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Language of instruction
English
Teaching content
QUANTITATIVE METHODS
Training officer(s)
V.DESREUMAUX
Stakeholder(s)
LILLE: Matthieu BUISINE, Emilie DESOUCHE, Vincent DESREUMAUX, Aurélie MAHIEU, Christophe DERAMBURE // PARIS: Eugeni GENTCHEV , Iuliana MATEI, Jennifer AMAR, Joseph SIANI, Mohamed BELKHADIR
Présentation
Prerequisite
The student needs to have a very good knowledge in Algebra and in Precalculus (Baccalaureat S or ES)
Goal
At the end of the course, the student should be able to:
This calculus interactive course aims at providing an introduction to the mathematical tools for quantitative problem solving in Economics, Business and Finance. It will move back and forth between theory and applications and allow the students to gain an appreciation of the strengths and limitations of mathematical model-building. Emphasis will be on the use of the basic concepts of the theory of functions in the description and solution of problems from economical sciences.
• Understand the concept of “function” in both its graphical and algebraic dimensions,
• Understand the notions of “limit” and of “continuity” and their relevance with respect to functions, • Be able to differentiate polynomials, rational, logarithmic and exponential functions,
• Have knowledge of what is meant by “local extrema” and “inflection points” and know how to evaluate them,
• Acquire the ability to extend this knowledge further to functions of several variables and partial derivatives,
• Apply and interpret all these mathematical notions in various applications in economics and related areas,
• Develop modelling skills: the ability to translate various real-world scenarios into mathematical models. Develop problem solving skills: the ability to analyze complicated problems in a variety of subject areas, and to synthesize solutions to such problems.
This calculus interactive course aims at providing an introduction to the mathematical tools for quantitative problem solving in Economics, Business and Finance. It will move back and forth between theory and applications and allow the students to gain an appreciation of the strengths and limitations of mathematical model-building. Emphasis will be on the use of the basic concepts of the theory of functions in the description and solution of problems from economical sciences.
• Understand the concept of “function” in both its graphical and algebraic dimensions,
• Understand the notions of “limit” and of “continuity” and their relevance with respect to functions, • Be able to differentiate polynomials, rational, logarithmic and exponential functions,
• Have knowledge of what is meant by “local extrema” and “inflection points” and know how to evaluate them,
• Acquire the ability to extend this knowledge further to functions of several variables and partial derivatives,
• Apply and interpret all these mathematical notions in various applications in economics and related areas,
• Develop modelling skills: the ability to translate various real-world scenarios into mathematical models. Develop problem solving skills: the ability to analyze complicated problems in a variety of subject areas, and to synthesize solutions to such problems.
Presentation
Topics will include:
I Functions of one variable : domain, range. Inverse functions .Power, exponential and logarithmic functions. Applications in economics and Business (cost, revenue and profit functions, demand and supply functions, learning curves and logistic curves). • Limits, continuity • Derivatives : differentiation using limits, differentiation techniques . Applications • Graphs using derivatives, asymptotes. Applications
II Functions of several variables (The Codd- Douglas function). Partial derivatives, max-min problems, Lagrange multipliers.
* Detailed outline of the course will be given on the first day of class and will be posted on line.
I Functions of one variable : domain, range. Inverse functions .Power, exponential and logarithmic functions. Applications in economics and Business (cost, revenue and profit functions, demand and supply functions, learning curves and logistic curves). • Limits, continuity • Derivatives : differentiation using limits, differentiation techniques . Applications • Graphs using derivatives, asymptotes. Applications
II Functions of several variables (The Codd- Douglas function). Partial derivatives, max-min problems, Lagrange multipliers.
* Detailed outline of the course will be given on the first day of class and will be posted on line.
Modalités
Organization
| Type | Amount of time | Comment | |
|---|---|---|---|
| Présentiel | |||
| Cours interactif | 64,00 | Repeated absences can result in a low participation grade | |
| Travail personnel | |||
| Charge de travail personnel indicative | 64,00 | Review the week's lectures ,read the corresponding chapter topic in the book and do the Hw exercises due for next class. | |
| Overall student workload | 128,00 | ||
Evaluation
2 MCQs based on direct application of the course, encourage regularity in the sutudent's work. A Midterm and a final exam. A participation grade.
| Control type | Duration | Amount | Weighting |
|---|---|---|---|
| Contrôle continu | |||
| Examen partiel | 2,00 | 1 | 30,00 |
| QCM | 0,20 | 2 | 20,00 |
| Participation | 64,00 | 1 | 10,00 |
| Examen (final) | |||
| Examen écrit | 2,00 | 1 | 40,00 |
| TOTAL | 100,00 | ||
Ressources
Bibliography
The course will closely follow “ Introduction to Mathematical Analysis for Business", Economics, life and social sciences” by E. Haeussler, R. Paul, R. Wood, 11th edition, Pearson -
Internet resources
IESEG Online
The IESEG internet site will be used during this semester for this course, for posting homeworks and projects.