COURSE MANUAL

Business Mathematics and Statistics

Fall 2017 Semester

Pranabes Dutta
(pdutta@jgu.edu.in)
 Part I
Course Title: Business Mathematics and Statistics
Course Duration: One Semester
No. of Credit Units: 4
Level: BBA. LLB Programme
Medium of Instruction: English
Pre-requisites: None
Pre-cursor: ---
Equivalent Courses: None

Part II
Course Description
This course introduces students to the basic concepts of mathematics and statistics which has
applications in economics and finance. Students are expected to master the basic concepts of
calculus, and introductory statistics, and go over applications of the core topics covered, mainly
from economics and finance.

Course Aims
To provide students with grounding in the basic concepts of business mathematics and
statistics.
To familiarize students with applications in economics and finance using mathematics
and statistics.
To encourage students to appreciate the role of mathematics as a language in social
sciences and the importance of empirical analysis using data.

Course Intended Learning Outcomes

Course Intending Learning Teaching and Learning Assessment Tasks/Activities

Outcomes Activities

By the end of the course

students should be able to:

Master the 50% Lecture, class participation, One time, closed book end
basic concepts class involvement, analyzing semester written exam
of business statistical data using Excel.
mathematics Class room discussion
and statistics Students will get
introduced to the basic
business mathematics and
statistics. Through class
participation, students
will get familiar to and
understand the subject
matter.
 Apply basic 50% Lecture, class participation In class participation
principles of and involvement in the class in problem solving
business room discussion based on and tutorial.
mathematics readings and general
and statistics in understanding.
problems of
economics and Through participation
finance. tutorials and in-class problem
solving, students will master
applications of mathematics
and statistics in economics
and finance.

Grading of Students Achievement

Exam:
One time end semester written exam carrying 50% weightage.
Mid-Semester Computer Exams: 40%
Class Participation: 10%
Plagiarism
Any idea, sentence or paragraph you cull from a web source must be credited with the original
source. If you paraphrase or directly quote from a web source in the exam, presentation or
essays, the source must be explicitly mentioned. You SHOULD NOT plagiarise content, be it
from scholarly sources (i.e. books and journal articles) or from the Internet. The university has
strict rules with consequences for students involved in plagiarism. This is an issue of academic
integrity on which no compromise will be made, especially as students have already been
trained in the perils of lifting sentences or paragraphs from others and claiming authorship of
them.
 Part III
Keyword Syllabus
Business Mathematics, Statistics, Calculus, Differentiation, Integration, Optimization, Financial
Mathematics

1. Statistics
This section would introduce the students to statistics as a tool for analysis of data.
a. Introduction: Scope of statistics, statistical methodology, graphs: pie chart, bar graph and
histograms., percentiles and box plots
b. Central tendency and Dispersion
c. Correlation and basic intuition of regression and interpretation of regression results.
d. Combinatorics and Classical Theory of Probability, Properties of union, intersection of
events, Conditional probability, Bayes Theorem, Expectation.

I think the concepts underlying topics a-d may be discussed during the lectures and MS-
Excel may be introduced as a data analyzing tool. I feel this would be a better way to
expose instead of teaching them to do manual calculations of measures of central
tendency, dispersion, correlation and regression. I plan to take a computer-based
internal assessment (30% of the total grade) on this.
References:
1. http://onlinestatbook.com/Online_Statistics_Education.pdf
a. Topic a: Pgs 10-26, 29, 82-86, 92- 97,101-105
b. Topic b and c: Pgs 123- 128, 131-135, 140-148, 150, 164- 177
c. Topic d: Pgs 185-206, 212- 214
2. http://cameron.econ.ucdavis.edu/excel/ex61multipleregression.html (for interpretation of
Regression output using Excel)
2. Business Maths:
a. Functions and graphs
b. Differentiation and applications
c. Integration and applications
d. Optimization in two variables
e. Financial Maths
f. Demand, supply, commodity taxation and related applications
References:
1. Topics a-d: http://tutorial.math.lamar.edu/Classes/CalcI/CalcI.aspx The following
sections are to be studied from this e-resource. There are practice problems for you to try
and do yourself and assignment problems, some of which we will do during the lecture
a. Review: Functions
b. Review: Common Graphs
c. Tangent Lines and rates of change
d. The Limit
e. Computing limits
 f. The Definition of the Derivative
g. Interpretation of the Derivative
h. Differentiation Formulas
i. Product and Quotient Rule
j. Implicit Differentiation
k. Rates of Change
l. Critical Point
m. Finding Absolute Extrema
n. Optimization problems
o. More optimization problems
p. Indefinite integrals
q. Computing indefinite integrals
r. Substitution rule for indefinite integrals
s. Area Problem
t. Definition of the Definite Integral
u. Computing Definite Integrals
2. Topic e: http://content.csbs.utah.edu/~fan/fcs3450/slides/FCS3450SmallUnit04.pdf
3. Topic f: Demand, supply, tax, government policies and related applications (Lecture notes to
be followed)