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MAT137 - Calculus for Business
Catalog Description: Covers the principal concepts of differential and integral calculus as they relate to business applications. Students will study functions (including exponential and logarithmic), limits, differentiation, and integration. Emphasis will be placed upon the use of calculus in solving problems from the fields of business & economics. Prerequisite: MAT 136 or MAT 140 with a grade of ‘C’ or higher or by placement or instructor permission.
Lecture: 4 hrs.
Course Learning Outcomes (CLOs):
Upon the successful completion of this course, a student will be able to:
1.Evaluate algebraic functions (polynomial, rational, exponential, and logarithmic).
2. Graph basic functions (linear, quadratic, piece-wise).
3. Evaluate limits of basic functions using any appropriate method (numerical, graphical, analytical).
4. Determine the continuity of a function at a point.
5. Find the derivative of a polynomial function using the formal limit definition of derivative.
6. Find the derivative of a function (polynomial, rational, radical, exponential, logarithmic) using the various algebraic derivative rules.
7. Use derivatives to find marginal functions (cost, revenue, profit).
8. Use derivatives to investigate features of simple functions (existence of critical and inflection points, absolute and relative extrema, intervals of increase and decrease, intervals of upward and downward concavity).
9. Use derivatives to solve business-related optimization application problems (minimizing cost, maximizing revenue/profit).
10. Solve business-related exponential growth and decay application problems (future value, present value).
11. Find antiderivatives for basic functions (non-trigonometric forms).
12. Evaluate definite integrals using Fundamental Theorem of Calculus.
13. Evaluate integrals using alternate methods (integration by parts, integration by method of u-substitution).
14. Use definite integrals to solve business-related application problems (area between two curves, average function value, surplus, continuous money flow, consumption of resources).
15. Evaluate functions of multiple variables.
16. Find and evaluate partial derivatives of functions of two variables.
17. Use partial derivatives to solve business-related application problems (Cobb-Douglas, optimization in two variables).
Effective Term: Fall 2019