THE CATHOLIC UNIVERSITY OF MALAWI
Course Outline
MAT 1103N: Business Mathematics I
1. Faculty : Science
2. Programme : Bachelor of Education (Mathematical
Sciences)
3. Department : Mathematics
4. Course title : Business mathematics I
5. Course code : MAT 1103N
6. Course year/level :1
7. Semester :1
8. Lecture hours per week :3
9. Practical/tutorial hours per week : 1
10. Course credits :3
11. Method of assessment : Continuous assessment 50%
: Final examination 50%
12. Pre-requisites:
Coordinate geometry, linear and quadratic functions, probability theory and matrices.
13. Course descriptor/rationale:
Business mathematics I is a foundation course for MAT 1204N. The course is very
important as it brings out the basic concepts of business –related mathematics. The course
has the potential to make students very conversant with mathematical calculations as
regards to business. There is also a concept of informed decision making embedded in the
course.
14. Aims of the course:
The course is designed to establish necessary skills in Mathematical methods and to initiate
the development of an ability to apply these mathematical methods to problems in the area
of Applied Economics.
15. Intended leaning outcome:
By the end of this course students should be able to:
i. Interpret and use the mathematical symbols and terminology.
ii. Implicitly utilize the rules of logic in the application of numerical and algebraic
concepts and relationships....
iii. Recognise the mix of appropriate mathematical methods for a given situation in
the area of applied economics and Business.
16. Topics of study:
a. . Linear Equations
i. Straight Line Graphs
ii. Simultaneous Equations
iii. Input-Output Analysis
b. Linear Inequalities
i. Inequalities
ii. Economics and Business Applications
iii. Linear Programming
c. Sets and Functions
i. Sets and Numbers
ii. Functions
iii. Mappings
d. Quadratics, Indices and Logarithms
i. Quadratic Functions
ii. Indices
iii. Logarithms
e. Sequences and Series
i. Sequenses
ii. Series
iii. Geometric Progressions in Business and Economics
f. Introduction to Differentiation
i. The Derivatives
ii. Linear Approximation and Differentiability
iii. Derivatives in Business and Economics
g. Methods of Differentiation
i. The Product and Quotient Rules
ii. The Composite Function Rule-chain Rules
iii. Monotonic Functions and Inverse Functions
h. Maxima and Minima
i. Critical Points
ii. The Second Derivative
iii. Optimisation
iv. Convexity and Concavity
i. Exponetial and Logarithmic Functions
i. The Exponential Function
ii. Natural Logarithms
iii. Time in Economics
j. Matrix Algebra
i. Vectors
ii. Matrices
iii. Matrix Multiplication
iv. Square Matrices
k. Systems of Linear Equations
i. Echelon Matrices
ii. More on Gaussian Elemination
iii. Inverting Matrices
iv. Linear Dependence and Rank
l. Determinants and Quadratic Forms
i. Determinants
ii. Transposition
iii. Inner Products and Quadratic Forms
m. Introduction to Financial Mathematics
i. Simple and compound interest
ii. Depreciation
iii. Present Value and investment Appraisal and Annuities
n. Introduction to Probability
i. Simple and Sample Space
ii. Mutually Exclusive and independent Invents
iii. Addition and Multiplication Rules of Probability
17. Teaching and learning methods/activities :
Lecture method.
18. Prescribed texts:
Sydsaeter, K. & Hammond, P., 2008. Essential Mathematics for Economic Analysis (3rd
Ed). Prentice Hall
Mike R., 2003. Business Mathematics for Economists. (2nd Ed).
Francis, A. 2004. Business Mathematics and Statistics (6th Ed). Australia :Thomson
19. Recommended Texts:
Dowling, P., 2000, Mathematics for Economists, Schaum’s Outline Series. John Wiley
and Sons
Simon, C. P. & Blume, L., 1994, Mathematics for Economicsts (1stEd). W. W. Norton
and Company Inc.
Hirsch, L. & Goodman, A., 2002, Understanding Intermediate Algebra: A Course for
College Students (5thEd). Wardsworth Group
