Mathematics for Business

Prof. ROSSI
rossi@econ.unito.it

Prof. MATTALIA
mattalia@econ.unito.it

Program:

Introduction to Logic Statements and Logical Operators, Logical Equivalence, Tautologies and Contradictions. Sets and Set Operations. Cartesian product, numerical sets. Real line, intervals, neighbourhoods.

Functions. Definition, feasible set, graph. Iniective, surjective, inverse and composite functions. Real function in one variable. Bound and monotone, functions. Minimum and maximum of a function. Elementary functions: power, logarithm, exponential functions.

Limits and Continuity. Definition of Limit. Continuous functions and fundamental theorems (no proofs).

Differential Calculus and applications. Notion of derivative. Numerical and Graphical Viewpoints. The Derivative: Algebraic Viewpoint. Derivative of elementary functions and rules of derivation. Fundamental theorems (no proofs). Higher-order derivatives. First and second order conditions. Economic application: marginal Analysis. Taylor’s approximation. Applications.

Functions of two variables. Domain of functions of two variables. Partial Derivatives. Maxima and Minima. No-constrained Maxima and Minima and Applications.

Financial Calculus: Common financial laws. Annuities. Amortization plans.

Textbooks

BORGONOVO, E. Introductory Mathematics for Business and Economics, Le dispense del Pellicano, Milano, EGEA, 2003
WANER S., S.R. COSTENOBLE (2001) Finite Mathematics and Applied Calculus, Brooks/Cole, a division of Thomson Learning, 2nd edition.

Class notes will be provided by the instructor.