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buX: MAT501
Mathematics for Decision-making (BBS)

buX

Mathematics for Decision-making (BBS)
Enrollment is Closed

Mathematics is the most important fundamental tool for all Sciences including Economics and Business. This course is about the basic and fundamental concepts of Mathematics that is essential for understanding the economic and business phenomenon and making optimum decisions.
Enrollment is Closed

About This Course

The main objective of a firm is maximization of its profit by. Accordingly managers’ activities stand firmly rooted in the foundation provided by economic theory. Basic concepts underlying the managerial decisions are opportunity cost, marginal analysis and the principle of discounting. To achieve the goal managers have to deal with some problem areas like the study of demand, production and cost analysis, pricing, applications of linear programming and capital budgeting in which mathematics and economic analysis have much to contribute. Considering all above mentioned managers analyze strategies and suggest for a course of action. This course introduces the basic concepts and methods of mathematics to understand economic and business theories. The main objective of this course is to make the students familiar with the most widely used mathematical tools for decision making.

Course Description:

This course introduces students to topics: Mathematical Equations and Different functions: Polynomial (Linear, Quadratic), Rational, Exponential and Logarithmic etc that are frequently used in business for making decision and focuses on their applications in Business and Economics. It gives special emphasis on the applications of Linear function in business. It also introduces the system of linear equations and basics of matrix algebra and their applications like linear programming, market models. This course introduces also the basics of Mathematics of Finance and focuses on applications in real life. It gives an overview on the fundamental concepts of differential and integral calculus and focuses on their applications in optimizing economic or business decision.

Intended Learning Outcome:

By the end of this course, the students will be able to:

Define and formulate the basic mathematical relationships. Apply the basic concepts of linear function in business. Use basic concepts of system of linear equations and matrix algebra in business and economics. Make optimum financial decisions using the basic Mathematical tools. Understand the basic concepts of Differentiation and Integration and use them in Business and Economics .

Requirements

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Faculty Member

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Dr. Mir Mozibor Rahman(MMR)

Assistant Professor, Department of MNS

Email: mirmozib@bracu.ac.bd

Dr. Mir Mozibor Rahman is an Assistant Professor of Mathematics at the Department of Mathematics and Natural Sciences, BRAC University. He received his B.Sc in Applied Mathematics, following MBA and Ph.D in Economics from Peoples’ Friendship University of Russia, Moscow, Russia. Dr. Mir has 15 years of teaching experience at home and abroad. He taught economics for 3 years in the Faculty of Economics at Peoples’ Friendship University of Russia, Moscow. He worked for next 4 years as an Assistant Professor of Economics in the Department of Economicsr at Bangladesh University . He has been teaching at BRAC University since January 2012 till to date as an Assistant Professor of Mathematics in MNS Department. Along with MNS Department He has been teaching graduate students at MBA program of BRAC Business School and at Masters program of Economics and Social Sciences Department of BRAC University. Dr. Mir is an academician of multi-dimensional field by educational background and as well as by teaching experience. He taught more than 40 courses of Mathematics, Statistics, Economics and Business. His research interests are Mathematical modeling, Operations research and also Mathematics Education.

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Enrollment is Closed