Module Specifications.
Current Academic Year 2024 - 2025
All Module information is indicative, and this portal is an interim interface pending the full upgrade of Coursebuilder and subsequent integration to the new DCU Student Information System (DCU Key).
As such, this is a point in time view of data which will be refreshed periodically. Some fields/data may not yet be available pending the completion of the full Coursebuilder upgrade and integration project. We will post status updates as they become available. Thank you for your patience and understanding.
Date posted: September 2024
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Description The principal aim of this module is to equip students with the skills required to analyse and interpret economic and business situations under conditions of change in a rigorous quantitative manner. This involves primarily the study of calculus (the mathematics of change) and its applications to the construction and analysis of mathematical models of economic and business phenomena. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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Learning Outcomes 1. Construct and apply mathematical models of problems in economics, business and finance using elementary mathematical functions; 2. Construct and interpret graphs of economic functions for specific classes of mathematical functions, using differential calculus when required; 3. Interpret and apply derivatives, including partial derivatives, of economic functions (marginal functions), especially in optimization problems; 4. Interpret and apply the compound interest formula to solve problems in mathematical finance. 5. Complete mathematical tasks (including in an online environment) relating to the mathematical knowledge and skills required in this module. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml |
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Indicative Content and Learning Activities
Functions and their graphs.Mathematical functions and their graphical representation. Interpretation of graphs. Linear and quadratic functions. Simultaneous linear equations. Economic applications: supply and demand; revenue, cost profit; production functions; national economy models.Derivatives.Slopes of lines, curves and the definition of the derivative. Marginal functions and their applications. Methods of differentiation. Drawing graphs using the derivative. Elasticity.Optimisation.Solving max/min problems using the derivative. First and second derivative tests for extreme values.The time value of money.Percentages. The compound interest formula. Discounting and investment appraisal – net present value and yield.Partial derivatives.Economic models involving functions of several variables. Partial derivatives. Utility functions, isoquants and indifference curves. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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Indicative Reading List
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Other Resources 55433, Drop-in centre, 0, DCU Maths Learning Centre, http://www.dcu.ie/maths/mlc/index.shtml, | |||||||||||||||||||||||||||||||||||||||||||||||||||||