Constants, variables and Functions, Limits of algebraic functions -Differentiation - Derivatives - First order and second order Derivatives - Maxima & Minima - application to Business. problems
Elementary integral calculus - method of substitution - determining Infinite and definite Integrals of simple functions - Integration by parts.
Cost function and average cost function from Marginal cost function - Revenue function and demand function from Marginal Revenue function - consumer surplus - producer’s surplus.
Net Present value - Internal rate of return - Capital cost and Capital Budgeting - Depreciations - straight line method - constant percentage method.
Contingent Payments: Introduction - probability - mathematical expectation - contingent payments with time value. Life Annuities and Life Insurance: Introduction - Mortality tables – pure Endowments - Life Annuities - life Insurance - Annual Premium Policies
Reference Book:
1. Business Mathematics – P.R. Vittal, Margham Publications – Reprint – 1999. 2. Introduction to Business Mathematics by Sundersan and Jayaseelan, Sultan chand Co &Ltd, New Delhi, 1998. 3. Business Mathematics by Sanchetti D.C and Kapoor , V.K, Sultan chand Co &Ltd , Newdelhi, 2007 Reprint 11th edition
Text Book:
1. Business Mathematics and Statistics by Navnitham , P.A, Jai Publishers Trichy -21 (For Units I, II and III) , April 2011. 2. Mathematics of finance Second edition by Petr zima, Robert L. Brown, Tata Mc.Graw – Hill Publishing Company Limited, New Delhi - 1996. (For Units IV and V) Unit IV: Chapter 9: Sections: 9.1-9.4. Unit V: Chapter 10: Sections: 10.1-10.4.Chapter 11: Sections: 11.1-11.6.
