ERIC Number: ED218127
Record Type: RIE
Publication Date: 1980
Reference Count: 0
Optimal Assignment Problem Applications of Finite Mathematics to Business and Economics. [and] Difference Equations with Applications. Applications of Difference Equations to Economics and Social Sciences. [and] Selected Applications of Mathematics to Finance and Investment. Applications of Elementary Algebra to Finance. [and] Force of Interest. Applications of Calculus to Finance. UMAP Units 317, 322, 381, 382.
Gale, David; And Others
Four units make up the contents of this document. The first examines applications of finite mathematics to business and economies. The user is expected to learn the method of optimization in optimal assignment problems. The second module presents applications of difference equations to economics and social sciences, and shows how to: 1) interpret and solve elementary difference equations and 2) understand how difference equations can be used to model certain problems. The next unit looks at applications of elementary algebra to finance. The goal is to help students understand business and financial concepts and formulas, and teach them how to apply these concepts and formulas in practical circumstances. Appreciation of the power and usefulness of mathematical concepts and techniques is also promoted. The final module examines applications of calculus to finance. The user is taught to: 1) appreciate a natural connection between exponential functions and compound interest; 2) apply the definition of the derivative in a non-science situation; and 3) understand terms used in finance such as simple interest, compound interest, yield rate, nominal rate, and force of interest. Exercises and answers come in all units. The last module contains a model exam. Solutions are provided. (MP)
Publication Type: Guides - Classroom - Learner
Education Level: N/A
Sponsor: National Science Foundation, Washington, DC.
Authoring Institution: Education Development Center, Inc., Newton, MA.
Note: Part of the series: Modules and Monographs in Undergraduate Mathematics and Its Applications Project.