On completion of the course the students will be able to:

1. explain basic algebraic concepts (e.g., equations and systems of equations).
2. describe properties of functions of one and many variables.
3. explain concepts of differentiation and integration.
4. classify different types of optimization problems (e.g., single-variable optimization,
constrained optimization) and their applications in economics.
5. explain basic concepts in probability theory.

6. analyze functions of one and many variables.
7. apply algebraic methods to solve systems of equations.
8. apply mathematical methods to differentiate and integrate functions.
9. formulate simple mathematical models to describe real-world decision-making processes.
10. calculate elementary probabilities.

11. choose appropriate mathematical models to analyze economic decisions.
12. reflect on usefulness and limits of mathematical modelling in economics.

The course provides an introduction to mathematical methods for economic analysis, e.g.,

• equations and systems of equations
• functions (e.g., linear functions, non-linear functions, exponential functions, logarithmic functions) and their properties
• differentiation and integration
• optimization
• probability theory

Connection to Research and Practice
Mathematics is the common language to communicate scientific results in business administration and economics. Mathematical methods that are discussed in the course will enable students to read articles that are published in leading scientific journals – including theoretical studies in entrepreneurship, ownership, and renewal. By enabling students to access knowledge in academic journals, the course content aids students’ abilities to enhance their own learning experience. The course demonstrates, moreover, how to apply mathematical tools to describe and explain a variety of real-world decisions in business administration and economics (e.g., production decisions, optimal taxation). Analytical skills obtained in the course are also core competencies in many business environments.

Lectures and exercises.

The teaching is conducted in English.

General entry requirements and Mathematics 3b or 3c, Civics 1b or 1a1 and 1a2. Or: English B, Mathematics C and Civics A and required grade Passed or international equivalent.

The course is graded A, B, C, D, E, FX or F.

Individual written exam (ILOs: 1-12) representing 7.5 credits.

Name of the Test	Value	Grading
Individual written exam1	7.5 credits	A/B/C/D/E/FX/F

¹ All parts of the compulsory examination in the course must be passed with a passing grade (A-E ) before a final grade can be set. The final grade of the course is determined by the sum total of points for all parts of the examination in the course (0-100 points). Grade is set in accordance to JIBS grading policy.

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, the programme evaluators in the course must be contacted. In the middle of the course, the examiner should meet the programme evaluators to identify strengths/weaknesses in the first half of the course.

At the end of the course, the examiner should remind students to fill in the survey. The examiner should also call a meeting with the programme evaluators to debrief the course, based on course evaluation data and comments. The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluations.

At the end of each study period, JIBS’ Director of Quality and Accreditation crafts a “Course Evaluation Quarter Report”, presenting the quantitative results from course evaluation surveys. The Associate Dean of Education, The Associate Deans of Faculty, Programme Directors, and JSA President and Quality receive the report.

Academic integrity

JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination.

Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarizing. You must not copy sections of work (such as paragraphs, diagrams, tables and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarizing called the Interactive Anti-Plagiarism Guide.

Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

Sydsæter, K., Hammond, P., Støm, A., & Carvajal, A. (2021). Essential Mathematics for Economic Analysis, Pearson, 6th edition.


Supplementary material may be provided at the beginning of the course.