Objectives

[X410 “Business Applications of Calculus”]

 

This course enhances each participant’s preparation for the employment of quantitative techniques considered fundamental to success in any graduate-level Business program.  Completion of X410 signifies that a participant has demonstrated the ability to…

• …develop and work with linear, polynomial, exponential, and logarithmic models (equations) using Excel spreadsheet techniques.

• …develop and work with multiple independent variable models (equations) using Excel spreadsheet techniques.

• …combine individual models into systems of linear or linear and nonlinear models using Excel spreadsheet techniques, solve applied problems (e.g. “break even” and “equilibrium”) involving these systems and perform “optimization” and “rate of change” analyses in business contexts like Cost/Revenue/Profit and Demand/Supply.

• …apply the basic theory underlying differential calculus, and employ the techniques most often needed to derive first and second derivative expressions of single and multiple independent variable functions.

• …employ derivatives of single and multiple independent variable functions in selected “optimization” and “rate of change” contexts such as Profit/Revenue maximization, Cost/average Cost minimization, marginal Cost/Revenue/Profit estimation, and Price Elasticity of Demand computations.

• …apply the basic theory underlying integral calculus, gaining familiarity with the concept of an antiderivative, indefinite integral and definite integral.

• …utilize basic antiderivative and definite integral concepts to solve applied   business problems