Business Mathematics – Revised FYBMS Syllabus 2016
Modules at a Glance
| Sr. No. |
Modules |
No. of Lectures |
| 1 |
Elementary Financial Mathematics |
15 |
| 2 |
Matrices and Determinants |
15 |
| 3 |
Derivatives and Applications of Derivatives |
15 |
| 4 |
Numerical Analysis [Interpolation] |
15 |
| Total |
60 |
Business Mathematics – Syllabus Overview
| Sr. No. |
Modules / Units |
| 1 |
Elementary Financial Mathematics |
|
- Simple and Compound Interest: Interest compounded once a year, more than once a year, continuous, nominal and effective rate of interest
- Annuity-Present and future value-sinking funds
- Depreciation of Assets: Equated Monthly Installments (EMI)- using flat interest rate and reducing balance method.
- Functions:Algebraic functions and the functions used in business and economics, Break Even and Equilibrium point.
- Permutation and Combination: (Simple problems to be solved with the calculator only)
|
| 2 |
Matrices and Determinants |
|
- Matrices: Some important definitions and some important results. Matrix operation (Addition, scalar multiplication , matrix multiplication, transpose of a matrix)
- Determinants of a matrix of order two or three: properties and results of Determinants
- Solving a system of linear equations using Cramer’s rule
- Inverse of a Matrix (up to order three) using ad-joint of a matrix and matrix inversion method
- Case study: Input Output Analysis
|
| 3 |
Derivatives and Applications of Derivatives |
|
- Introduction and Concept: Derivatives of constant function, logarithmic functions, polynomial and exponential function
- Rules of derivatives: addition, multiplication, quotient
- Second order derivatives
- Application of Derivatives: Maxima, Minima, Average Cost and Marginal Cost. Total revenue, Marginal revenue, Average revenue. Average and Marginal profit. Price elasticity of demand
|
| 4 |
Numerical Analysis [Interpolation] |
|
- Introduction and concept: Finite differences – forward difference operator – Newton’s forward difference formula with simple examples
- Backward Difference Operator. Newton’s backward interpolation formula with simple examples
|
Reference Books for Subject: Business Mathematics
| Business Mathematics |
- Mathematics for Economics and Finance, Martin Anthony, Norman Biggs, Cambridge lowprice editions, 2000.
- Business Mathematics, D.C. Sancheti, V.K. Kapoor, Sultan Chand & Sons Publications, 2006.
- Business Mathematics, J.K. Singh, 2009,Himalaya Publishing House.
- Mathematics for Business and Economics, J.D. Gupta, P.K. Gupta, Man Mohan, Tata McGrawHill Publishing Company Ltd.
- Mathematics of Finance 2nd Edition Schaum’s Outline Series Peter Zima, Robert Brows Tata McGrawHill Publishing Company Ltd
- Business Mathematics by Dr.AmarnathDikshit&Dr.Jinendra Kumar Jain.
- Business Mathematics by Bari – New Literature publishing company, Mumbai
- Mathematics for Economics and Business, RS Bhardwaj, 2010,Excel Books
- Business Mathematics, Zameerudin, Qazi, V.K. Khanna& S.K. Bhambri, Vikas Publishing House Pvt. Ltd, New Delhi
|
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