ECO201 Mathematics for Business & Economics Course Outline Bracu PDF

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Department of Economics and Social Sciences (ESS) Summer 2015 Course Outline ECO 201 (Section-1) Tasbita Reham Email: [email protected] Class Hours: Monday & Wednesday (12.30 – 01.50 pm) – UB 30803 (Sec 1) Office Hours: UB 40708; Sunday & Tuesday (10.00 am– 12.00 pm) and by appointment ECO201: Mathematics for Business and Economics Course Description: The course provides an introduction to basic concepts and tools of mathematics that are frequently used in the fields of Business and Economics. This is one of the core courses for BBA students and provides a thorough analytical approach to higher level business and economics courses. It builds upon the mathematical theories like linear algebra, differential calculus and optimization techniques which have wide varied applications not only in Economics (comparative static analysis, elasticity, price discrimination etc.) but in several areas of business like marketing, finance and operations. Learning Outcomes: Upon completing the course the students should be able to:▪ ▪ ▪ ▪ ▪

Identify and define different business and economic problems using an analytical framework and translate them into mathematical expressions. Get introduced to statistical software and programs like EXCEL SOLVER to solve business models (e.g. linear programming models) and produce results. Interpret the results and synthesize them into a conclusion or recommendation. Have an overall understanding of mathematical tools and techniques and their application on various business and economic concepts and theories. Develop critical thinking and numerical skills

Prerequisites: MAT 101, ECO 101 Evaluation: Attendance Assignment Quiz Midterm Final Total

05 % 15 % 15 % 25 % 40 % 100 %

Textbooks: 1. Anderson, Sweeney, Williams, Camm, Marlin., 'An Introduction to Management Science: Quantitative Approaches to Decision Making' (ASW) 2. Alpha C. Chiang, Kevin Wainwright, 'Fundamental Methods of Mathematical Economics', 4th Edition, McGraw Hill, 2005 (Chiang) Supplementary Textbook: Edward T. Dowling, 'Schaum's Outline of Mathematical Methods for Business and Economics

Department of Economics and Social Sciences (ESS) Spring 2015 Course Outline ECO 201 (Section-1) Plagiarism Warning BRAC University requires students to act in an honest manner. Copying from another student or copying from published or unpublished or electronic sources without appropriate citations or quotations is plagiarism. Such dishonest practices will automatically result in students getting zero marks. Additionally they will be reported to the university authorities for further disciplinary actions. You should also note that extensive quotation from the same source, even if properly acknowledged, does not demonstrate your understanding. Such work cannot receive a high grade. Schedule of Topics: No 1 2 3 4 5 6 7 8 9 10

Topics Text Reference Introduction to the course ASW Chapter 1 Introduction to linear programming ASW Chapter 2 Sensitivity Analysis ASW Chapter 3 Applications of Linear programming ASW Chapter 4 Distribution and Network Models ASW Chapter 6 MID-TERM (22nd June, 2015- Monday) Comparative-Static and the Concept of Derivative Chiang Ch 6 Rules of Differentiation and Their Use in Comparative Statistics Chiang Ch 7, 8 Comparative-Static Analysis of General-Function Models Chiang Ch 8 Optimization: A Special Variety of Equilibrium Analysis Chiang Ch 9, 11, 12 Optimization: The Case of More than One Choice Variable Chiang Ch 11

11

Optimization with Equality Constraints

Chiang Ch 12

General Policies: • • • • • • • •

BRAC University policy regarding minimum required attendance to sit for exams applies. All assignments must be submitted by 5pm on the day that it is due. Lab classes are compulsory for the students to attend. Strictly NO MAKEUP EXAM/EXTENSION for any missed quiz/assignment/midterm. Side-talking is not allowed. Class participation is highly encouraged and will be rewarded. Students are expected to maintain proper classroom decorum. Use of mobile phones, pagers, iPods and any device that may disrupt the class must be turned off or put to silence during lectures.

Disclaimer: The instructor reserves the right to make changes to any part of this syllabus. Should such instances arise; students will be notified in advance.

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