MATH 1071: Fundamentals of Mathematics for Business and Economics
This course is designed for Business and Economic students. Topics include the review of linear and non-linear functions and models (including cost, revenue, profit, demand and supply), solving linear and non-linear systems of equations, matrices, linear programming, difference equations and mathematics of finance (including simple and compound interest: discrete and continuous, annuities, mortgages, loans).
Learning outcomes
- Understand and interpret functions as relations between two quantities in three basic mathe¬matics contexts: symbolic, numerical and graphical;
- Develop critical thinking and problem-solving skills that enable a student to solve problems in a variety of applied situations;
- Develop a knowledge base for applications of mathematics of finance.
Course topics
Unit 1: Using Algebraic Expressions and Equations
Unit 2: Lines, Parabolas, Systems, Exponential and Logarithmic Functions
Unit 3: Matrices and Linear Programming
Unit 4: Finance
Required text and materials
The following materials are required for this course:
- Haeussler, E. F., Paul, R. S., Wood, R. (2019). Introductory Mathematical Analysis for
Business, Economics, and the Life and Social Sciences (14th ed.). Pearson
Type: Textbook. ISBN: 9780134141107
- Haeussler, E. F., Paul, R. S., Wood, R. (2019). Student Solutions Manual for Introductory
Mathematical Analysis for Business, Economics, and the Life and Social Sciences (14th ed.).
Pearson
Type: Textbook. ISBN: 9780134770406
Students will also receive the following as a PDF uploaded to the LMS:
- Goldstein, Schneider, Siegel. (2018). Chapter 12. In Finite Mathematics & Its Applications (12th ed.). Pearson ISBN: 9780134437767
Additional requirements
Students will need a scientific calculator; one which has operations for performing calculations with exponents and logarithms. These buttons have symbols like: “ex”, “log” and “ln”. Almost any scientific calculator will have these functions. Programmable calculators which enable you to store notes, or anything with a qwerty keyboard, will not be permitted to be used during the final exam (in particular, the graphing calculators so popular in high schools are not permitted). Your calculator is your friend! Use the same calculator for assignments which you will use for the final exam, so that you become familiar with its use.
Assessments
Please be aware that should your course have a final exam, you are responsible for the fee to the online proctoring service, ProctorU, or to the in-person approved Testing Centre. Please contact exams@tru.ca with any questions about this.
To successfully complete this course, students must achieve a passing grade of 50% or higher on the overall course, and 50% or higher on the final mandatory exam.
Note: The final exam for this course is only available as a paper exam and must be taken in person at an approved Testing Centre. Please email exams@tru.ca with any questions.
| Assignment 1 | 12.5% |
| Assignment 2 | 12.5% |
| Assignment 3 | 12.5% |
| Assignment 4 | 12.5% |
| Final Examination (mandatory) | 50% |
| Total | 100% |
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.
