University of Mumbai, Maharashtra, Finance Semester 2, Business Mathematics Syllabus

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Unit - 1 Elementary Financial Mathematics
1.1 Simple and compound interest interest compounded once a year more than once a year continuous nominal and effective rate of interest
1.2 Annuitypresent and future valuesinking funds
1.3 Depreciation of assets Equated monthly instalments using flat interest rate and reducing balance method
1.4 Function Algebraic functions and the function used in business and economics Break even and equilibrium point
1.5 Permutation and combination simple problems to be solved with the calculator only
Unit - 2 Matrices and determinants
2.1 Matrices some important definitions and some important results
2.2 Matrix operation Addition scalar multiplication matrix multiplication transpose of a matrix
2.3 Determinants of a matrix of order two or three properties and results of determinants
2.4 Solving a system of linear equations using cramer’s rule
2.5 Inverse of a matrixup to order 3 using adjoint of a matrix and matrix inversion method
2.6 Case study Input output analysis
Unit - 3 Derivatives and applications of derivatives
3.1 Introduction and concept Derivative of constant function logarithmic functions Polynomial and exponential functions Rules of derivative Addition multiplication quotient
3.2 Second order derivative
3.3 Application of derivative Maxima and minima
3.4 Average cost and marginal cost Total revenue marginal revenue average revenue average and marginal profit
3.5 Price elasticity of demand
Unit - 4 Numerical analysis
4.1 Introduction and concept Finite differences – forward difference operator
4.2 Newton’s forward difference formula with simple examples backward difference operator Newton’s backward interpolation formula with simple examples.
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Other Subjects of Semester-2
Industrial law
Business environment
Principle of marketing
Principles of management
Business communication-ii
Foundation course - value education and soft skill - ii
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