Mathematics For Management

ADMAS UNIVERSITY
FACULTY OF BUSINESS
DEPARTMENT OF BUSINESS MANAGEMENT
COURSE OUTLINE
Course Title Mathematics for Management

Course Code BMgt 2072
Credit Hours 3hrs
Prerequisites No Prerequisites
Program BA Degree in Business Management
Academic Year
Instructor Name
Course Coordinator
Department Head
Course Description The course mathematics for management is the course that bring light to
the students’ knowledge about the quantitative approach of decision
making and top Management: it also elaborates about the business
alternatives and decision making based on quantitative approach, about
the main methods of matrix application, the main ways of optimization
of constrained resource, and utilization of calculus and differentiation,
the main determination mathematics of finance.
Course Objective At the end of this course students will be able to:
Differentiate the various techniques of mathematics that can be
employed in solving business problems
Know the way these mathematical techniques are utilized
Appreciate the importance of mathematics in solving real world
business problems
Use different mathematical techniques for supporting managerial
Decisions
COURSE CONTENTS
Time
Chapter Topic
allotted
LINEAR EQUATIONS AND THEIR INTERPRETATIVE
1 8hrs
APPLICATIONS
1.1. Linear Equations, Functions and Graphs
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1.2. Characteristics of linear equation
1.3. Applications of Linear Equations: Linear Cost Output Relations
Revenue, and Total Profit, and Break-Even Analysis:
2 MATRIX ALGEBRA AND ITS APPLICATIONS 9hrs
2.1. Matrix Concepts
2.2. Dimensions and Types of Matrices
2.3. Matrix Operations and Techniques
2.4. Inverse of a Matrix
2.5. Matrix Applications: Solving Systems of Linear Equations and
Markov Chains:
3 ELEMENTS AND APPLICATIONS OF CALCULUS 10hrs
3.1. Differential Calculus: Concept, Rules and First and Second
Derivative for Extreme
3.2. Business Application of Differential Calculus: Marginal
Analysis and Optimization Problems
3.3. Integral Calculus: Concept, Indefinite and Definite
Integration, Rules and Business Applications of Integral calculus
Finding Total functions and Area problems
4 INTRODUCTION TO LINEAR PROGRAMMING 9hrs
4.1. Concepts
4.2. Formulation of Linear Programming Models
4.3. Graphic method of Linear Programming Problem
5 MATHEMATICS OF FINANCE 10hrs
5.1.Overview of exponential and logarithmic functions
5.2.Simple Interest and Discount: Computing Simple Interest
5.3.Compound Interest: Compound Amount, Present and Future
Value
5.4.Nominal and Effective Interest Rate
5.5.Ordinary Annuities: Sum of Ordinary Annuity, Sinking Fund
Payments, Present Value of Ordinary Annuity and Amortization
He/she will come to the class regularly on time and deliver the
Roles of lecture and/r library class in a well-organized manner. Besides, at
the
the end of each class he/she gives reading assignment for the next
Instructor
class. He/she will make sure that a proper assessment is given.
He/she is also responsible to give feedback for each assessment
The success of this course depends on the students‟ individual
Roles of and collective contribution to the class discussions. Students are
the
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students
expected to participate voluntarily, or will be called upon, to
contribute to set exercises and problems. Students are also
expected to read the assigned readings and prepare the cases
before each class so that they could contribute effectively to
class discussions. Students must attempt assignments by their
own. Proficiency in this course comes from individual
knowledge and understanding. Copying the works of others is
considered as serious offence and leads to disciplinary actions.
TEACHING AND LEARNING METHODS
Lecture, worksheet exercise,
group discussion, individual and group reflections,
problem solving, tutorials
Assessment Assessment Methods Coverage Points

Assessment 1 Test 1 Chapter 1 10
Assessment 2 Individual Assignment Chapter 2 10
Assessment 3 Group Assignment Mathematical 10
application
Assessment 4 Demonstration Demonstration 10
Assessment 5 Class activity and 10
Participation
Assessment 6 Final Exam All chapters 50
Total Points 100
Text:
Bowen Earl K et. Al, 2016, Mathematics with applications in Business and
Economics,
References:
Barnett Raymond A. and Ziegler Michael R, Essentials of College Mathematics
for business and Economics, life science and social science, 3rded., 2006
Ann J. Hughes, Applied Mathematics: For Business, Economics, and the social
Science, 1983.
Ronald E. Larson and Bruce H. Edwards, Finite Mathematics with Calculus, 1991
Ronald J. Harshbager and James J. Reynolds, Mathematics Applications.
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Ronald J. Harshbager and James J. Reynolds, Finite Mathematics, 3rdEd.
Hole Poul G., Finite Mathematics and Calculus with Applications to Business,
1974.
Dexter j Booth and John K Turner, Business mathematics with Statistics, 1996,
Teresa Bradley and Paul Patton, “Essential Mathematics for Economics and
Business’, Jon Wiley and Sons, December 1999.
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