2019-2020 / MATH0055-2

Mathematics for Economic and management sciences (Part 1)

Duration

60h Th, 45h Pr

Number of credits

 Bachelor in economics and business management7 crédits  

Lecturer

Isabelle Pays

Language(s) of instruction

French language

Organisation and examination

All year long, with partial in January

Schedule

Schedule online

Units courses prerequisite and corequisite

Prerequisite or corequisite units are presented within each program

Learning unit contents

  • Summation notation, Newton's binomial formula
  • Elementary functions (polynomials, power functions, exponential functions, logarithmic functions).
  • One variable calculus (limits, continuity, dérivatives).
  • Financial maths: simple and compounded interest, present value, motgages, internal rate of return.
  • Multivariable calculus (essentially 2 variables) (Introduction: graphs, level curves, partial dérivatives, linear approximations).
  • Matrix algebra, determinants, systems of linear equations.
  • Linear programming, an introduction.
Every topic is illustrated with a great variety of examples in mamangement as well as in economics.

Learning outcomes of the learning unit

Learning outcomes :
"Use adequately the mathematics, the statistics or the IT tools in the context of the management or the economics", with this course the student will


  • acquire the mathematical tools needed in the models used in economics as well as the basics to be able to undertake statistics courses, essential for futur managers or economists.
  • be aware of the need to think, to reason rigorously, argue, interpret (from a practical point of view) results and communicate its approach and conclusions in the context and the appropriate language.
  • be able to structure and to organize knowledge so that it can integrate them later in his studies and later in his career.
The student is not asked to produce mathematics but to take them under control in such a way that he/she will be able to use them in the context of management and economics.
Strategy : The course will allow students to analyse the financial and economic context of a complex situation. The course will allow students to demonstrate scientific precision and a critical mind in the analysis of a complex situation.
Implementation : The course will allow students to take charge of the everyday management of a company, an organization or a project
Quality and Performance Control : The course will allow students to plan and implement the performance and quality control in a company, an organization or a project
Communication : The course will allow students to communicate efficiently, internally and externally, about a company, organization or project
Adaptability : The course will encourage students to be curious and to show a scientific precision of academic level in their studies as well as in their professional life.

Prerequisite knowledge and skills

Elementary algebra : fraction, power, operations priority, proper use of parenthesis; First and second degree functions and their graphs.

Planned learning activities and teaching methods

Methods
Selected exercises are to prepare outside of class and before the exercise sessions. The exercises will be announced a few days to prepare in advance. 
Personal work, outside of class sessions and exercises is expected of the student throughout the year. Regular work is essential to achieve the objectives.

In addition to the ongoing large group classes, exercise sessions are held in small groups. Formative evaluations ("blank exams") are organized.

Mode of delivery (face-to-face ; distance-learning)

Recommended or required readings

"Mathématique pour l'économie" dont les auteurs sont Knut Sydesaeter et Peter Hammond avec la collaboration de Arne Strom. (4e édition, PEARSON.) ISBN: 978-2-3260-0032-2 Disponible à la centrale des cours (N1)
 translation of:
"Essential Mathematics for Economic Analysis" dont les auteurs sont Knut Sydesaeter et Peter Hammond. (4e édition, PEARSON.) ISBN: 978-0-273-76068-9 (La 3e édition convient aussi.) Disponible à la centrale des cours (N1)
  Several documents will be available on the course website : New lol@: http://lola.hec.ulg.ac.be/course/view.php?id=123 (Identification needed to access MATH0055-2)

Assessment methods and criteria

Written examinations.
At each written examination, a part of multiple choice questions and a part of questions with answers to be developed. The proportion of multiple choice questions may be higher in the second session (August / September).
1st session:
- A partial in January concerning the material seen in the first semester (theory and exercises)
- A partial in May/June on the subject of the second semester (theory and exercises) and, for those who wish and who previously registered in terms explained during the course, possibility to present the material of the first semester.
The overall grade of the first session will be equal to the average of the partial marks (subject of the first semester and subject of the second semester).
In the case of a second session (resit), a partial exemption will be granted for the part (subject of the first semester or subject of the second quadrimester) which may be passed (note not rounded, by at least 10/20, theory and exercises combined. For example, a score of 9.8 / 20 for a part is considered a failure). In case of non-successful completion of the course in second session, no partial exemption will be granted for the following academic year.
The final note is rounded to the closest integer.
It is strictly forbidden to carry a mobile phone or other electronic device, even swiched off. Failure to comply with this rule will cancel the exam, that is to say it will lead to a score of 0. Similarly, such a device cannot be swiched on in the exam room. A student may be asked to show his mobile during the exam, to prove that it's really swiched off. Be careful: swiched off is NOT the same as "silent-mode".
 Two "blank exams" during the year, for training. The students that register for the firts time for this course must take these "blank exams". (For students who actually took the exam the previous year, the "blank exam" is optional.)
It is noted that the presence is mandatory for 1st block of of 1st cycle exams in January under penalty of not being admitted to other sessions. To be marked present at an examination the student must apply in person at the time and date for the exam.
For exam periods, scholarship students should be aware that unauthorized absence exam can cause them to lose access to scholarship. The current regulation specifies that: Failure to present himself at the exam leads to a rating of "absence." This absence can be excused if the student sent a medical certificate to the apparitorat as soon as possible and no later than the third calendar day counted from the start of the absence. To be considered, the medical certificate must have been issued on the 1st or 2nd day of illness or accident (or absence).

Work placement(s)

Organizational remarks

The course is taught in French.
Mobile phones, tablets and other computers are not useful during the course and impair concentration. These devices must be switched off, alarm deactivated, during the courses, except if it's asked by the professor to use it for pedagogical purposes.

Contacts

Instructor : I. Pays, HEC-Ecole de Gestion de l'Ulg, Rue Louvrex, 14, Liège. (Bât. N1, Local 327), Tél. : 04 232 7302 - E-mail: Isabelle.Pays@uliege.be
Assistants:

S. Maron, Bât. N1, Local 306. Tél. : 04 232 73 01 - E-mail : Sabine.Maron@uliege.be

M.-C. Cillis, Bât. N1, Local 306. Tél. : 04 232 73 41 - E-mail : mccillis@uliege.be
E. Flas, Bât. N1, Local 306. Tél. : 04 232 73 15  - E-mail : eddy.flas@uliege.be

Adaptation of teaching commitments following the COVID-19 pandemic for the May-June 2020 session

Teaching methods implemented : distance-learning

All theoretical and practical courses are and will be available in podcasts. It is recommended to respect the usual course timetable, to prepare the TP (see TP to prepare on Lol @) before viewing the podcast of the TP.
For Q&A sessions:
We are still available to answer your questions. Send an email (and in the email, first specify your name and the course you are asking about) to one of us:

  • mccillis@uliege.be
  • Eddy.Flas@uliege.be
  • Sabine.Maron@uliege.be
  • Isabelle.Pays@uliege.be
You can attach a photo of the problematic exercise or explain what you want to ask about. These questions can relate to the whole course (Q1; Q2; questions on exercises, on "Au Boulot" or on theory).
Depending on the nature of the response, we will respond to you by email or we will arrange a face-to-face, remote, interactive interview requiring a PC / Mac or a smartphone or tablet.

Assessment subjects

The examination of the 1st session relates to the material seen in the courses and the practical sessions, in face or distance.
Details are given on the course website (LOL @). Link here
Part 2 of the course: subject of the second term. Concerns all students.
Part 1 of the course: subject of the first term: only concerns students who wish to re-submit this exam and who have registered for this purpose on LOL @ before May 20, 2020 8 p.m.

Assessment methods

Written exam, remote, on PC. Duration: 2h.


  • MCQ (1h)
  • Part with questions with answers to develop  (total 1h)
Details will be/ are available on the course website (LOL@). (Which browser to use, precise sequence, etc.)
Mandatory registrations for each of the two parts:


  • Part 2 (subject Q2): Wednesday May 8 between 10:30 am and 12:30 pm (info on Lol @)
  • Part 1 (subject Q1): on Lol @, register by the survey before May 20 at 8 p.m.
Details availabe on LOL@
Second session: if distance examinations are required, methods similar to those of June will be used, possibly with a greater or total proportion of multiple choice questions.

Contacts

mccillis@uliege.be
Eddy.Flas@uliege.be
Sabine.Maron@uliege.be
Isabelle.Pays@uliege.be

Adaptation of teaching commitments following the COVID-19 pandemic for the Aug-Sept 2020 session

Assessment subjects

Same content as in June. Some more details on LOL@, "Tests & Examens"

Assessment methods

Written remote exam. (On PC)

  • Part 1 (first semester): 1 hour
  • Part 2 (second semester): 1 hour
MQC questions and short answers questions.
More details on the course website LOL@. 
In addition to the registration on myULiège, a compulsory registration on LOL@ for each Part must be validated before August 12 at noon. Moreover, a test "display of formulas" should be carried out before August 12 at noon. A student who does not take this test on time will not receive assistance in the event of a problem with the display of formulas.

Contacts

Items online

Course web site
The slides and other documents will be available during the year on the course web site.