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Mathematical Economics 1

Module name (EN):
Name of module in study programme. It should be precise and clear.
Mathematical Economics 1
Degree programme:
Study Programme with validity of corresponding study regulations containing this module.
Business Administration, Bachelor, ASPO 01.10.2016
Module code: BBWL-140
The exam administration creates a SAP-Submodule-No for every exam type in every module. The SAP-Submodule-No is equal for the same module in different study programs.
Hours per semester week / Teaching method:
The count of hours per week is a combination of lecture (V for German Vorlesung), exercise (U for Übung), practice (P) oder project (PA). For example a course of the form 2V+2U has 2 hours of lecture and 2 hours of exercise per week.
6V (6 hours per week)
ECTS credits:
European Credit Transfer System. Points for successful completion of a course. Each ECTS point represents a workload of 30 hours.
Semester: 1
Mandatory course: yes
Language of instruction:
Written exam (90 min. / Can be repeated semesterly)

[updated 02.01.2019]
Applicability / Curricular relevance:
All study programs (with year of the version of study regulations) containing the course.

BBWL-140 (P420-0163) Business Administration, Bachelor, ASPO 01.10.2012 , semester 1, mandatory course
BBWL-140 (P420-0163) Business Administration, Bachelor, ASPO 01.10.2016 , semester 1, mandatory course
BBWL-2020-140 (P420-0163) Business Administration, Bachelor, ASPO 01.10.2020 , semester 1, mandatory course
Workload of student for successfully completing the course. Each ECTS credit represents 30 working hours. These are the combined effort of face-to-face time, post-processing the subject of the lecture, exercises and preparation for the exam.

The total workload is distributed on the semester (01.04.-30.09. during the summer term, 01.10.-31.03. during the winter term).
90 class hours (= 67.5 clock hours) over a 15-week period.
The total student study time is 150 hours (equivalent to 5 ECTS credits).
There are therefore 82.5 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
Recommended as prerequisite for:
BBWL-240 Mathematical Economics 2 and Statistics 1
BBWL-250 Microeconomics
BBWL-310 Investment and Financing

[updated 02.03.2020]
Module coordinator:
Prof. Dr. Teresa Melo
Lecturer: Prof. Dr. Teresa Melo

[updated 01.10.2016]
Learning outcomes:
After successfully completing this module, students will be able to:
- model economic problems in the language of mathematics,
- explain the basic formalities of differential and integral calculus, as well as matrix calculus,
- be able to test fundamental mathematical methods of analysis and linear algebra
  using examples,
- be able to demonstrate the properties and possible applications of mathematical analysis methods and linear algebra and assess their limits,
- be able to economically interpret and implement the results obtained by means of mathematical methods,
- have mastered basic concepts and calculation methods of financial mathematics with regard to interest, annuity and sinking fund calculations,
- have developed analytical skills by independently solving tasks in the subject area.
Differential calculus:

[updated 02.01.2019]
Module content:
- Functions of a variable, differentiation rules
- Application of differential calculus to basic business functions
- Functions with several variables, partial derivatives,  
  extreme values with and without consideration of constraints
Integral calculus:
- Root functions, elementary integration rules
- Special integration techniques: partial integrations, substitution
- Specific integral and economic applications of integral calculus
Elements of financial mathematics:
- Interest-rate models
- Annuity calculation
- Sinking fund calculation
Basics of linear algebra:
- Description of business processes using matrices (e. g. production processes)
- Elementary calculations with matrices, matrix multiplication
- Creation of linear systems of equations and solution methods (e. g.
  Gauss algorithm)

[updated 02.01.2019]
Teaching methods/Media:
Lecture and discussion in a large group using transparencies (projector) and the blackboard (theory and example calculations).
The lecture will be supplemented by exercises and tutorials. In order to support independent work, a large number of exercise sheets covering the wide range topics in this module will be provided. Afterwards, the solutions will be discussed with the students.
Both the lecture notes and the exercise sheets will be available to students in electronic form.

[updated 02.01.2019]
Recommended or required reading:
- Karmann, Mathematik für Wirtschaftswissenschaftler, 6. Auflage, Oldenbourg
  Verlag, München/Wien, 2008
- Luderer, Einstieg in die Wirtschaftsmathematik, 8. überarb. u. erw. Auflage,  
  Vieweg+ Teubner, Wiesbaden, 2011
- Salomon/Poguntke, Wirtschaftsmathematik, 2. Auflage, Fortis Verlag, Köln, 2003
- Sydsaeter/Hammond, Mathematik für Wirtschaftswissenschaftler: Basiswissen mit
  Praxisbezug, 3. Auflage, Pearson Studium, München, 2008
- Tietze, Einführung in die angewandte Wirtschaftsmathematik, 15. Auflage,
  Vieweg, Wiesbaden, 2010
- Tietze, Einführung in die Finanzmathematik - Klassische Verfahren und neuere
  Entwicklungen: Effektivzins- und Renditeberechnung, Investitionsrechnung,   
  Derivative Finanzinstrumente, 10. aktualisierte Auflage, Vieweg+Teubner,
  Wiesbaden, 2010

[updated 02.01.2019]
[Thu Sep 21 13:47:47 CEST 2023, CKEY=bw1b, BKEY=bbw2, CID=BBWL-140, LANGUAGE=en, DATE=21.09.2023]