Business Mathematics


Faculty of Business Management and Social Sciences


Version 13.0 of 10/13/2017

Code of Module


Modulename (german)

Business Mathematics

Study Programmes
  • Betriebswirtschaft und Management - WiSo (B.A.)
  • Internationale Betriebswirtschaft und Management (B.A.)
  • International Management (B.A.)
Level of Module


Mission Statement

This module applies important formal and quantitative methods from Business Mathematics to Topics from Economics.

  1. Financial mathematics
    1.1 Successions and series
    1.2 Compound computation of interest
    1.3 Annuity computation
    1.4 Amortisation computation
    1.5 Leasing
  2. Differential calculus I
    2.1 Introduction
    2.2 Determination of extreme values
    2.3 Economic applications
    2.3.1 Profit maximisation
    2.3.2 Law of diminishing returns
    2.3.3 Least cost combination
    2.3.4 Production maximisation
    2.3.5 Cost functions
    2.3.6 Economic order quantity
    2.4 Elasticities
  3. Differential calculus II
    3.1 Partial derivatives
    3.2 Partial elasticities
    3.2 Homogeneity
    3.3 Cobb-Douglas production functions
    3.3 Restrictive extreme values
    3.3.1 Lagrangian method
    3.3.2 Economic applications
  4. Linear algebra
    4.1 Linear system of equations
    4.2 Economic applications
    4.2.1 Markov chains
    4.2.2 Input-output analysis
    4.2.3 Multi-stage production processes
  5. An aside: Linear optimisation
    5.1 Setting the task
    5.2 Simplex algorithm
    5.3.A selected problem from discrete optimisation
Learning Outcomes

Knowledge Broadening
Students who successfully complete this module are able to
- handle economic functions analytically,
- offer solutions for economic extreme values with and without auxiliary condition with the assistance of differential calculus and
- set up linear equation systems based on economic issues.
Knowledge Deepening

Instrumental Skills and Competences

Communicative Skills and Competences

Systemic Skills and Competences

Mode of Delivery

Lectures, exercises, self-study

Expected Knowledge and/or Competences

Passed placement test or preparatory course mathematics (arithmetic, algebra, differential calculus)

Responsible of the Module

Faatz, Andreas

  • Hübner, Ursula Hertha
  • Seyfert, Wolfgang
  • Faatz, Andreas
  • Hirschfeld, Gerrit
  • Markovic-Bredthauer, Danijela
  • Neumann, Ludger


Concept of Study and Teaching
Workload Dozentengebunden
Std. WorkloadLehrtyp
Workload Dozentenungebunden
Std. WorkloadLehrtyp
Recommended Reading

(1) Pemberton, M.: Mathematics for economists: an introductory textbook. University of Toronto Press, 2011.

(2) Renshaw, G.: Maths for economics. Oxford University Press, 2012.

(3) Führer, C.: Wirtschaftsmathematik. Kiehl, 2012.

(4) Tietze, J.: Einführung in die angewandte Wirtschaftsmathematik: Das praxisnahe Lehrbuch-inklusive Brückenkurs für Einsteiger. Springer-Verlag, 2013.

Graded Exam

Two-Hour Written Examination

Assessment Methods Remark

2-hour written examination; parts of the exam may be without a calculator


1 Term

Module Frequency

Only Winter Term

Language of Instruction