SHIKSHA DHAM

👍𝐍𝐎 𝐑𝐄𝐅𝐔𝐍𝐃 𝐏𝐎𝐋𝐈𝐂𝐘

𝐔𝐧𝐢𝐭 𝟏: Matrices and Determinants

Overview of Matrices. Solution of a system of linear equations (having a unique solution and
involving not more than three variables) using matrix inversion method and Cramer's Rule
Leontief Input Output Model (Open Model Only).

𝐔𝐧𝐢𝐭 𝟐: Calculus-I

Concepts and rules of differentiation. Concept of Marginal Analysis: Marginal Revenue,
Marginal Cost. Concept of Elasticity of demand and supply.

Application of Maxima and Minima problems: Revenue, Cost, Profit, Economic Order
Quantity, Optimal trade in time.

𝐔𝐧𝐢𝐭 𝟑: Calculus-II

Partial Differentiation: Partial derivatives up to second order. Homogeneity of a function and
Euler's theorem. Production Function: Returns to factor, Returns to scale. MRTS and Elasticity
of Substitution.
Application of Maxima and Minima problems involving two independent variables.
Integration: Nature of commodities and partial elasticity of demand, Applications of marginal
analysis, Consumer Surplus and Producer Surplus.

𝐔𝐧𝐢𝐭 𝟒: Mathematics of Finance

Rates of interest: nominal, effective and their inter-relationships in different compounding
situations.
Compounding a sum using different types of rates. Applications relating to Depreciation of
assets and average due date.
Types of annuities: ordinary, due and deferred - Discrete and continuous. Perpetuity.
Determination of future and present values using different types of rates of interest.
Applications relating to Capital Expenditure and Leasing.

𝐔𝐧𝐢𝐭 𝟓: Linear Programming

Formulation and Assumptions of LPP, Solution by Simplex Method- maximization and
minimization cases. Shadow prices of the resources. Special Cases: Identification of unique and
multiple optimal solutions, unbounded solution, infeasibility and degeneracy.

BUSINESS MATHS (OU) BM

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01 INTRODUCTION & RULES OF DIFFERENTIATION

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02 DIFFERENTITATE FUNCTION

Shiksha Dham

Maharashtra

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