Course Title: Business Mathematics

Course Code: AcFn2131

Credit Value of the course: 3 ETCTS
Block Description:
Mathematics for management is designed to expose management students to the basic concepts and areas
of managerial application of mathematics. Topics include: Matrix theory and application, Mathematical
functions and their use as model, Mathematics of finance, linear programming, Elements and application
of calculus.

Course Content of Mathematics for Management

Chapter Title of the chapter Reference Chapter and Duration of

page The Chapter
1.0 Mathematical functions and their models
Chapter 1.1. Linear mathematical models
one 1.1.1. Straight-line fittings Mathematics
1.1.2. Cost Revenue profit For 36 to 50
analysis Management
1.1.3. Break-even analysis
10 hours
1.1.4. Break-even chart
Rational functions models
1.2.1. Average cost
1.2.2..Average profit
1.2.3.Rate of profit

Chapter 2.0 Matrices theory and its application

two 2.1. Review on matrix Algebra
2.2 Gauss Jordan method of solving system of Mathematics 1 to 30 30.5 hours
linear equations. For
2.3 Inverse of matrix Management
2.3.1. Solving system of linear equations
2.3.2. Input-output model
2.3.3. Markov chain

3.0 Chapter 3: Linear Programming Mathematics

Chapter 3.1. Basic concepts For 53 to 84
Three 3.2. Graphic method of solving LPP Management
3.3. Algebraic (simplex) method of solving LPP 20.5 hours
3.4. Dual problem
Chapter 4.0 Mathematics of Finance
Four 4.1. Simple interest and Installment plan Mathematics
4.2. Amount and Present value of compound interest For 88 to 118
4.3. Present value and sum of ordinary annuity Management 30.5 hours
4.4. Amortization and Sinking fund payment
Chapter 5.0 Elements and applications of calculus
Five 5.1. Basic concept of Limits Mathematics
5.2. Derivative and rules of differentiation For 122 to 154 30.5 hours
5.3. Application of derivatives Management
 Maxima and minima first derivative
rule
 Maxima and minima second
derivative rules
5.4. Integration and rules of integration
5.5. Application of integration
 Area problems
 Total functions

Type of assignment Due Date % of Grade

Attendance Ongoing 3 points shall be deducted per
missed class
Home Task Two assignments 10points each assignment
Test Two tests 15 points each
Final exam End of the block 50 points

Text: Atsede Tesfaye; Mathematics for Management, 2010, AAU College of commerce.

Reading Materials

1. Ann J. Hughes, applied Mathematics; for Business, Economics, and the Social
Science, 1983
2. Bowen, Prichet, and Sabber, Mathematics with Applications in Management
and Economics, 1987
3. Raymond A. Barnett and Michael R. Ziegler, Applied mathematics for Business and Economics,
Life Sciences, and Social sciences, third edition, 1989.
4. Roland E. Larson and Bruce H. Edwards, Finite Mathematics with calculus, 1991
5. Paul F. Hoel, Finite Mathematics and Calculus with applications to business 19974,
6. Stephen P, Shao, Mathematics for management and finance gage publishing limited, Canada ed,
1979
7. Jagdishc ARYA and Robin W. Labdner, Mathematics Analysis for Business and Economics,
Prentice Hall Inc., 1981.
8. Lial/Miller, Mathematics with Application in the Management, Natural and Social Sciences,
Scott Foreman and Company Glenview Illinois, 2nd ed, 1979