Business Mathematics II

Concept of integration, Techniques of integration (Standard form, substitution method andintegration by parts), Integration of algebraic, logarithmic and exponential functions,Methods of evaluating definite integrals, Application of integration in business andeconomics ( including consumers’ surplus and producers’ surplus), Area under a curve.

Linear Inequalities in two variables, Introduction to linear programming problem,Formulation of linear programming problem, Methods of solving linear programingproblems: Graphical method, Simplex method (two variables), Duality and standardminimization linear programing problems.Online: Simplex method

Introduction to matrices and types of matrices, Operation on matrices: Addition andsubtraction of matrices, Scalar multiplication of a matrix, Multiplication of matrices,Transpose of matrix, Determinant of a square matrix, Minors and cofactors of matrix,Singular and non-singular of matrix, Adjoint and inverse matrices, Elementary rowoperations, Methods of solving linear equations: Cramer’s rule, Inverse matrix method(Application of linear equation for solving business and economics related problems), Gauss elimination method and Gauss- Jordan method, Input/output analysis, Technologycoefficient matrix, Hawkins-Simon conditions for the viability of the system.

Functions of several variables, Applications of functions of two variables in business andeconomics, Partial differentiation, Applications of partial differentiation, Elasticity of demand, Utility, Production, Graphical Representations, Unconstrained optimization,constrained optimization and Lagrange multipliers.

Introduction to differential equation, Order and degree of differential equation, Solution ofdifferential equations, First-order linear differential equations with constant coefficientand constant term, Differential equation for limited and unlimited growth, Dynamics ofmarket price, First order differential equation with variable- coefficient and variable term,Exact differential equations, Nonlinear differential equations of the first order and firstdegree.

Introduction to difference equations, Solution of first order difference equations(homogeneous and non-homogeneous), Economic applications of first order differenceequation: Cobweb model, Lagged Keynesian macroeconomic model, Duopoly price adjustment.