Module Catalogues, Xi'an Jiaotong-Liverpool University

Module Code: ECO118
Module Title: Maths for Economics and Business
Module Level: Level 1
Module Credits: 5.00
Semester: SEM2
Originating Department: International Business School Suzhou
Pre-requisites: N/A

 Aims This module introduces students to the application of mathematics to economics, management and accounting. The material will show how mathematical methods can be applied to problems in market analysis, compound interest, investment appraisal and agent optimisation (eg consumer utility maximisation and firm profit maximisation). The module design takes account of students' differing mathematical backgrounds in conjunction with the need to prepare all students for second and third year courses.
 Learning outcomes A. apply basic mathematical techniques in the study of supply and demand curves.B. demonstrate familiarity with the basic techniques of calculus and their applications to economics.C. demonstrate a working knowledge of the basic mathematics of finance.
 Method of teaching and learning This module will be delivered by a combination of lectures and tutorials. Lectures will be designed to provide essential information and introduce students to the basic tools and concepts of analysis. Tutorials will provide students with the opportunity to further develop their skills through the solution of various problems. Case study will be applied in lectures and tutorials replacing the coursework.
 Syllabus 1 .Introduction. Review of fractions and percentages2.Linear functions - graphs, simultaneous equations, supply and demand analysis3.Non-linear functions - quadratic and polynomial functions, exponents, the exponential and logarithmic functions with economic applications4.Mathematics of finance - geometric series, interest, growth, compounding, discounting and present value5.Differentiation - rules for differentiation6.Application of differentiation to economics - marginal analysis and elasticity7.Optimization (unconstrained) - maxima and minima, minimizing costs, maximizing revenue and maximizing profit8.Partial differentiation - differentiating functions with at least two independent variables, partial elasticities9. Unconstrained and constrained optimization
Delivery Hours
 Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total Hours/Semester 26 12 112 150

## Assessment

 Sequence Method % of Final Mark 1 Midterm Exam 30.00 2 Final Exam 70.00
 Module Catalogue generated from SITS CUT-OFF: 6/6/2020 9:56:33 PM