The course covers differentiation and integration of algebraic and trigonometric functions, as well as higher derivatives. It focuses on business applications of derivatives including linear approximations, the Mean Value Theorem, maxima and minima and optimization problems.
The course aims to help students to understand and develop the skills required for critical thinking, and to encourage them to explore the ways in which these skills can further the pursuit of both their academic and non-academic projects. Topics covered may include: inductive and deductive reasoning, common fallacies, the use of rhetoric, and elementary logic. The scientific method and the basic terminology of scientific reasoning and discourse are presented.
The course explores the economic behaviour of consumers, firms and markets in the domestic and world economy. The dynamics of demand and supply equilibrium are introduced, as well as the basics of market competition. Fundamental economic concepts such as price, elasticity, opportunity cost, labour and capital are introduced. Fundamental methods of economic analysis are used to draw implications for welfare, income distribution, market efficiency and international trade.