1 Mathematics for Economics and Business

Linh Xuan Ward, Thu Duc district, Ho Chi Minh City, Vietnam
Tel: 84.8. 3 7244 555 Fax: 84.8. 3 7244 500 Website: www.uel.edu.vn

SYLLABUS: MATHEMATICS FOR ECONOMICS AND BUSINESS

Subject Information
Name: Mathematics for Economics and Business
Number of credit points: 4
Pre-requisites: None

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1. Subject Description

The course provides students with fundamentals of calculus (both univariate and multivariable)
and algebra. Topics include systems of linear equations, nonlinear equations, introduction to
financial mathematics, differentiation, partial differentiation, integration, optimization, matrices
and their applications, etc. Besides building theoretical background as required by an introductory
college mathematics course, students will be able to apply their knowledge to various business
and economic problems to sharpen their understanding and skills.

2. Learning Outcomes

On successful completion of the subject, students should be able to achieve the following
learning outcomes

No Subject Learning Outcome Description

1 Can work with linear and basic non-linear equations, relevant applications in economics
and business

2 Can use mathematical methods to explain and solve common problems in finance, such
as interest, loan payment, investment appraisal.

3 Can understand the concepts, do the exercises in calculus, especially important topics
such as derivatives and slopes of tangent lines, first/second order conditions and
optimization, anti-derivatives, integration and accumulation etc.
4 Can use calculus in a variety of business applications such as marginal analysis,
optimization, economic order quantity, etc.
5 Can understand the concepts, do exercises in multi-variable calculus. Topics include
gradient vectors, hessian matrix and second partial derivatives, unconstrained
optimization, constrained optimization and the Lagrange multiplier.
Apply multi-variable calculus in business problems like maximizing production, profit,
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revenue, minimizing costs, elasticity and so on.

7 Can link the mathematical concepts to other relevant subjects in student’s own program
and to real-life situations.

8 Can use office software to edit, prepare presentation/report in this subject and deliver it
to other students.

3. Learning Resources

Major text(s)

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1. Ian Jacques, Mathematics for Economics and Business, 9th edition, Pearson Education
Limited, 2018.
2. Le Thi Thanh An, Ha Van Hieu et al., Lecture note: Math for Economics and Business,
2021.

Other resources

1. Raymond A. Barnett,Michael R. Ziegler, Karl E. Byleen, Calculus for Business,

Economics, Life Sciences and Social Sciences, 13th edition.
2. Howard Anton, Chris Rorres, Elementary linear algebra, applications version, 9th edition
3. Hillier and Lieberman, Introduction to operations research, 10th edition, Mc Graw Hill
4. Haeussler, Paul, Wood, Introductory Mathematical Analysis for Business, Economics, and
the Life and Social Sciences, 13th Edition, Pearson, 2011.

4. Course outline

The following is the outline for the course.

No Lecture Topics

1 Linear economic models (Ref. chapter 1)

2 Non-linear models in economics and business (Ref. chapter 2)

3 Mathematics of finance (Ref. chapter 3)

4 Differentiation and applications (Ref. chapter 4)

5 Partial differentiation and applications (Ref. chapter 5)

6 Using integration in economics and business (Ref. chapter 6)

7 Matrices and relevant economic models (Ref. chapter 7)

Linear programming (Ref. chapter 8)

8

Introduction to dynamics (Ref. chapter 9)

9

10 Review

Note for (*): the italic parts are optional, subjected to change.

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4. Attendance Requirement

A minimum attendance of 80 percent (including lecture and tutorial) is compulsory.

5. Assessments

No Form of Assessment Type of Collaboration Weight

1 Midterm Individual/group 20%

2 Attendance and assignments 30%

3 Final exam (75 min) Individual 50%

Total Marks 100%

Note: Details of the assessment will be provided at the beginning of the course.

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