Unit Code: MTH412

Unit Name: Introduction to Business Mathematics

Description: The purpose of this course is to provide a foundation on Mathematics for students studying Business, Economics or Management courses. The course assumes minimal mathematical background but demonstrates the usefulness and relevance of basic mathematics in economics and business.

Learning Target Outcomes: On successful completion of this course, students will be able to:

1.2.1 Apply basic arithmetic operations to simplifying algebraic expressions.
1.2.2 Demonstrate the concept of straight line in mathematical modelling and applications in Supply, Cost and Revenue.
1.2.3 Apply the techniques of solving equations simultaneously and specifying the equilibrium and break even points.
1.2.4 Determine simple interest, compound interest, annual percentage rates and depreciation.
1.2.5 Apply the several techniques of differentiation and integration in economic applications in maximum or minimum
1.2.6 Operate using first-order differential equations and solve relating applications
1.2.7 Sketch and specific feasible regions in Linear programming problems.
1.2.8 Determine Matrix determinants and apply it to solve a system of linear equations.

Prerequisite: Pass in Year 12 or Preliminary Mathematics

Prerequisite Sentence: N/A

Credit Point: 12

Offered In: Semester 2