LAHORE SCHOOL OF ECONOMICS

Program
MATHEMATICS I
BBA/BSC I Winter term 2023
Credit Hours 3 CHs (MTH 101)
Duration 16 Weeks

Prerequisites -

Resource Person Ismat Beg

Class timings

Office & Ext.

Office Hours

E-mail IBEG@LAHORESCHOOL.EDU.PK

Teaching Assistant

Course: Mathematics I

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 Lahore School of Economics
BBA/BSC I Spring Term 2023
SYLLABUS

I. Basic algebra: Linear and quadratic equations, Solving linear and quadratic equations,
Application of equations: profit, pricing, savings, revenue, sales tax, investment, bond
redemption, linear inequalities, applications of inequalities: profit, renting verses
purchasing, leasing versus purchasing, revenue, current ratio, investment

II. Functions and Graphs: Introduction to functions, domain and range of a function,
Applications: demand, supply and profit functions, demand and supply schedule, value of
business, depreciation, Special functions: polynomial, rational, piecewise defined
functions, Absolute value function, and evaluation of such functions. Combination of
functions. Applications: cost, investment, sales, profit, business, Graphs of functions:
linear, quadratic, piecewise defined functions, graphing of quadratic functions by finding
vertex, Applications on graphs: inventory, debt payment, pricing, revenue and profit,
demand and supply curves

III. Lines and Systems: Equation of a straight line, slope and intercept of a line, parallel and
perpendicular lines, Applications: price-quantity relationship, production levels, cost,
revenue, demand and supply equations, isocost line, isoprofit line, depreciation,
appreciation, systems of linear equations, solution of system of linear equations, nonlinear
systems: one linear one quadratic equation, solving nonlinear systems, Applications: market
equilibrium, break-even points, profit and loss, business.

IV. Limits and Continuity: Limit of a function, Graphical approach, Properties of limit, limit
of polynomial and rational functions, limits at infinity, infinite limits, Applications:
Production function, average cost, continuous compound interest, One-sided limits,
Continuity, Applications: Inventory, cost-benefit analysis, cost management.

V. Differentiation: The derivative, techniques of differentiation. Applications: Profit,

Manufacturing output, consumer expenditure, cost management, demand and revenue,
sales, The chain rule, The general power rule, Applications on chain rule: Production,
consumer demand, manufacturing cost, compound interest, depreciation, Marginal
analysis and approximations using increments, implicit differentiation and related rates,
Applications on implicit differentiation: Manufacturing, demand rate, supply rate,
L’Hopital’s Rule.

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VI. Additional Applications of the Derivative : Increasing and decreasing functions, Relative
Extrema and optimization, First derivative test for relative extrema, Concavity and point
of inflection, The second derivative test for extrema, Optimization, Marginal analysis
criterion for maximum profit, Marginal analysis criterion for minimal average cost, price
elasticity of demand, Additional applied business and economics applications on
optimization: profit under monopoly, production and construction cost problems,
inventory, effect of taxation on a monopoly, depreciation.

Course Description & Objectives

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The primary goal of this course is to teach the techniques of differential calculus that is likely to
be encountered in business and economic courses in college and in subsequent professional
activities. The course begins with basic algebra and techniques for solving linear and non-linear
equations. Solutions of systems of linear and non-linear equations are also discussed with
applications to economics and business. Functions are introduced and their graphs are discussed.
Techniques of differentiation and relative maxima and minima are discussed in detail along with
applications related to business, economics and the social sciences.The course is designed to
provide a sound, intuitive understanding of the basic concepts without sacrificing mathematical
accuracy.

Teaching Strategy
The lecture will be divided into lecture and discussion sessions. Students will be
given problem sets and quizzes in the discussion sessions. Regular class assignments will be
given to enhance understanding of the concepts discussed in class. Students are encouraged to
discuss their problems.

Course Learning Objectives

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 The course has been designed to achieve the following objectives: It is expected that at
the end of this course students will be able to:
CLO 1. Understand basic algebraic techniques used for solving equations with
applications in economics , finance and business.
CLO 2. Understand the concept of functions of one variables and their graphs with
applications in economics and business.
CLO 3. Understand basic techniques used for solving systems of linear and non-linear
equations with applications in economics , finance and business.
CLO 4. Differentiate and optimize functions of one variable with applications to
economics, business and finance.

Program Learning Objectives

PLO 1. To introduce students to main functional areas such as Management,

Marketing, Finance, Accounting, Operations and Strategy.
PLO 2. To make students apply descriptive, predictive and prescriptive analytics for
optimizing financial business decisions.
PLO 3. To make students understand the underlying concepts, theories, and techniques
taught during coursework with emphasis on using large finance related datasets for
decision making.
PLO 4. To emphasize the value of working in diverse teams/group settings.
PLO 5. To enable students to be sensitive to issues related to ethics/social
responsibility.

Indicate below how the course learning objectives specifically relate to any program

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learning goals and objectives.

Program Learning Objectives Course Learning Objectives Course

PLO 1. To introduce
students to main functional
areas such as Management,
Marketing, Finance,
Accounting, Operations and
Strategy.
Assessment Item
Quizzes,
Understand basic algebraic techniques used for Assignments and
solving equations with applications in economics , Exam
finance and business.
(CLO 1)

PLO 2. To make students Understand the concept of functions of one Quizzes,

apply descriptive, predictive
and prescriptive analytics for
optimizing financial business
decisions.
variables and their graphs with applications Assignments, and
in economics and business.(CLO 2) Exams
Understand basic techniques used for solving
systems of linear and non-linear equations
with applications in economics , finance and
business. (CLO 3)

Differentiate and optimize functions of one

variable with applications to economics and
finance.
(CLO 4)

PLO 3. To make students

understand the underlying
concepts, theories, and
techniques taught during
coursework with emphasis
on using large finance
related datasets for decision
making.

PLO 4. To emphasize the

value of working in diverse
teams/group settings.

PLO 5. To enable students

to be sensitive to issues
related to ethics/social
responsibility.

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Recommended Text Books

Core Reading List:

1. Laurence D. Hoffman and Gerald Bradley, Applied Calculus for Business, Economics and
the Social and Life Sciences (Expanded Edition), McGraw Hill, 2014, 11h Edition.

1. Ernest F. Haussler, Jr & Richard S. Paul, Introductory Mathematical Analysis for

Business, Economics and the Social and Life Sciences, Mc GrawHill, 2019, 14th Edition.

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Pedagogy

The course is heavily based on lectures followed by problem sets and will be supplemented
by in class assignments.

Examinations

There will be two examinations for this course. The exams will consist of problems and theory
questions based on assignments, class lectures, and problem sets. No make-up exam will be
given except for emergencies. The make-up exam will only be administered if the request is
approved by Lahore School administration.

Policy on Plagiarism/Cheating

The plagiarism in group project/presentation or cheating during exam will result in an F Grade.
The students must note that plagiarism include the submission/presentation of a report/article that
has been previously used for another course (even by the same author) or using the graded
material of this course for some other course.

Lahore School of Economics Plagiarism Policy:

Lahore School adheres strictly to HEC plagiarism policy available on the HEC website and
Lahore School handbook on plagiarism policy. The policy can be found at:
http://hec.gov.pk/english/services/faculty/Documents/Plagiarism/Plagiarism%20Policy.pdf

Student Portal:
All lecture slides and assignments will be uploaded on the student portal
student.lahoreschool.edu.pk

Exam Policy
Examinations will be timed. All topics will be included in final exam.
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Quizzes:
There will be 10 quizzes throughout the semester. CELL PHONES MAY NOT BE
USED AS CALCULATORS. If a quiz is missed for a valid excuse the student will not be
allowed to retake the quiz. All students must take their quizzes with their own section and will
not be allowed to take any quizzes with other sections. 8 best quiz will be counted.

Assignments:
Assignments will be distributed during the discussion session. Students are encouraged to
complete the assignments individually in class.

Attendance Policy:
Students are required to attend both sessions of every class. If a student is not present in
any class due to any reason he/she will be marked absent and no leaves will be accepted. If a
student is absent for more than 8 classes in the course, then the student will be dropped from the
course and given Grade I which means the course is incomplete and has to be repeated by the
student.

Assessment Criteria
The following will be the assessment criterion for the course
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 Final Exam 40%
Mid Term 30%
Quizzes 30%
Eight best quiz will be counted.

Core Requirements

1. Calculator: (No Exceptions) CELL PHONES MAY NOT BE USED AS CALCULATORS.

2. Notebook Students are encouraged to take class notes, hence they must come prepared with
a notebook and a ball point pen or pencil in every class.
3. Name and ID displayed in zoom class along with video camera on..
4. The students are expected to solve the assigned problem sets in discussion sessions.

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 CALENDAR OF ACTIVITIES
1. Calendar Of Activities Winter 2021

Lecture Sessions Topic Discussion Section from book

1. Algebra refresher …
2. Linear and quadratic equations, solving linear and quadratic Handout +1.1 (Haeussler)
equations
3. Application of equations: profit, pricing, savings, revenue, sales 1.1 (Haeussler)
tax, investment, bond redemption
4. Linear inequalities, applications of inequalities 1.2, 1.3 (Haeussler)
5. Introduction to functions, domain and range of a function, 2.1 (Haeussler)
demand, supply and profit functions, demand and supply
schedule, value of business, depreciation
6. Special functions: polynomial, rational, piecewise defined 2.2,2.3 (Haeussler)
functions, Absolute value function, evaluation of such functions,
combining functions, Applications
7. Graphs of functions: linear, quadratic, piecewise defined 2.5,3.3 (Haeussler)
functions, graphing of quadratic functions by finding vertex
8. Applications on graphs: inventory, Debt payment, Pricing, 2.5,3.3 (Haeussler)
Revenue and profit, Demand and supply curves
9. Equation of a straight line, slope, intercept, parallel and 3.1 (Haeussler)
perpendicular lines
10. Applications: price-quantity relationship, production levels, cost , 3.1,3.2 (Haeussler)
revenue, demand and supply equations, Isocost line, Isoprofit
line, depreciation, appreciation
11. Systems of linear equations. Solving a system of linear equations 3.4 (Haeussler)
12. Nonlinear systems, solving nonlinear systems, Applications: 3.5,3.6 (Haeussler)
market equilibrium, break-even points, profit and loss, business
13. Limits: Graphical approach, properties of limit, limits of
polynomials and rational functions 1.5 (Hoffman)
14. Revision Revision
15. Midterm exam Midterm exam
16. Limits at infinity, infinite limits, Applications: Production 1.5 (Hoffman)
function, average cost, continuous compound interest
17. Continuity, Applications: Inventory, cost-benefit analysis, cost 1.6 (Hoffman)
management
18. The Derivative 2.1 (Hoffman)
19. Techniques of Differentiation 2.2 (Hoffman)
20. Product and Quotient Rule; Higher Order Derivatives, Business 2.3 (Hoffman)
and Economics applications
21. The Chain rule, The general power rule, Business and 2.4 (Hoffman)
Economics applications on chain rule
22. Marginal Analysis and Approximations 2.5 (Hoffman)

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23. Implicit Differentiation, Related Rates 2.6 (Hoffman)
24. Applications on implicit differentiation: Manufacturing, 2.6 (Hoffman)
demand rate, supply rate, L’Hopital’s Rule
25. Increasing and decreasing functions, First derivative test for 3.1 (Hoffman)
extrema
26. Concavity and points of Inflection, Second derivative test for 3.2 (Hoffman)
extrema
27. Optimization, Elasticity of demand 3.4 (Hoffman)
28. Additional applied optimization business and economics 3.1,3.2,3.3,3.5 (Hoffman)
applications
29. Revision
30. Final Exam. GOOD LUCK

2.

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