Course Overview

Introduction to Business Calculus

This course, QMS 702: Calculus for Business, is designed to introduce students to the fundamental concepts of calculus with a focus on applications in business and management. The curriculum covers both differential and integral calculus, emphasizing their use in economic and business model building. Students will learn to analyze and solve problems related to rates of change, optimization, and accumulation, which are essential for understanding business phenomena such as cost, revenue, and profit.

• Course Code: QMS 702

• Instructor: Dr. Boz'a Tasić

• Term: Fall 2026

• Prerequisites: QMS202, QMS230, QMS110, IMT107, or Direct Entry

• Antirequisite: ECN189

Course Learning Objectives

• Formulate simple economic and business parameter models (e.g., supply, demand, cost, sales, revenue).

• Determine rates of change and estimate marginal values.

• Solve optimization problems relevant to business contexts.

• Calculate total quantities using integration, given rates of change.

Course Topics and Schedule

Weekly Breakdown

The following table outlines the main topics covered each week, along with corresponding textbook readings and MyLab Math modules.

Key Topics and Concepts

Functions and Graphs

Functions are mathematical relationships that assign a unique output to each input. In business calculus, functions are used to model relationships such as cost, revenue, and profit. Graphs visually represent these relationships, making it easier to analyze trends and behaviors.

• Example: The cost function gives the total cost of producing units.

Limits and the Derivative

Limits are foundational to calculus, describing the behavior of functions as inputs approach specific values. The derivative measures the rate of change of a function, which is crucial for understanding marginal concepts in business.

• Formula:

• Derivative:

• Application: Marginal cost is the derivative of the cost function, representing the cost of producing one additional unit.

Additional Derivative Topics

Includes derivatives of exponential and logarithmic functions, as well as rules for differentiating products, quotients, and composite functions (chain rule).

• Exponential Derivative:

• Logarithmic Derivative:

• Product Rule:

• Quotient Rule:

• Chain Rule:

Graphing and Optimization

Graphing derivatives helps identify key features such as maxima, minima, and inflection points. Optimization involves finding the input values that maximize or minimize a function, which is essential for business decision-making.

• First Derivative Test: Used to determine where a function is increasing or decreasing.

• Second Derivative Test: Used to determine concavity and points of inflection.

• Application: Maximizing profit or minimizing cost by finding critical points of the relevant function.

Integration and Its Applications

Integration is the reverse process of differentiation and is used to calculate total quantities, such as area under a curve or accumulated value over time. The Fundamental Theorem of Calculus links differentiation and integration.

• Indefinite Integral:

• Definite Integral:

• Fundamental Theorem of Calculus: , where

• Application: Calculating total revenue, cost, or profit over a given interval.

Probability and Calculus

Calculus is used to analyze continuous random variables, expected values, and standard deviations, which are important in business for risk assessment and decision-making.

• Expected Value:

• Standard Deviation:

Assessment and Grading

Academic Policies and Student Responsibilities

• Adhere to university policies on academic integrity, plagiarism, and course management.

• Communicate promptly with the instructor regarding any issues affecting academic performance.

• Follow procedures for missed assignments, tests, or exams, including timely submission of documentation.

• Utilize academic accommodation support if needed.

Grading Scale

Course Materials

• Textbook: Calculus for Business, Economics, Life Sciences, and Social Sciences, 14th Edition, by Barnett, Ziegler, Byleen, and Stocker (Pearson).

• Calculator: Non-graphical, non-programmable calculator (e.g., Texas Instruments BAII+).

• Online Platform: MyLab Math for assignments and eText access.

Additional Information

• All course announcements, lecture notes, and test dates are posted on the D2L course site.

• Students are responsible for checking their TMU email and D2L regularly.

• Academic integrity is strictly enforced; plagiarism and cheating will result in disciplinary action.