An Introduction to Business Mathematics

TL;DR

This paper offers a comprehensive, self-contained introduction to essential mathematical methods used in business and economics, emphasizing applications in quantitative economic modeling.

Contribution

It provides an integrated overview of fundamental mathematical tools tailored for business students, with a focus on practical economic applications.

Findings

Includes detailed explanations of vector and matrix algebra

Covers linear programming and financial mathematics

Applies calculus to economic modeling

Abstract

These lecture notes provide a self-contained introduction to the mathematical methods required in a Bachelor degree programme in Business, Economics, or Management. In particular, the topics covered comprise real-valued vector and matrix algebra, systems of linear algebraic equations, Leontief's stationary input-output matrix model, linear programming, elementary financial mathematics, as well as differential and integral calculus of real-valued functions of one real variable. A special focus is set on applications in quantitative economical modelling.