Business Mathematics

URL study guide

https://studiegids.vu.nl/en/courses/2024-2025/E_IBA1_BUSM

Course Objective

ACADEMIC AND RESEARCH SKILLS – STUDENTS CAN CONDUCT A BASIC INTERNATIONAL RESEARCH PROJECT FROM START TO FINISH Academic Skills After successfully completing this course, the student can
• perform key mathematical operations. Research Skills After successfully completing this course, the student can:
• solve basic real-world problems by using mathematical techniques. BRIDGING THEORY AND PRACTICE KNOWLEDGE: This course teaches basic mathematical techniques used in the theory and practice of international business administration. In particular, after successfully completing this course students are able to select and apply the right mathematical technique for business problems and properly use mathematical notation (both passively and actively). Moreover, students learn about:
• Calculus (differentiation and integration) and its applications.
• Linear algebra including the solutions of linear equations as well as vector and matrix algebra.
• Optimization techniques.
• Auxiliary topics useful in the field of business mathematics including the use of MS Word for mathematical typesetting and Microsoft Excel for data analysis and plotting as well as performing mathematical operations. APPLICATION: Can propose a solution to an international real-life business problem by applying relevant theories and methodologies. After successfully completing this course, the student can:
• read and write texts in which mathematics occurs;
• use standard software for solving mathematical problems.

Course Content

Mathematics is pivotal for international business students, offering indispensable insights and skills crucial for success. From crafting robust business strategies to managing resources effectively, mathematical proficiency is non-negotiable. This course delves into the foundational principles of multi-variable calculus, linear algebra, and optimization—the bedrock of modern business modeling. Additionally, it equips students with practical spreadsheet proficiency, essential for real-world applications. Beyond calculations, mathematics serves as a universal language, fostering analytical thinking indispensable for academic and professional endeavors alike. Embrace the power of quantitative approaches and elevate your capacity to tackle business challenges head-on.

Teaching Methods

Lectures Tutorials, Computer Tutorials

Method of Assessment

Digital exams – individual assessmentWritten exam – individual assessment

Literature

Textbook: Sydsæter, Knut, Peter Hammond, Arne Strøm and Andréas Carvajal (2021), Essential Mathematics for Economic Analysis, sixth Edition, Pearson Education Additional documents via Canvas.

Additional Information

You will work with the software packages Word (including the equation editor) and Excel (including the Solver add-in). These programs are available on computers at the VU campus. You may wish to purchases a cheap license for home use at http://www.surfspot.nl/. At the intermediate tests we use the English language versions for Windows.

Entry Requirements

n/a

Recommended background knowledge

Active command of mathematics at high school level. It can be helpful to refresh your skills in advance. VU offers an online summer school for this (see http://sbe.prep-campus.nl/).