MATH 103 – Mathematics for Economics and Business

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MATH 103 – Mathematics for Economics and Business; Weekly hours: 2+1, ECTS: 5
The objectives of the course are to give students knowledge of mathematics with emphasis on applications in economics and business. The curriculum includes: Basic concepts, Linear function and Applications (demand, supply, cost, revenue), Simultaneous linear equations and Applications (equilibrium and break even, consumer and producer surplus), Non-linear functions and Applications,  Financial mathematics: arithmetic and geometric sequences and series, simple interest, compound interest and annual percentage rates, depreciation, net present value and internal rate of return, annuities debt repayments, sinking funds, Differentiation and Applications (marginal functions, average functions, optimization for functions of one variable, economic applications of maximum and minimum points), Integration and Applications (definite integral and area under curve, consumer and producer surplus).