JSBY1220 Mathematics for Business and Economics 1 (4 cr)

Regular number sequences and their applications for interest and loan calculation (arithmetic and geometric sequence, equal repayment and equal installment loans, periodic deposits, comparison of payment methods), basics of matrix calculation (definitions, basic calculations, determinant, Gaussian operations, inverse matrix, solving groups of equations using matrices) and linear optimization.

After completing the course, the student:
- masters the most typical interest and loan calculations and discovers their connections to regular number sequences
- masters the basic concepts and basic calculations of matrices, knows how to calculate the determinant and the inverse matrix and can solve groups of equations using matrices
- knows how to solve two-variable linear optimization problems.

Development of metaskills:
- critical thinking;
- data analysis and analytical reasoning;
- problem solving;
- the ability to understand mathematical material.

Actual teaching in period 2. At other times, independent study with the help of course materials and completion by exam.

Final exams are held at regular intervals throughout the year.

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Materials will be given during the course.

Possible literature if needed:
Ummer, E. K. 2012, Basic mathematics for economics, business, and finance, e-book, Chapter 1.10 excluding 1.10.6. (arithmetic and geometric series), Chapter 2 pages 81-108 (matrices), Chapter 5 pages 244-259 (linear programming, two variables only)
https://math.libretexts.org/ : Mathematics of finance