Applied mathematics

Total Hours in Course81

Number of hours for lectures16

Number of hours for seminars and practical classes16

Independent study hours49

Responsible UnitInstitute of Mathematics and Physics

Course developer

lect.

Anna Vintere

Mg. math.

Course abstract

The aim of the course is to learn the main concepts of higher mathematics and to get acquainted with the application of these concepts in hospitality.
The course examines set theory, interest calculations, mathematical theory of linear economic models, elements of mathematical analysis, derivation and its application in the study of economic, commercial and management relationships.
In the lectures, students are introduced to the concepts of higher mathematics and the transfer of relevant knowledge in solving practical tasks.
In the practical works, they learn the skills, using the learned laws, to make calculations in the solutions of specific catering and hotel business tasks (problems).

Learning outcomes and their assessment

After successfully completing this course, the student:
1.Knows and is able to demonstrate knowledge and critical understanding of set theory, linear algebra, calculation of percentages and limits of functions, differential calculus of functions of one argument. Knows the application of the learned topics in the study of various economic and management relations - tests.
2. Able to demonstrate understanding of the relevant concepts and regularities, perform the necessary actions and operations - practical works.
3. Working in a group or working independently, able to apply mathematical knowledge in the field of hospitality, perform various financial calculations, perform professional evaluation and interpretation of intermediate and final results of calculations - independent work.

Course Content(Calendar)

Full time intramural studies:

1. Set theory (2 h)
2. Interest calculus. Simple interest, compound interest. Periodic payments. (3 hours)
3. Mathematical theory of linear economic models (matrices and determinants) (4 h)
4. Compiling and solving a system of linear equations (Kramer's formulas) (2 h)
4. Concept of function. Demand and supply functions in a non-competitive market, analysis of their behaviour (market equilibrium) (2 h)
5. Cost, sales volume, sales revenue and profit functions (break-even point, various examples) (2 h)

1st TEST: Theory of sets, financial calculations, linear algebra and economic functions (1 h)

5. Calculations of function limits, uncertainties, their elimination. Limited resources. (3 hours)
6. Derivation of a function, its economic interpretation. Increase in production volume and costs, increase in average costs per unit of increase in production (5 h)
7. Flexibility of the function, its economic interpretation. Elasticity of demand in a single good market model. (2 hours)
8. Use of the derivative in the study of economic, business and management relations: maximization of sales volume and revenue, minimization of average costs, maximization of profit. (5 hours)

2nd TEST. Calculations of function limits. Differential calculus of one-argument functions, their application in the study of economic, business and management relations (1h).

Part time extramural studies:
All topics specified for full time studies are accomplished, but the number of contact hours is one half of the number specified in the calendar

Requirements for awarding credit points

Assessment: Test (a mark)

Description of the organization and tasks of students’ independent work

The following independent works must be completed and credited:
1st independent work – set theory & interest calculations
2nd independent work – linear algebra & economic functions
3rd independent work - calculation of limits & function derivative
4th independent work - the application of differential calculus in the study of various economic, business and management relationships.

Criteria for Evaluating Learning Outcomes

Credits are received cumulatively, without an additional knowledge test, if the semester study results are summarised:
• All independent works are completed at times specified by the teaching staff;
• During the semester each test score is at least 4.
Failed tests can be repeated. The student may overwrite unsuccessfully written test work during the study process at times specified by the teaching staff.
If the conditions for cumulative credit are not fulfilled, the student shall, during the period of individual study and examinations, answer for all the topics covered in the semester as a whole in the form of a written assignment.

Compulsory reading

1. Buiķis M. Finansu matemātika. Rīga, 2002. Biznesa izglītības bibliotēka I
2. Revina I., Peļņa M., Gulbe M., Bāliņa S. Matemātikā ekonomistiem. Teorija un uzdevumi. Rīga: Izglītības soļi, 2006. 306 lpp.
3. Revina I., Peļņa M., Gulbe M., Bāliņa S. Uzdevumu krājums matemātikā ekonomistiem. Rīga: Zvaigzne, 1997. 167 lpp.
4. Šteiners K., Siliņa B. Augstākā matemātika. II daļa. Rīga: Zvaigzne ABC, 1998. 116 lpp.
5. Šteiners K., Siliņa B. Augstākā matemātika. III daļa. Rīga: Zvaigzne ABC, 1998. 192 lpp.
6. Kronbergs E., Rivža P., Bože Dz. Augstākā matemātika. I daļa. Rīga: Zvaigzne, 1988. 534 lpp.
7. Barnett R. A., Ziegler M. R. Applied mathematics for business and economics, life sciences and social sciences. 3rd ed. San Francisco, California, 1989.1079 p.
8. Silberg E. The Structure of Economics: A Mathematical Analysis. New York: McGraw – Hill Book Company, 1978. 543 p.
9. Mizrahi A., Sullivan M. Mathematics for Business and Social sciences. Wiley&Sons, 1988. 876 p

Periodicals and other sources

1. Kursa materiāli LBTU estudiju sistēmā
2. Brīvas pieejas ar kursa saturu saistīti materiāli internetā

Notes

The course is included in the theoretical knowledge basic courses and information technology courses of the PTF professional higher education bachelor's study program "Catering and hotel management".

Atsauksmes