Mathematics for Social Sciences I (MATH 103): Course Syllabus and Study Guide

Course Overview

Introduction

This course, Mathematics for Social Sciences I, is designed for undergraduate students in Business Administration. It covers fundamental mathematical concepts and techniques essential for business applications, including arithmetic, algebra, percentages, interest calculations, and financial mathematics.

Course Objectives & Learning Outcomes

Objectives

• Equip students with mathematical knowledge necessary for business decision-making.

• Develop problem-solving skills in business contexts using mathematical tools.

• Introduce students to basic financial mathematics and its applications.

Learning Outcomes

• Broad understanding of business mathematics and its relevance to business administration.

• Ability to interpret and solve mathematical problems in business scenarios.

• Competence in using analytical tools and software for mathematical analysis.

• Effective communication of mathematical solutions and reasoning.

• Demonstrate professional and ethical behavior in mathematical problem-solving.

Course Content & Weekly Topics

Topics Covered

1. Basic Terminology: Integers, Fractions, Decimals

2. Percentages

3. Ratios and Proportions

4. Simple and Compound Interest

5. Trade Discounts, Markup, Markdown

6. Cash Discounts

7. Promissory Notes and Simple Discount

8. Compound Interest, Future and Present Value

9. Annuities

10. Inventory, Invoicing

11. Taxes

12. Payroll

13. Financial Statements

Key Mathematical Concepts

Basic Arithmetic and Algebra

• Integers: Whole numbers, positive and negative, used in counting and calculations.

• Fractions: Numbers representing parts of a whole; operations include addition, subtraction, multiplication, and division.

• Decimals: Fractional numbers expressed in base 10; used in financial calculations.

• Ratios and Proportions: Comparison of quantities; essential for scaling and financial analysis.

Percentages

• Definition: A percentage is a fraction expressed as a part of 100.

• Formula: $\text{Percentage} = \frac{\text{Part}}{\text{Whole}} \times 100$

• Application: Used in calculating discounts, interest rates, and growth rates.

• Example: If a product costs $200 and is discounted by 15%, the discount amount is $200 \times 0.15 = $30.

Interest Calculations

• Simple Interest: Interest calculated only on the principal amount.

• Formula: $I = P \times r \times t$ Where $I$ = interest, $P$ = principal, $r$ = rate, $t$ = time.

• Compound Interest: Interest calculated on both the principal and accumulated interest.

• Formula: $A = P(1 + r)^n$ Where $A$ = amount, $P$ = principal, $r$ = rate per period, $n$ = number of periods.

• Application: Used in loans, savings, and investment calculations.

Discounts and Markups

• Trade Discount: Reduction from the list price for business customers.

• Cash Discount: Incentive for early payment.

• Markup: Amount added to the cost price to determine selling price.

• Markdown: Reduction from the original selling price.

• Formula for Markup: $\text{Markup} = \text{Selling Price} - \text{Cost Price}$

Financial Mathematics

• Present Value (PV): Current worth of a future sum of money.

• Formula: $PV = \frac{FV}{(1 + r)^n}$ Where $FV$ = future value, $r$ = interest rate, $n$ = number of periods.

• Future Value (FV): Value of an investment after a specified period.

• Annuities: Series of equal payments at regular intervals.

• Formula for Ordinary Annuity: $FV = PMT \times \frac{(1 + r)^n - 1}{r}$ Where $PMT$ = payment per period, $r$ = interest rate, $n$ = number of periods.

Assessment Methods

• Attendance and participation: 10%

• Midterm exams: 40% (20% each)

• Final exam: 50%

ECTS Student Workload Estimation

Activity	Workload (hours)	Preparing for exam	Special practice	Completing the activity	Total
Lecture	33	12	7	9	61
Assignment, Project, Presentation	2	3	2	3	10
Final Examination	14	2	2	8	26
Total Workload					97
ECTS					4

Recommended Resources

• Textbook: Business Mathematics, 12th Edition, Global Edition by Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

• Other Materials: Lecture notes, online resources

Additional Info

• Attendance is not mandatory but strongly advised.

• University regulations apply for missed exams and evaluation.

• Course includes ethical use of artificial intelligence in academic work.