

Module code: BITM140 

4V (4 hours per week) 
5 
Semester: 1 
Mandatory course: yes 
Language of instruction:
English/German 
Assessment:
Written exam (90 minutes / can be repeated semesterly)
[updated 17.09.2018]

BITM140 (P4200206) International TourismManagement, Bachelor, ASPO 01.10.2013
, semester 1, mandatory course
BITM140 (P4200206) International TourismManagement, Bachelor, ASPO 01.10.2015
, semester 1, mandatory course
BITM140 (P4200206) International TourismManagement, Bachelor, ASPO 01.10.2017
, semester 1, mandatory course

60 class hours (= 45 clock hours) over a 15week period. The total student study time is 150 hours (equivalent to 5 ECTS credits). There are therefore 105 hours available for class preparation and followup work and exam preparation.

Recommended prerequisites (modules):
None.

Recommended as prerequisite for:

Module coordinator:
Prof. Dr. Teresa Melo 
Lecturer: Prof. Dr. Teresa Melo
[updated 26.06.2017]

Learning outcomes:
After successfully completing this module students will:  be able to model economic problems in the language of mathematics,  be able to explain the basic formalities of differential and integral calculus, as well as matrix calculus,  be able to test fundamental mathematical methods of analysis and linear algebra using examples,  have mastered basic concepts and calculation methods of financial mathematics with regard to interest, annuity and sinking fund calculations,  be able to model and solve economic linear optimization problems,  be able to demonstrate the properties and possible applications of mathematical methods and assess their limits,  be able to economically interpret and implement the results obtained by means of mathematical methods,  have developed analytical skills by independently solving tasks in the subject area. Differential calculus:
[updated 17.09.2018]

Module content:
Functions of a variable, differentiation rules Application of differential calculus to basic business functions Functions with several variables, partial derivatives, extreme values with and without consideration of constraints Integral calculus Root functions, elementary integration rules Special integration techniques: integration by parts, substitution Specific integral and economic applications of integral calculus Elements of financial mathematics: Interestrate models Annuity calculation Sinking fund calculation Basics of linear algebra: Description of business processes using matrices (e. g. production processes) Elementary calculations with matrices, matrix multiplication Creation of linear systems of equations and solution methods (e. g. Gauss algoritm) Linear programming: Creating models for business problems (e. g. production, logistics, marketing, investment) Graphical solution method for solving linear programming models Simplex method and economic interpretation of optimal solutions
[updated 17.09.2018]

Teaching methods/Media:
Lecture and discussion in a large group using transparencies (projectors) and the blackboard (theory and example calculations). The lecture will be supplemented by exercises and tutorials. A large number of exercise sheets covering the wide range topics in this module will be provided for work at home. Afterwards, the solutions will be discussed with the students. Both the lecture notes and the exercise sheets will be available to students in electronic form.
[updated 17.09.2018]

Recommended or required reading:
Gohout, Operations Research: Einige ausgewählte Gebiete der linearen und nichtlinearen Optimierung_, 4. erw. Auflage, Oldenbourg Verlag, München, 2009 Karmann, Mathematik für Wirtschaftswissenschaftler: Problemorientierte Einführung, 6. Auflage, Oldenbourg Verlag, München/Wien, 2008 Luderer/Würker, Einstieg in die Wirtschaftsmathematik, 9. aktual. Auflage, Springer Gabler, Wiesbaden, 2015 Sydsaeter/Hammond, Mathematik für Wirtschaftswissenschaftler: Basiswissen mit Praxisbezug, 4. aktual. und erw. Auflage, Pearson Studium, München, 2014 Tietze, Einführung in die angewandte Wirtschaftsmathematik, 17., erw. Auflage, Springer Spektrum, 2013 Tietze, Einführung in die Finanzmathematik  Klassische Verfahren und neuere Entwicklungen: Effektivzins und Renditeberechnung, Investitionsrechnung, Derivative Finanzinstrumente, 12. erw. Auflage, Springer Spektrum, 2015 Werners, Grundlagen des Operations Research mit Aufgaben und Lösungen, 3. Auflage, Springer Gabler, Berlin/Heidelberg, 2013 Zimmermann: Operations Research: Methoden und Modelle für Wirtschaftsingenieure, Betriebswirte, Informatiker, 2. Auflage, Vieweg, Wiesbaden, 2008 English literature: Hillier/Lieberman: Introduction to Operations Research, 10th edition, McGrawHill Education, 2014 Sydsæter/Hammond/Storm: Essential Mathematics for Economic Analysis, 4th edition, Prentice Hall, 2012 Sydsæter, Hammond, Seierstad, Strøm: Further Mathematics for Economic Analysis, 2nd edition, Prentice Hall, 2008 Winston: Operations Research: Applications and Algorithms, 4th edition, Duxbury Press 2004
[updated 17.09.2018]
