1112 Qmds100 Fall1 Outline 5u1w5d

Faculty of Business istration

QMDS 100 BUSINESS MATHEMATICS Fall Semester 2011/2012

GENERAL INFORMATION

Instructors Section 001-002 003-004 005 006-007 008-009

Name Anthony Tang Rebecca Lao Robin Li Trevor Yeung Winnie Kuan

Office L305 PLG402 B1- B211 L329 PLG402

Telephone 8397-4172 8397-8862 8397-4539 8397-4192 8397-8862

E-mail

Consultation hours

[email protected]

Wed 14:30 – 17:30 Mon, Thurs 14:30 – 16:00 Mon, Thurs 11:30 – 13:00 Tues, Fri 10:00 – 11:30 Mon, Thurs 10:00 – 11:30

[email protected]

Graduate Assistant Name Oona Zhang

Office B1-A210

Telephone 8397-4532

E-mail [email protected]

Consultation hours Mon – Fri 13:00 – 15:00

Objective It aims to provide students in economics and business a thorough and sound foundation in mathematics that is required for future courses in quantitative methods and economics. The course discusses how to apply quantitative techniques in business and economics. Besides, basic knowledge and applications in matrix algebra, and calculus will also be introduced.

Syllabus (see attached schedule for details) 1. 2. 3. 4. 5.

Linear and quadratic functions Exponential and logarithmic functions Differential calculus Integral calculus Matrix algebra

Problem sheets and Assignments Problem sets and assignments can be ed from the UMMoodle homepage http://ummoodle.umac.mo and there will be regular homework assignments given to reinforce the material covered in the lectures.

Textbook Haeussler, E.F., Paul, R.S. and Wood, R.J., Introductory mathematical analysis for business, economics, and the life and social sciences, 13th Edition, Prentice Hall, 2011.

References There are some books in the library that contain chapters of interests; some are listed below.

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Arya, J.C. and Lardner, R.W., Mathematical analysis for business, economics and the life and social science. (QA 300 ARY) F.S. Budnick, Applied Mathematics for Business, Economics and the Social Sciences, 5th Edition, McGraw-Hill, 1993. L. D. Hoffmann and G.. L. Bradley, Calculus for Business, Economics, and the Social and Life Sciences, 10/e (Brief Ed) McGraw-Hill, 2010. Timbrell, M., Mathematics for economists: an introduction. (HB 135 TIM) Mizrahi, A. and Sullivan, M., Mathematics for business and social sciences: an applied approach. (HF 5691 MIZ) B.L.Bleau, Forgotten Calculus: a Refresher Course with Applications to Economics and Business. (QA 303 BLE)

Assessment

Three assignments Test 1 to be held on 31 Oct, 2011 (Mon) Test 2 to be held on 25 Nov, 2011 (Fri) Final Exam to be held in Dec 2011

(10%) (25%) (20%) (45%)

Remarks •

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It is important for you to attend all classes and arrive on time. In cases of default you should find out whether you have missed any handouts and/or announcements. Students whose attendance rate is below 80% and who cannot provide valid documents to their absence will receive a grade of F. Any student whose mark is below 40% in the final examination will receive a grade of F for the course. No mobile phone in class/exam. No dictionaries in test/exam. Late submission of assignments is strictly not entertained. Dates for the two tests are firm, the exact time and location will be announced later. A student who is absent from the final examination due to ill, health or other misadventure will NOT be granted additional assessment unless their performance in quiz/mid-term examination and attendance are satisfactory. Cheating is a serious offense and those who are caught in doing that or assist someone else in doing it will be severely punished.

Important dates Event Assignment 1 (L1 to L5) Assignment 2 (L6 to 10) Test 1 (materials covered: L1 to L10) Assignment 3 (L11 to L15) Test 2 (materials covered: L11 to L15) Assignment 4 (L16 to L19) Final Exam (materials covered: L1 to L19)

Date Time 28 Sept, 2011 (Wed) 2:00 – 6:00 p.m. 28 Oct, 2011 (Fri) 2:00 – 6:00 p.m. 31 Oct, 2011 (Mon) 7:30 – 9:00 p.m. 21 Nov, 2011 (Mon) 2:00 – 6:00 p.m. 25 Nov, 2011 (Fri) 7:30 – 8:30 p.m. For self-practice, submission is not required The exact date, time and location will be announced at FBA Notice Board and posted on FBA webpage in Dec 2011

QMDS 100 – Course Schedule Lecture 1

Topic Linear and quadratic functions - Review: Graphing linear and quadratic functions P.2/4

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Applications of Linear and quadratic functions (1) Demand and supply functions; Market equilibrium Applications of Linear and quadratic functions (2) - Revenue, cost and profit functions; Break-even analysis Exponential functions - Properties and graphs; Natural exponential functions Exponential growth and decay -

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Lecture 14 15

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Logarithmic functions - Using natural logarithms to solve time and growth rate in the exponential growth function - Logistic function 6.1 Mathematics of Finance (1) - Compound interest 6.2 Mathematics of Finance (2) - Present value 6.3 Mathematics of Finance (3) - Annuities; target deposits Differentiation 1 - Derivative and Rules of differentiation (including derivatives of exponential and logarithmic functions) Differentiation 2 - Instantaneous rate of change; velocity - Percentage rate of change Differentiation 3 - Marginal analysis - Point elasticity of demand Differentiation 4 - Differentiation of composite functions: the Chain Rule Differentiation 5 - Implicit differentiation - Higher-order derivatives Differentiation 6 - Optimization Integration 1 - Antiderivatives - Indefinite integrals Topic Integration 2 - Method of substitution Integration 3 - Definite integrals (The Fundamental theorem of calculus) - Area under a curve Matrix Algebra 1 P.3/4

Dimension of a matrix, different types of matrices Operations on matrices: addition, subtraction, scalar multiplication, inner product, matrix multiplication Matrix Algebra 2 - Determinant of a square matrix - Evaluating determinants using cofactors Properties of determinants Matrix Algebra 3 - Systems of equations in matrix form - Solving systems of linear equations:  Cramer’s Rule  Reduction method  Inverse of a matrix Matrix Algebra – selected applications (optional) - Simple Markov chain - Network applications: adjacency matrix - Leontief’s input-output analysis -

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