The students who have succeeded in this course;
1. Acquire basic knowledge in fundamental mathematical techniques and understand how mathematics is used in social sciences. 2. Repeat the concept and properties of real numbers, remembers simple algebraic issues such as factorization, systems of linear equations and linear inequalities, classify numbers and make calculations with exponents and radicals.
3. Define quadratic equations, inequalities and their graphs, develop and model situations described by linear or quadratic equations and solve them.
4. Understand linear, hyperbolic, exponential and logarithmic functions and find composite and inverse functions; sketch the graphs of specific functions and find symmetry, reflection and rotations in Cartesian coordinates.
5. Solve systems by describing equilibrium and break-even points; define economic relationships as single variable functions, like demand, supply, price, revenue, cost and profit.
6. Compute simple interest using the simple interest formula, compound and continuous compound interest; and the future value of an annuity; develop a strategy for solving finance problems using mathematics.
7. Calculate matrix operations, find inverse of a matrix and solve systems of linear equations using matrix equations. |
Week |
Subject |
Related Preparation |
1) |
Introduction
Review of Algebra (CH 0)
|
Sets of real numbers, some properties of real
numbers, exponents, radicals, operations with
algebraic expressions, factoring, fractions,
equations (in particular linear equations), quadratic
equations
|
2) |
Applications and more
Algebra (CH 1)
|
Applications of equations, linear inequalities, absolute value
|
3) |
Applications and more
Algebra (CH 1)
|
Summation notation, sequences |
4) |
Functions and graphs
(CH 2)
|
Functions, special functions, combinations of functions, inverse functions
|
5) |
Functions and graphs
(CH 2)
|
Graphs in rectangular coordinates, symmetry, translations and reflections, functions of several variables
|
6) |
Lines, Parabolas, and
Systems (CH 3)
|
Lines, applications of linear functions, quadratic functions, systems of linear equations
|
7) |
Lines, Parabolas, and
Systems (CH 3)
|
Nonlinear systems, applications of systems of equations |
8) |
Midterm Week |
|
9) |
Exponential and logarithmic functions
(CH 4)
|
Exponential functions, logarithmic functions, properties of logarithms
|
10) |
Exponential and logarithmic functions
(CH 4)
|
Logarithmic and exponential equations |
11) |
Mathematics of finance
(CH 5)
|
Compound interest, present value, interest compounded continuously
|
12) |
Mathematics of finance
(CH 5)
|
Annuities, perpetuities |
13) |
Matrix Algebra
(CH 6)
|
Matrices, matrix addition and scalar multiplication |
14) |
Matrix Algebra
(CH 6)
|
Matrix multiplication, solving systems by reducing matrices , Inverses
|
|
Program Outcomes |
Level of Contribution |
1) |
Build up a body of knowledge in mathematics and statistics, to use them, to understand how the mechanism of economy –both at micro and macro levels – works. |
5 |
2) |
Understand the common as well as distinctive characters of the markets, industries, market regulations and policies. |
2 |
3) |
Developing the ability to explain global economic events by understanding different economic perspectives. |
1 |
4) |
Acquiring the ability to analyze the impact of politics on the economy and vice versa. |
1 |
5) |
Gaining the competence to propose solutions to economic problems and evaluate opposing policy recommendations. |
2 |
6) |
Understanding and evaluating new economic developments and approaches. |
2 |
7) |
Developing the ability to convey economic news and developments through written, oral, and graphical communication. |
4 |
8) |
Gaining the competence to develop structured solutions for economic issues. |
3 |
9) |
Acquiring the capability to present findings that support economic assumptions using numerical and verbal skills. |
4 |
10) |
Gaining the competence to follow economic information and communicate with colleagues using a foreign language. |
3 |