Weighting: 100 %
Type: Assignment (L. O. 1, 2, 3)
Brief Description: Case study of a real life issue in student´s organization focus on business mathematics and statistics.
Length: max. 3000 words.

• Business mathematics and statistics­ the role in economics, basic characterization of the contents, mathematical and statistical methods and approaches
• Correlation analysis
• Regression analysis
• Time series
• Index analysis
• Mathematical modelling in economics
• Interpretation of basic tools of Calculus in economics
• Analysis of revenue, cost and profit
• Analysis of demand
• Elasticity in decision-making
• Application to complex economic tasks

1. Demonstrate the knowledge and understanding of difference between functional and correlation dependency of variables and consequently the role of standard engineering mathematics and statistics.
Knowledge and understanding

2. Evaluate systematically the current methods and choose the appropriate mathematical approach and method to grasp a concrete economic problem, while taking into account the limitations of theoretical tools when investigating a complex economic task.
Analysis

3. Apply the standard normal conditions generally respected by economists when modelling economic laws while estimating and assessing results (with the help of convenient means, preferably economic intuition) of calculations to prevent unwanted mistakes.
Application

Students will engage in direct teaching sessions / lectures and following structured learning.

Following the lectures and prior to completing assessment students will engage with guided learning which will consolidate all new knowledge and understanding.

Independent learning strategies will include electronic consultations, electronic discussion groups and if asked for - personal consultations / advice with lecture team members.

• Access to online SU library,E-brary,Beck online
• Students have course handbook and learning package at their disposal

FOR INTERNATIONAL COLLABORATIVE PARTNERS ONLY

• Jacques, I., Mathematics for Economics and Business, Addison-Wesley Publ. Comp., New York 1995, ISBN O-201-42769-9
• Karris, Steven T., ed. Mathematics for Business, Science, and Technology (3rd Edition). Fremont, CA, USA: Orchard Publications, 2007. ProQuest ebrary. Web. 12 January 2015.

(or the most current versions of the texts)