Maths in Economics

obowiązkowe

ECONOMICS International Business

1

obowiązkowe

1. knowledge: student knows basic principles of algebra

2. intellectual skills : student performs the elementary algebraic operations,

student solves simple equations and inequalities

3. social skills: student is aware of the need for further education

Mathematics. Michna, Zbigniew. 2012 | Wrocław : Publishing House of Wrocław University of Economics

Mathematics in economics / edit. Emil Panek. 2009. Wydawnictwo Uniwersytetu Ekonomicznego (Poznań)

Mathematics in economics and management : examples and exercises / Marcin Anholcer. Wydawnictwo Uniwersytetu Ekonomicznego (Poznań)

2015

Selected topics in mathematics : a primer for economists / Marta Kornafel.

Wydawnictwo Uniwersytetu Ekonomicznego (Kraków) Wydawca 2019.

Individual solving of the lists of exercises (based on the solved exercises during the classes).

After the course the student will be able to:

- understand and use the basic concepts and tools of higher mathematics which are necessary in modern management,

- notice applications of higher mathematics to everyday economical and management problems,

- apply analytical reasoning and propose quantitative models of o real-world problems,

- use mathematical ideas to solve real-world problems.

Concept of a function, basic types of functions (examples of application: cost function, total revenue (income) function, profit function, demand and supply functions).

Derivative of functions of one variable (examples of application: marginal cost, marginal revenue, marginal profit).

Maxima and minima of functions of one variable, monotonicity intervals, concavity, convexity, points of inflection (examples of application: cost minimization, profit maximization).

Derivative of functions of two variable, maxima and minima of functions of two variables (examples of application: marginal analysis, optimization).

Indefinite integral and definite integral (example of application: marginal analysis).

Matrices, elementary operations performed on matrices, determinant of a matrix, matrix inversion (example of application: range of values of resources for which production is non-negative).

Systems of linear equations (examples of application: breakeven analysis, market equilibrium).

Systems of linear inequalities (example of application: optimization in the solution set of a system of linear inequalities).

Mathematics. Michna, Zbigniew. 2012 | Wrocław : Publishing House of Wrocław University of Economics

Mathematics in economics / edit. Emil Panek. 2009. Wydawnictwo Uniwersytetu Ekonomicznego (Poznań)

Mathematics in economics and management : examples and exercises / Marcin Anholcer. Wydawnictwo Uniwersytetu Ekonomicznego (Poznań)

2015

Selected topics in mathematics : a primer for economists / Marta Kornafel.

Wydawnictwo Uniwersytetu Ekonomicznego (Kraków) Wydawca 2019.

KNOWLEDGE

Name properties of elementary functions.

Identify when there is need to find extreme points of a function.

Define an integral.

Explain basic operations on matrices.

SKILLS

Notice and apply elementary functions in complex formulas.

Use the rules of differentiation, i.e., calculate the derivative of a given function.

Find the maximum and minimum value of a given function.

Use the techniques of integration.

Perform the elementary operations on matrices.

Use the matrix algebra to solve a given system of linear equations.

Use the matrix algebra to solve a system of linear inequalities.

Use derivatives to analyze functions.

Identify when to use matrices or vectors.

Identify when to use systems of linear equations or inequalities.

SOCIAL COMPETENCE

Organize his work and deepen his knowledge

Methods: lecture, discussion, tasks solving

Assessment criteria: obtaining at least 50% of points from written tests, activity and participation in exercises

Grading system

0 - 49% fail (2)

50% - 59% satisfactory (3)

60% - 69% more than satisfactory (3+)

70% - 79% good (4)

80% - 89% very good (4+)

90% - 100% excellent (5)

not applicable