East West University
Department of Economics
Semester: Spring 2017
Course Information
MAT 110: Mathematics for Business and Economics I
Credit: 3
Pre-requisite: ECO101, MAT100
Instructor Information
Gazi Quamrul Hasan
Room: 329
Contact: [email protected]
Contact No: +8801716136440 (You are encouraged to call if you can’t find me during office hour)
Teaching Assistant
TBA
Class Routine & Office Hours
08:30-10:00
10:10-11:40
Monday
MAT211(10)
114
Office Hour
Tuesday
MAT110(7)
113
Office Hour
Wednesday
MAT211(10)
114
Office Hour
Thursday
MAT110(7)
113
Office Hour
11:50-01:20
01:30-03.00
03.10-04.40
Sunday
Saturday
11:00-12:30
12:40-02:10
2:30-04:00
04:00-05:30
Office Hour
Office Hour
ECO465(2)
335
ECO465(2)
335
Course Objective
This course requires prior knowledge on the topics of differentiation and matrix algebra covered in MAT100 or in
higher secondary level. This course aims to introduce the concepts of Business, Microeconomics and
Macroeconomics using advanced mathematical tools. At the end of the course, students will be able
1.
2.
3.
To use differentiation in economics and business
To understand and apply matrix and the concepts of present value in real life.
To implement the knowledge of partial derivatives in comparative equilibrium analysis
Course Description
This course focuses on the topics related to number system, function and graphs, linear function and straight line,
quadratic function and parabolas, exponential and logarithmic functions and their applications in simple and
compound interest rates, effective rate, concepts of future value and present value of an annuity, solving a system
of linear equations, matrices and their applications, static equilibrium analysis- linear model. Concepts of
comparative static and derivatives, partial and total differentiation with application, optimization problem
(unconstrained) with one or more than one choice variables and their applications in economics and business
model.
Text Books
1.Alpha.C. Chiang. Fundamental Methods of Mathematical Economics, Fifth Edition
2. Michael Hoy, John Livernois, Chris Mckenna, Ray Rees. Mathematics for Economics, Second Edition
3. Raymond A. Barnett, Michael R. Zeigler, Karl E. Byleen. Applied Mathematics for Business, Economics, Life Sciences
and Social Sciences.
Supplementary Text Books
1. Edward T. Dowling. Mathematical Economics, Third edition
Course Contents & Tentative Teaching Schedule
Class
Topic
Teaching Material
1
Number system
Lecture and Textbook
2
Function and graphs
As above
3
Linear Function and straight lines
As above
4
Static equilibrium analysis- linear model.
As above
5
Concepts of comparative static and derivatives
As above
6
partial and total differentiation with application
As above
7
matrices and their applications
As above
8
matrices and their applications
As above
9
solving a system of linear equations
As above
10
Midterm 1 exam
11
optimization problem (unconstrained) with one choice variable
As above
12
optimization problem (unconstrained) with one choice variable
As above
13
optimization problem (unconstrained) with two choice variables
As above
14
optimization problem (unconstrained) with two choice variables
As above
15
Applications of optimization problem in business and economics
As above
16
Applications of optimization problem in business and economics
As above
17
Midterm 2 exam
18
Quadratic function and parabolas
As above
19
Exponential and logarithmic functions
As above
20
Applications in simple and compound interest rates
As above
21
Effective rate, concepts of future value
As above
22
Concepts of present value of an annuity
As above
23
Final exam
Score Distribution
Course Part
Mark (%)
Assignments and quizzes
Mid Term Ι Exam
15%
25%
Mid Term ΙΙ Exam
Term Final Exam
25%
30%
Attendance
5%
Grading Policy
Marks (%)
Letter Grade
Grade Point
Marks (%)
Letter Grade
Grade Point
97-100
A+
4.00
73-76
C+
2.30
90-96
A
4.00
70-72
C
2.00
87-89
A-
3.70
67-69
C-
1.70
83-86
B+
3.30
63-66
D+
1.30
80-82
B
3.00
60-62
D
1.00
77-79
B-
2.70
Below 60
F
0.00
Examination Schedule
Examinations will be taken as per University Schedule
Learning Outcomes




Understand single and multiple commodity markets
Understand number system
Understand function and graphs
Understand matrix and their application in business and economics


Be able to use present value and future value of an annuity
Be able to analyze static equilibrium and comparative static.
Special Instructions



No make up exams and make up class quizzes except for serious compelling reasons.
No comprehensive exams. Each exam will consist of its own respective part.
No cellular phone during class hour.
Best of Luck