Business Mathematics
| Degree programme | International Business Administration |
| Subject area | Business and Management |
| Type of degree | Bachelor Full-time Winter Semester 2023 |
| Course unit title | Business Mathematics |
| Course unit code | 025008010201 |
| Language of instruction | German |
| Type of course unit (compulsory, optional) | Compulsory |
| Teaching hours per week | 3 |
| Year of study | 2023 |
| Level of the course / module according to the curriculum | |
| Number of ECTS credits allocated | 5 |
| Name of lecturer(s) | Elmar BENZ, Doris ENTNER, Igor VELKAVRH |
Mathematics at Matura level is a prerequisite. In particular the topics
- Types of numbers
- Calculation rules (brackets, power, multiplication/division first...)
- Percentage calculation
- Rule of three/final arithmetic
- Fractions
- Algebraic basics (factoring out, multiplying out, arithmetic laws, binomial formulae)
cannot be repeated in the course. This basic knowledge must be acquired independently if necessary.
- Basic principles of set theory
- Probability theory, multi-field tables
- Linear functions
- Quadratic functions
- Determining zeros
- Derivatives
- Integrals
- Solving systems of equations
- Growth functions
- Calculating interest and compound interest
- Economic functions
- Present value and internal rate of interest (net present value method)
- Calculation of annuity and redemption
In economics, interrelationships are regularly presented in a mathematical-functional way. Numerous cause-effect relationships and recommendations for action are quantitative in nature. In this respect, basic mathematical-quantitative skills are of great importance for students of international business administration.
Students are able to calculate simple derivatives and integrals. They are familiar with the basics of set theory and probability theory. They can name and mathematically determine the relationships of basic economic functions (demand, costs, profit, revenue) and are able to state the mathematical foundations of financial mathematical problems.
Students can use basic mathematical operations (fractions, power laws, equations) to describe e.g. financial mathematical and other economic problems and relationships. They can solve basic mathematical problems in the areas of fractions and powers and perform calculations with linear and quadratic functions.
Students are able to formulate equations for determining the present value, internal interest rate, annuity and redemption calculation and to solve simple financial mathematical problems (interest and compound interest calculation, percentage calculation, present value, annuity calculation).
Interactive course with lecture, case studies, exercises in individual and group work
Written exam
None
Albrecht, Peter (2014): Finanzmathematik für Wirtschaftswissenschaftler: Grundlagen, Anwendungsbeispiele, Fallstudien, Aufgaben und Lösungen. Stuttgart: Schäffer-Poeschel.
Arrenberg, Jutta (2012): Wirtschaftsmathematik für Bachelor. Konstanz: UVK Verlagsgesellschaft.
Asano, Akihito (2013): An Introduction to Mathematics for Economics. Cambridge: Cambridge University Press.
Hass, Otto; Fickel, Norman (2006): Finanzmathematik: finanzmathematische Methoden der Investitionsrechnung. München: R. Oldenbourg Verlag.
Kahle, Egbert; Lohse, Dieter (1992): Grundkurs Finanzmathematik. München: R. Oldenbourg Verlag.
Leydold, Josef (2003): Mathematik für Ökonomen. 3. Auflage. München: deGruyter Oldenbour.
Salomon, Ehrenfried; Poguntke, Werner (2003): Wirtschaftsmathematik. Troisdorf: Fortis-Verlag.
http://statistik.wu-wien.ac.at/~leydold/MOK/HTML/
http://statmath.wu.ac.at/courses/mvw_math/download/handouts/MVW-handouts-all-1x3.pdf
Classes without compulsory attendance supplemented by asynchronous teaching units for the presentation of elementary basics, which are assumed as given knowledge