QUANTITATIVE TECHNIQUES FOR MANAGERS – I(MGT159)
1.Quantitative techniques for managers: Quantitative decision making and its overview. The nature of mathematical economics: mathematical verses non-mathematical economics; mathematical economics verses econometrics.
2.Sequence and series, Arithmetic Progression (AP)-Def; Sum of ‘n’ terms of AP; Arithmetic mean(AM),Terms of AP, Business, Application of AP series, AM between two numbers; ’n’ AM’s between two numbers.
3.Geometric Progression (GP)-Def; Sum of ‘n’ terms of GP, Infinite GP series, Recurring decimal numbers, Geometric mean(GM), terms of GP, GM between two numbers; ‘n’ GM between two numbers; ‘n’ GM’s between two numbers, Business application of GP series.
4.Equations, inequations and identities.
5.Concepts of sets: Set notation, relationship, operations and law of set operation. Equations: Linear, quadratic and simultaneous equations.
6.Matrix Algebra introduction; matrix equations using excel. Inverse matrix and its applications; application to markets and national income models.
7.Concept of derivatives: the devices and slope of a curve, finding MR and AR; different elasticities. Use of derivatives in optimization technique(Maxima and Minima)
8.Introduction to statistics: Definition, types of statistical methods, importance and scope; types and classification of data.
9.Measure of central tendency; mean, median, mode, GM, HM and their inter-relationships.
10.Measure of dispersion; significance of measuring dispersion(variation).,Classification, Standard Deviation.(Using Excel), meaning and significance of skew-ness, and kurtosis.(Using Excel)
11.Correlation analysis: significance, types, And methods: Karl Pearson, Rank, PE. and SE of correlation, co-efficient of determination.(Using Excel, SPSS)
12.Regression analysis: Introduction ,significance, types, assumptions ,methods: deviation method.(Using SPSS) , Standard error
I3.Introduction to probability: concepts; definition, additive and multiplicative law.
14.Index Numbers: types, characteristics and uses; Un-weighted and weighted index numbers, test of adequacy: chain index and their applications: consumer price index
15.Forecasting and time series analysis: decomposition models; smoothing methods, trend projection methods, measurement of seasonal effects: Seasonal index, ratio to trend, Ratio to moving average, Link relative method
Textbook:
Chiang, Alpha C., Wainwright, Kevin,” Fundamental methods of mathematical Economics”, McGraw Hill, 2005
Shanchiti Kapoor, “Business Mathematics” Sultan Chand, 2008