Module: Mathematics for Economics & Business

Latest Module Specifications

Current Academic Year 2025 - 2026

Module Title	Mathematics for Economics & Business
Module Code	MTH1027 (ITS: MS136)
Faculty	Mathematical Sciences	School	Science & Health
NFQ level	8	Credit Rating	5

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.

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.

*Type*	*Hours*	*Description*
Workload	Full time hours per semester
Online activity	20	Online content and formative assessments on theory and applications of mathematics in economics and business.
Lecture	10	Live face-to-face lecture
Tutorial	10	Live online tutorial.
Independent Study	85	No Description
Total Workload: 125

Section Breakdown
CRN	11201	Part of Term	Semester 1
Coursework	0%	Examination Weight	0%
Grade Scale	40PASS	Pass Both Elements	Y
Resit Category	RC1	Best Mark	N
Module Co-ordinator	Michael Marsh	Module Teacher	Brien Nolan, James O'Shea, Thorsten Neuschel

Type	Description	% of total	Assessment Date
Assessment Breakdown
Short Answer Questions	Online quiz.	10%	Week 3
Short Answer Questions	Online quiz.	10%	Week 6
Short Answer Questions	Online quiz.	10%	Week 9
Written Exam	End-of-Semester Final Examination	60%	Week 11
Loop Quiz	Weekly online quiz	10%	Every Week

Reassessment Requirement Type
Resit arrangements are explained by the following categories; RC1: A resit is available for both^* components of the module. RC2: No resit is available for a 100% coursework module. RC3: No resit is available for the coursework component where there is a coursework and summative examination element. ^* ‘Both’ is used in the context of the module having a coursework/summative examination split; where the module is 100% coursework, there will also be a resit of the assessment

Pre-requisite	None
Co-requisite	None
Compatibles	None
Incompatibles	None

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

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.

Indicative Reading List

Books:

Ian Jacques: 0, Mathematics for Economics and Business, 2nd - 8th, Addison-Wesley/Prentice Hall,
Anthony Croft and Robert Davison: 2008, Foundation Mathematics, Addison-Wesley,

Articles:
None

Other Resources

Drop-in centre: DCU Maths Learning Centre, http://www.dcu.ie/maths/mlc/index.shtml