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Module Specifications

Archived Version 2003 - 2004

Module Title	Business Mathematics 1
Module Code	MS136
School	School of Mathematical Sciences
Online Module Resources
Module Co-ordinator	Dr Brien Nolan	Office Number	X138F
Level	1	Credit Rating	5
Pre-requisite	None
Co-requisite	None

Module Aims

To give a thorough grounding in the mathematics required for the successful understanding and solution of business problems. To understand how mathematics can be used as a tool for solving real world problems and a language for communicating information.

Learning Outcomes

7 To improve the skill of calculation which is necessary in many of the other courses in the degree programme. 7 To develop skills in deductive reasoning.

Indicative Time Allowances
	Hours
Lectures	2
Tutorials	1
Laboratories	0
Seminars	0
Independent Learning Time	72

Total	75
Placements
Assignments

NOTE

Assume that a 5 credit module load represents approximately 75 hours' work, which includes all teaching, in-course assignments, laboratory work or other specialised training and an estimated private learning time associated with the module.

Indicative Syllabus

· Basic Skills: Fractions, decimals. Algebraic manipulation and equations. Powers and indices. The straight line. · Mathematics of Finance: Percentages, compound interest, continuously compounded interest, geometric series, saving plans, loan repayments, net present value, internal rate of return, investment appraisal, annuities. · Linear and Nonlinear Equations of Economics: Revision of linear equations, supply and demand analysis, equilibrium, national income determination, consumption functions, revision of quadratic equations, revenue, cost, profit, break-even points, exponential and natural logarithm functions, market saturation level, gross national product. · Differentiation and Applications: Rules of differentiation; marginal analysis, production functions; law of diminishing returns; more rules of differentiation; elasticity; maximum and minimum points; graphing economic functions; optimization; further optimization of economic functions; marginal analysis revisited; derivative of exponential and natural logarithm functions; applications; functions of several variables.