ABOUT THE COURSE:This course is aimed to inculcate various tools and knowledge to understand and manage finances, analyze data which in turn will help them in decision makings, ultimately leading them to increases profitability and efficiency. It will help to understand the students to excel further in the following areas:Financial ManagementCost ControlFinancial StatementsData Analysis: Statistical Analysis, Risk AssessmentDecision Making: Pricing Strategies, Inventory Management, Investment DecisionsEfficiency & Optimization: Operation Management, Supply Chain ManagementIn essence, Business Mathematics is a foundation stone for sound financial management, data-driven decision making and efficient operations ultimately contributing to a long term success in any business.INTENDED AUDIENCE:UG (B.Com / BBA)PREREQUISITES: + 2 Level of any DisciplineINDUSTRY SUPPORT:N/A

Syllabus

Week 1:Notion & definition of set and function with suitable examples, Basic concept of limit of a function and the methods to evaluate it: Substitution Method, Factorization Method and Rationalization Method
Week 2:Differentiation of function; Method of First Principles, Basic theorems on differentiation, Product and Quotient Rules, Chain Rule, Logarithmic Differentiation, Derivative of Parametric Equations, Differentiation of Implicit Functions, Derivatives of Higher Order
Week 3:Applications of differentiation; Maxima & Minima, Marginal Analysis; Total Cost function, Total Revenue function and Total Profit function and their applications in business.

Week 4:Basic concept of Integration its properties and Methods; Integration by Substitution, Integration by Parts, Some Standard Integrals, Integration by Partial Fractions; when The Denominator Contains Non-repeated Linear Factors, when Denominator Contains Repeated Linear Factors, when Denominator Contains Non-repeated Quadratic Factors,when Denominator Contains Repeated Quadratic Factors.
Week 5:Definite integral and its properties, Definite Integral as an Area, Applications of Integration to Marginal Analysis
Week 6:Determination of Cost Function from Marginal Cost Function, Derivative of Total Revenue Function and Demand Function from a Given Marginal Revenue Function, Profit maximization, Consumer’s and Producer’s Surplus
Week 7:Introduction of Matrices & Determinants, Types of Matrices, Operations on Matrices, Addition and subtraction of Matrice and their properties, Scalar multiplication of matrices and its properties
Week 8:Multiplication of matrices and its properties, Determinant of a Square Matrix; Rule for Expanding the Determinants of Order 3, Sarrus Diagram for the Expansion of a Determinant of Third Order.

Week 9:Minors and Cofactors of Elements of Determinant, Properties of Determinants, Product of two Determinants.
Week 10:Applications of Determinants in Solving a System of Linear Equations, System of Linear Equations in Three Unknowns, Conditions for Consistency, Solution of the system of equations using Crammer's rule
Week 11:Transpose of a Matrix, Properties of Transpose of a Matrix, Symmetric and Skew Symmetric Matrices, Adjoint of a Square Matrix, Singular and Non-Singular Matrices, Inverse of a Square Matrix, Expression for Finding the Inverse of a Matrix A, Steps Involved in Finding the Inverse of a Matrix A, Properties of the Inverse of a Matrix

Week 12:Solution of a System of Linear Equations, Steps Involved in Solving a System of Linear Equations, Homogeneous System of Linear Equations, Leontief Input Output Model (Open Model only)