INFORMATION AND COMMUNICATIONS UNIVERSITY

SCHOOL OF HUMANITIES AND BUSINESS MANAGEMENT

DEPARTMENT OF ECONOMICS AND BUSINESS

EC 111 HIGHER MATHEMATICS 1 (H & B)

BACKGROUND AND RATIONALE

This course provides an introduction to basic concepts and techniques of mathematics,
emphasizing their inter-relationships and applications to social sciences in today’s business world
by developing students with problem solving skills. Moreover, it empowers learners to become
more effective members of society and provide a framework for analysis of problems and the
development of appropriate solutions.

LEARNING OUTCOMES
By the end of this course it is expected that the students will:
• Demonstrate an understanding of basic concepts and techniques in mathematics.
• Demonstrate an understanding of basic concepts in linear algebra and it’s applicability to
everyday business.
• Demonstrate skills in writing mathematics which are a solid foundation to higher
quantitative courses.
• Be able apply logical thinking to problem-solving in context.

CONTENTS:
1. SET THEORY
• Sets Notations and Operations
• Sets of Numbers (Rational, Irrational and Real Numbers)
https://www.youtube.com/results?search_query=set+theory

2. BASIC THEOREM
• Basic operation rules
• Solving equations
• Fractions
• Radical equations (surds)
• Dividing multinomials
• Real numbers on the plane
https://www.youtube.com/results?search_query=basic+theorem

3. FUNCTIONS AND INEQUATIONS

• Mathematical modelling and Operations expressions
• Factorizing, fractions, linear equations and quadratic equations
 • Linear inequalities, non-linear equations and absolute values
• Applications of equations and inequations
https://www.youtube.com/results?search_query=functions+and+inequations

4. FUNCTIONS AND GRAPHS

• Definition of a function
• Special functions and combination of functions
• Plotting functions in rectangular co-ordinates
• Inverse functions and transformations
https://www.youtube.com/results?search_query=functions+and+graphs

5. TYPES OF FUNCTIONS
• The straight line and applications
- An introduction to Demand, Supply, Cost, Revenue and Translations
- Elasticity of Demand, Supply and Income Budget
- Cost Constraints
https://www.youtube.com/results?search_query=types+of+functions+%2B+the+straight+line+an
d+applications
• Simultaneous equations
- Finding solutions for simultaneous linear and non-linear equations
- Finding the equilibrium and break-even points of the functions given
- Determining the consumer and producer surplus
- The national income model and the IS-LM model
- An introduction to linear programming, ( LP), formulating the problem, graphical
solutions to (LP)
https://www.youtube.com/results?search_query=types+of+functions+%2B+simultaneous+equati
ons

6. MATRIX ALGEBRA
• Definition
• Matrices as stores of data
• Organizing and handling business data
• Matrix addition, subtraction, scalar multiplication, matrix multiplication
• Method of reduction, inverse, determinant, Cramer’s rule
• Inverse using ad-joint, input-output analysis, markov-chains transition matrices
• Probability matrices and how they apply to problems such as market shares of goods and
graph theory
https://www.youtube.com/results?search_query=matrix+algebra

Course Assessment:
• CA - 40% (1 Assignment and 2 Tests)
• Final Exam - 60%
Text Books:
Required:
• Ernest F Haeussler, Jr., Richard S Paul, Introductory Mathematical Analysis for
Business, Economics, and the Life of Social Sciences
• Teresa Bradley and Paul Patton, Essential Mathematics for Economics and Business
• F.P. Tailoka, Calculus for Business and Economics

Recommended:
• Jagdish C Arya and Robin W Lardner, Mathematical Analysis for Business,
Economics, and the Life of Social Sciences
• J. Black and J. F. Bradley, Essential Mathematics for Economics
• Martin Anthony and Norman Biggs, Mathematics for Economics and Finance
Methods and Modeling

Note: Students will only be permitted to write the examination if they have submitted all the
assignments before the final examinations

Mr. Joseph Kaputula