Course - Mathematics for Business - MET1001
Mathematics for Business
About
About the course
Course content
The course treats basic mathematical concepts and methods of analysis and supports the appropriation of mathematical representations in other parts of the study programme. The following themes will be treated:
- Elementary algebra (including solving equations and systems of equations)
- Functions of one variable (including polynomial functions, rational functions, exponential functions, logarithmic functions and compound functions)
- Differentiation and application of differentiation. Problems related to maximum and minimum
- Implicit differentiation and elasticities
- Sequences, series and sums (including arithmetical series, geometric series, infinite series and convergence)
- Finance mathematics (including savings, present value, loan, annuities)
- Integration (only for simple polynomial- and natural exponential functions)
- Functions of several variables (including Cobb-Douglas functions)
- Partial differentiation. Problems related to maximum and minimum for functions of several variables
- Lagranges method
Learning outcome
Knowledge: The student
- knows and understands basic mathematical concepts
- knows and understands mathematical analysis of functions
- knows and understands mathematical modelling
Skills: The student
- masters a wide range of algebraic operations
- is able to analyze different types of mathematical functions
- is able to use mathematics and mathematical models to analyze economic problems
General competence: The student
- has developed an ability for logical thinking
- has a understanding of the possibilities of mathematics and its limitations as a tool in economic problems
Learning methods and activities
Lectures, exercises, a small preparatory course and supplementary lectures for students who feel that their previous knowledge in mathematics is insufficient.
Compulsory assignments
- Work Requirements
Further on evaluation
Work requirements must be approved in order to gain admission to the exam. Form and extent of the work requirements is specified at the start of the term. Approved assignments from earlier years are valid until substantial changes are done with respect to course content.
Other calculators that are allowed in the course are: Casio FC-100V and Texas Instruments - BAII Plus.
Re-sit exam is held in August.
In case of a re-sit exam or the final exam when the course is no longer being taught, the exam may be changed to an oral exam.
Recommended previous knowledge
A good foundation in mathematics (S1 + S2/R1 or equivalent) is recommended
Required previous knowledge
None
Course materials
Syllabus: Dovland, O.G. and P. Pettersen. Matematikk for økonomistudenter, last edition. Bergen: Fagbokforlaget. This may be subject to modification.
Credit reductions
| Course code | Reduction | From |
|---|---|---|
| ME110 | 6 sp | Spring 2004 |
| ME110 | 6 sp | Spring 2004 |
| MET8002 | 7.5 sp | Spring 2007 |
| SØK1001 | 7.5 sp | Spring 2017 |
| AR100914 | 7.5 sp | Spring 2017 |
| REA1131 | 5 sp | Spring 2017 |
| AR100919 | 7.5 sp | Autumn 2019 |
| REA1153F | 7.5 sp | Autumn 2023 |
Subject areas
- Economics and Administration