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5006557: Business Mathematics

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Semester:WS 20/21
Scheduled in semester:1
Semester Hours per Week / Contact Hours:60.0 L / 45.0 h
Self-directed study time:135.0 h

Module coordination/Lecturers


Bachelor's degree programme in Business Administration (01.09.2012)


    • Know the basic algebraic rules for matrix operations and can point out the differences from the algebra of numbers.
    • Know the basic notions of financial economics.
    • Explain the basic notions of financial economics in different ways.
    • Can graphically demonstrate the solutions of linear equation systems with two unknowns.
    • Use the methods of financial economics in a correct and purposeful way to solve typical problems concerning interest, compounding, time values, annuities, investments, repayments, interest rates and returns.
    • Use matrix calculations to solve problems concerning input-output-analyses and multistep production processes.
    • Use methods to solve linear equation systems systematically.
    • Solve problems of linear optimization graphically or algebraically and interpret the results in the context.
    • Calculate and interpret marginal effects.
    • Use the Lagrange multiplier method to solve nonlinear optimization problems and use the envelope-theorem to interpret the results in the form of a sensitivity analysis.
    • Can derive the geometry of a linear equation system with more than two unknowns.
    • Can interpret the final tableau of the simplex-algorithm in the form of a sensitivity analysis and identify the changes in the solutions if one of the active restrictions changes.
    • Know the central mathematical techniques for economic analysis that are often used in business applications.
    • Understand the economical content of the assumptions used to derive economical laws and describe these assumptions in words and mathematical symbols.
    • Use the concepts discussed in a correct and purposeful way and interpret the results in the context.
    • Use pocket calculators to find the results needed.
    • Apply standard learning techniques in abstract contexts so that they get used to working with scientific publications on their own.
    • Can analyze economic or business cases using mathematical models.
    • Can propose economic laws and check those laws using mathematical techniques.
    • Can critically check the contents of mathematical models while planning economical action or deriving economic laws.
    • Build up skills to argue rationally in a scientific environment.
    • Appreciate the skill to argue rationally in a scientific environment.
    • Cooperate while working out problems or while preparing themselves for the final exam.
    • Judge arguments critically, considering whether they are sound, reasonable and consistent.
    • Argue in a precise and rational way in their comments.
    • Internalize the use of standard learning and working techniques to learn on their own.