MN2039 Basic Quantitative Methods in Management

This course introduces the mathematical basis required for advanced management and cost-benefit analysis. Math topics include algebra, graphs, differential calculus, including both single and multiple variable functions, and indefinite and definite integrals. Management concepts include cost-benefit and cost-effectiveness analysis, marginal analysis, unconstrained and constrained optimization, and welfare analysis.

Prerequisite

College algebra or permission of instructor

Lecture Hours

4

Lab Hours

0

Course Learning Outcomes

After completing the modules of this course, you will be able to:

• Explore data and recognize mathematical functions to represent them.
• Formulate economic problems in mathematical terms.
• Categorize the objective function and constraint(s) in an economic problem where resources are scarce.
• Use differential calculus to solve problems assuming an economic actor seeks to maximize or minimize some function, whether or not resources are constrained.