Πτυχίο Διοίκησης Επιχειρήσεων / BA in Business Administration

Course Details

Course Information Package

Course Unit TitleBUSINESS MATHEMATICS
Course Unit CodeAMAT110
Course Unit DetailsBA 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 allocated5
Learning Outcomes of the course unitBy the end of the course, the students should be able to:
  1. Recognise the kinds of functions. Solve and draw simple equations and manipulate basic functions (linear, quadratic, exponential, and logarithmic)
  2. Solve systems of linear equations (using various methods (determinants-Cramer’s method, substitution, elimination, comparison).
  3. Understand the concept of a matrix (determine the size and the elements)
  4. Recognize types of matrix (the symmetric matrix and the Identity).
  5. Perform operations on matrices (addition, subtraction, multiplication, division by scalar).
  6. Calculate the cofactors, the minors, the transpose and the inverse of a matrix in order to solve systems of linear equations.
  7. Formulate and solve Linear Programming problems using the graphical method (determine and interpret the feasible region)
  8. Solve Linear Programming problems using the SIMPLEX method (minimization and maximization).
Mode of DeliveryFace-to-face
PrerequisitesNONECo-requisitesNONE
Recommended optional program componentsNONE
Course Contents

Basic Algebra

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:
Textbooks
  • Barnett R., Ziegler M., Byleen K., College Mathematics for Business, Economics, Life Sciences and Social Sciences. Pearson Prentice Hall 2008.
References
  • Anton, H., and Kolman, A., Mathematics with Applications for the Management, Life and Social Sciences, Wiley, 2002.
Planned learning activities and teaching methodsThe 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
Test 120%
Test 220%
Final Exam60%
Language of instructionEnglish
Work placement(s)NO

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