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 , Thursday 8:40-11:30, Office: E 206, E Building
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 Informatics (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	Equations
2	Demand, Supply
3	Quadratic Functions
4	Logarithm, Exponential Function.
5	Series
6	Compound Interests
7	Investment
8	Matrix. Inverse matrix.
9	Cramer's rule.
10	Method of reduction.

COURSE OUTLINE

Week	Topics
1	Algebraic solution of simultaneous linear equations. Chapter 1: The main aim of this chapter is to introduce the mathematics of linear equations. 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 (6-66).
2	Supply and demand analysis. Chapter 1 (continue): 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)
3	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)
4	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)
5	Basic matrix operations. Matrix inversion. Chapter 7: This section introduces matrix operations of addition, subtraction and multiplication, determinant and inverse of a matrix 2x2 or 3x3. (Pages 524 - 540)
6	Cramer`s rule. Method of reduction. Chapter 7 (continue): This section introduces two methods for solving systems of linear equations. (Pages 545 - 573)
7	Review. Exercises. Quiz 1.
8	Midterm Exam
9	The exponential and natural logarithm 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 (151-185)
10	Percentages. Compound interest. Chapter 3: This section revises work on percentages. In particular, a quick method of dealing with percent- age increase and decrease calculations is described. Percentages are used to calculate and interpret index numbers, and to adjust value data for inflation. Also, 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 (198-228)
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	Quiz 2.

Prerequisite(s):	NA
Textbook(s):	Ian Jacques, Mathematics for Economics and Business, Pearson Tenth Edition 2023
Additional Literature:	F. Haeussler Jr., Richard S. Paul, Richard J. Wood - Introductory Mathematical Analysis, Pearson Fourteenth Edition 2019
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	Use matrices to solve systems of linear equations.
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 Informatics (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	Integrate different skills and approaches to be used in decision making and data management.	4
6	Combine computer skills with managerial skills, in the analysis of large amounts of data.	5
7	Provide solutions to complex information technology problems.	4
8	Recognize, analyze, and suggest various types of information-communication systems/services that are encountered in everyday life and in the business world.	4

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	35
Quiz	2	10
Final Exam	1	45
	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

I do not tolerate cheating, or any type of academic dishonesty. If caught, student will immediately receive a failing grade.