COURSE INFORMATION Course Title: MATH. FOR ECONOMICS AND BUSINESS I

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
BUS 101	A	1	4	0	0	4	5

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	M.Sc. Sidorela Meta smeta@epoka.edu.al , Monday 9:45-10:30, Wednesday 10:45-11:30, Thursday 10:45-11:30 (E-206)
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Compulsory
Study program: (the study for which this course is offered)	Bachelor in Business Administration (3 years)
Classroom and Meeting Time:	Check Timetable
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	75%
Course Description:	Mathematics for Economics and Business I: The aim of the courses is that the student be familiar with a wide variety of mathematical concepts. 1. The rate of change of function, Equations for lines, Functions and graphs, absolute values, limits continuity. 2. Derivates. 3. Applications of derivatives. Curve Sketching, Maxima and Minima, The Eigen value theorem. 4. Integration, Indefinite Integrals, Definite Integrals, Applications of Definite Integrals. 5. Transcendental functions Inverse Functions, Exponential and Logarithmic Functions. 6. Mathematics of Finance. 7. Introduction to Probability and statistics.
Course Objectives:	To provide students with solid training in fundamental theories in both mathematics and economics. To equip students with quantitative reasoning skills, conceptual understanding, and the ability to effectively communicate in mathematics and in the language of economics and social science.

BASIC CONCEPTS OF THE COURSE

1	Linearity
2	Equations
3	Demand, Supply
4	Quadratic Functions
5	Logarithm
6	Cost, Profit
7	Exponential Function
8	Series
9	Compound Interests
10	Investment

COURSE OUTLINE

Week	Topics
1	Introduction to algebra, graphs of linear equations. Chapter 1: The main aim of this chapter is to introduce the mathematics of linear equations. This is an obvious first choice in an introductory text, since it is an easy topic which has many applications. There are seven sections, which are intended to be read in the order that they appear. methods. They serve to revise the rules of arithmetic and algebra, which you probably met at school but may have forgotten. In particular, the properties of negative numbers and fractions are considered. Pages (6-20).
2	Solution of simultaneous equations. Transposition formula. Chapter 1 (continue) : It is shown how to solve simultaneous linear equations. Systems of two equations in two unknowns can be solved using graphs. However, the preferred method uses elimination. This algebraic approach has the advantage that it always gives an exact solution and it extends readily to larger systems of equations. Pages (55-66).
3	Supply and demand analysis. Chapter 1 (continue): There is a lot of economic theory that you can analyze using just the basic mathematical tools considered here. This section introduces the fundamental concept of an economic function and describes how to calculate equilibrium prices and quantities in supply and demand theory. Pages (67-82)
4	Quadratic functions. Chapter 2: This section investigates the simplest non-linear equation, known as a quadratic. A quadratic equation can easily be solved either by factorizing it as the product of two linear factors or by using a special formula. It is shown how to sketch the graphs of quadratic functions. The techniques are illustrated by finding the equilibrium price and quantity for quadratic supply and demand functions. Pages (122-137)
5	Revenue cost and profit. Chapter 2 (continue) : This section introduces additional functions in microeconomics, including revenue and profit. There is very little new material in this section. It mainly consists of applying the ideas of the other section to sketch graphs of quadratic revenue and profit functions and to find their maximum values. Pages (140-150)
6	Indices and logarithms. Chapter 2 (continue): The topic of algebra, is completed by investigating the rules of indices and logarithms. The basic concepts are covered in this section. The notation and rules of indices are extremely important and are used frequently in subsequent chapters. Pages (151-170)
7	Exponential and natural logarithmic functions. Chapter 2 (continue): This section focuses on two specific functions, namely the exponential and natural logarithm functions. If you run into difficulty, or are short of time, then this section could be omitted for the time being, particularly if you do not intend to study the next chapter on the mathematics of finance. Pages (172-185)
8	Percentages. Chapter 3: This section revises work on percentages. In particular, a quick method of dealing with percent- age increase and decrease calculations is described. This enables an overall percentage change to be deduced easily from a sequence of individual changes. Percentages are used to calculate and interpret index numbers, and to adjust value data for inflation. Pages (198-213)
9	Midterm Exam
10	Compound Interest. Chapter 3 (continue): This section shows how to calculate the future value of a lump sum which is invested to earn interest. This interest can be added to the investment annually, semi-annually, quarterly or even more frequently. The exponential function is used to solve problems in which interest is com- pounded continuously. Pages (216-228)
11	Geometric series. Chapter 3 (continue): A wide variety of applications are considered in this section Here, a mathematical device known as a geometric progression, which is used to calculate the future value of a savings plan and the monthly repayments of a loan, is introduced. Pages (230-239)
12	Investments appraisal. Chapter 3 (continue): This section describes the opposite problem of calculating the present value given a future value. The process of working backwards is called discounting. It can be used to decide how much money to invest today in order to achieve a specific target sum in a few years’ time. Discounting can be used to appraise different investment projects. On the macroeconomic level, the relationship between interest rates and speculative demand for money is investigated. Pages (241-255)
13	Review / Exercises
14	Final exam

Prerequisite(s):	NA
Textbook(s):	Ian Jacques, Mathematics for Economics and Business, Pearson ninth edition 2018
Additional Literature:	1. Essential Mathematics for Economic Analysis, Pearson fifth Edition 2016, Knut Sydsaeter, Peter Hammond, Arne Strom &Andres Carvajal 2. Matematika për ekonominë dhe biznesin 1, Lesione për fakultetet ekonomike, Vasil Lino
Laboratory Work:	NA
Computer Usage:	NA
Others:	No

COURSE LEARNING OUTCOMES

1	Solve linear equations and inequalities.
2	Solve a system of two simultaneous linear equations in two unknowns using elimination.
3	Identify and sketch a linear demand/supply function.
4	Determine the equilibrium price and quantity for a single-commodity market both graphically and algebraically.
5	Set up simple macroeconomic models.
6	Solve quadratic inequalities using graphs or sign diagrams.
7	Determine equilibrium price and quantity given a pair of quadratic demand and supply functions.
8	Find the level of output that maximizes total revenue or profit.
9	Solve problems involving a percentage increase or decrease.
10	Calculate the future/present value of a principal under annual/continuous compounding.

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Bachelor in Business Administration (3 years) Program
1	Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics.	5
2	Apply key theories to practical problems within the global business context.	4
3	Demonstrate ethical, social, and legal responsibilities in organizations.	5
4	Develop an open minded-attitude through continuous learning and team-work.	4
5	Use technology to enable business growth and sustainability.	4
6	Analyze data to make effective decisions.	5

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	30
Project	1	10
Final Exam	1	50
Attendance		10
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	4	64
Hours for off-the-classroom study (Pre-study, practice)	16	2	32
Mid-terms	1	10	10
Assignments			0
Final examination	1	14	14
Other	5	1	5
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5

CONCLUDING REMARKS BY THE COURSE LECTURER

NA