This course provides the essential mathematics required to succeed in the finance and economics related modules of the Global MBA, including equations, functions, derivatives, and matrices. You can test your understanding with quizzes and worksheets, while more advanced content will be available if you want to push yourself. This course forms part of a specialisation from the University of London designed to help you develop and build the essential business, academic, and cultural skills necessary to succeed in international business, or in further study.
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Course 3 of 6 in the International Business Essentials Specialization.
Syllabus
WEEK 1
Equations
Although financial models are theoretical frameworks, we often use mathematical tools to work with these models. Mathematical models usually consist of a set of equations, which are designed to describe the structure of the model, and whose solution determines the importance of variables. This week, we will look at equations, including the basic terminology, and the rules for solving equations requiring more than one operation.
WEEK 2
Functions
Functions are important in every area of pure and applied mathematics, including mathematics applied to economics, finance and business. For example, the language of economic analysis is full of terms like demand and supply functions, cost functions, production functions, consumption functions, and so on. This week, we will present a discussion of functions of one real variable, illustrated by some economic examples. Remember- one variable is a function of another if the first variable depends upon the second.
WEEK 3
Derivatives
An important topic in many scientific disciplines- including economics- is the study of how quickly quantities change. The concept used to describe the rate of change of a function is known as the derivative. In this lecture, we will define the derivative of a function, and share some of the important rules for calculating it.
WEEK 4
Matrices
The analysis and even the comprehension of systems of linear equations is much easier when we use key mathematic concepts such as matrices, vectors, and determinants. This week, we’ll introduce these concepts and explain their application to economic models.
