Course Information Package
|Course Unit Title||BUSINESS MATHEMATICS|
|Course Unit Code||AMAT110|
|Course Unit Details||BA Business Administration (DL) (Compulsory courses) - BA Business Administration (Required Courses) - BSc Marketing with Digital Technologies (Required modules) - BSc Maritime Studies (Required Courses) -|
|Number of ECTS credits allocated||5|
|Learning Outcomes of the course unit||By the end of the course, the students should be able to:|
|Mode of Delivery||Face-to-face|
|Recommended optional program components||NONE|
Review of basic Algebra. Functions; Nature and notation, types of functions, (linear, quadratic, cubic, polynomial, rational, exponential, logarithmic). Graphical representation. Linear equations and analytical geometry of the straight line. Linear functions.
Matrix Algebra-Simultaneous equations
The concept of a matrix. Types and properties of matrices. Transpose, inverse, symmetric, and identity matrix. Matrix algebra. Addition, subtraction, division, multiplication. Square matrices. Use of matrices to solve simultaneous equations (systems of linear equations with two or with three unknowns).
Linear programming-Formulation and graphical Solution
Inequalities in the plane. Introduction to Linear Programming. Graphical solutions for maximization and minimization. Applications in business problems. Special cases (no feasible region, unboundness and multiple solutions)
Linear programming-Formulation and Simplex Method
Further linear programming. Formulation of more complicated problems. Linear programming in 3-dimensions. The usage of Simplex Method. Duality and Sensitivity Analysis.
|Recommended and/or required reading:|
|Planned learning activities and teaching methods||The course is delivered to the students by means of lectures, and tutorials. Lecture notes are available through the e-learning platform of the University, and the instructor’s webpage. Students are strongly encouraged for class work, problem and exercise solving and discussion.|
|Assessment methods and criteria|
|Language of instruction||English|