|---|---|

Teaching | 36 | Hour(s) | Introduction |

Prepare for teaching | 10 | Hour(s) | Introduction |

Group work / Assignments | 11 | Hour(s) | Introduction |

Examination | 3 | Hour(s) | Introduction |

Teaching | 48 | Hour(s) | Advanced |

Prepare for teaching | 72 | Hour(s) | Advanced |

Group work / Assignments | 75 | Hour(s) | Advanced |

Examination | 5 | Hour(s) | Advanced |

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.

#### Obligatorisk/Compulsory

##### Book

Authors/Editors | År | Tittel | Edition | Publisher | StudentNote |
---|---|---|---|---|---|

Sydsæter, Knut; Strøm, Arne; Hammond, Peter J. | 2016 | Essential mathematics for economic analysis | 5th ed | Pearson Education |