Mathematics for Finance, Business and Economics

Irénée Dondjio, Wouter Krasser

• Verlag: Routledge
• Jahr: 2019
• ISBN:
  9781000035896
• Auflage: 1
• Thema: Business
• Thema: Business General

Mastering the basic concepts of mathematics is the key to understanding other subjects such as Economics, Finance, Statistics, and Accounting. Mathematics for Finance, Business and Economics is written informally for easy comprehension. Unlike traditional textbooks it provides a combination of explanations, exploration and real-life applications of major concepts.

Mathematics for Finance, Business and Economics discusses elementary mathematical operations, linear and non-linear functions and equations, differentiation and optimization, economic functions, summation, percentages and interest, arithmetic and geometric series, present and future values of annuities, matrices and Markov chains.

Aided by the discussion of real-world problems and solutions, students across the business and economics disciplines will find this textbook perfect for gaining an understanding of a core plank of their studies.

1

Elementary Mathematical Concepts and Operations

After studying this chapter you should be able to:

• add, subtract, multiply and divide positive and negative numbers

• understand the concept of a square root

• expand and evaluate an algebraic expression

• plot points on a graph

The aim of this chapter is to introduce the basic operations (addition, substraction, multiplication and division) used in algebra. The main focus will be on the properties of real numbers and the basic manipulation of algebraic expressions, collecting algebraic expressions with like terms.

Arithmetic is the ABC of Math. Addition, subtraction, multiplication, and division are the basics of Math and every Math operation known to humankind. In one way or another, every equation, graph, and many other things can be broken down into the ABCs of Math: the four basic operations. As people say, Math is a language, and addition, subtraction, multiplication, and division are its alphabet, along with the number line as well. The properties are basically proven ways to apply the mechanics of arithmetic to certain situations (source: www.writework.com).

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