Class 11 Business Mathematics

Secondary Education Curriculum
2076
Business Mathematics

Working hrs: 160

1. Introduction

Business primarily revolves around the financial transaction or products that have some monetary value. Involvement of finance makes it extremely important to have sufficient knowledge about the basics of calculations. This is where business mathematics comes into play. It deals with the fundamental topics that one needs to carry out business related calculations. Realizing the necessity to impart the same on students, the curriculum has been developed for Grades 11 so as to prepare them for job market and for higher studies. The curriculum of Business Mathematics for Grade 11 is designed to equip the students with mathematical and statistical concepts applicable in business and economics. The purpose of this course, then, is to present mathematical and statistical skills and concepts so that the students will be able to use them in management, economics, and social sciences. As mathematics and statistics are widely used in economics, business and finance, the students need a certain level of skill and understanding of the basic mathematical and statistical methods. The pedagogical approaches in delivering the course should consider the balance between theory and practice. In doing so, students should provide ample opportunities of working actively in real-world problems. The same applies in case of student evaluation procedure too. The curriculum has different sections: level-wise competencies, grade-wise learning outcomes, contents and their elaboration, suggested project works, learning facilitation process and the assessment procedure. The major content areas included in this course are: algebra, calculus, financial mathematics, linear programming, statistics and probability.

2. Level-wise Competencies

By the end of the grade 12, the students will have the following competencies.

1. Understand the concepts of algebra and employ a variety of thinking processes and strategies to truly understand the concepts that underlie the business problems.
2. Apply calculus in business and economics fields.
3. Apply partnership, present worth and discount, arithmetic sequence and series, geometric sequence and series, compound interest and depreciation, NPV and IRR, annuity in business and many other field
4. Maximize the profit and minimize the cost under very limited resources used.
5. Apply statistical knowledge and skills for their personal development and future career pathways, and analyze the data using Ms. Excel.
6. Develop appropriate process skills for the acquisition and application of mathematical concepts and skills.
7. Apply mathematical and statistical knowledge and skills for their personal development and future career pathways.
8. Apply modern technology to solve problems related to business and economic fields

1. Algebra ( 21 Working hrs )

1.1 Linear Functions, Equation and Inequalities

• Functions
• Inverse and composite functions
• Linear Equations
• Linear Functions and their graphs
• Slope and intercepts of a line
• In equalities and their theoretical proof)
• Absolute values and their properties(without theoretical proof)

1.2 Applications

• Demand, supply, cost, revenue and Profit functions
• Elasticity of demand, supply and income
• Budget and cost constraints

1.3 System of linear equations

• Solving System of linear equations (Up to three variables)

1.4 Applications

• Supply and Demand Analysis
• Break-Even Analysis
• Consumer and producer surplus
• National income determination

1.5 Quadratic Functions and Equations

• Quadratic Functions
• Quadratic equations
• Quadratic inequalities
• Main characteristics(open upward and downward, domain and range, zeroes, vertex, axis of symmetry and intercepts)
• Sketching the graph of a quadratic function with its main characteristics

1.6 Applications

• Supply and Demand Analysis
• Break-Even Analysis
• Optimization

1.7 Exponential and Logarithmic functions

• Exponential functions
• Logarithmic functions and their properties
• Natural and common logarithms
• Exponential and Logarithmic equations
• Economics and Management Applications

1.8 Comp. Work: Excel for linear and quadratic functions and equations

2. Calculus ( 40 Working hrs )

2.1 Limit and Continuity

• Limit of a function
• Procedure of finding Limit
• Limit at infinity
• Continuity of a function

Note: Algebraic function only

2.2 Differentiation

• Derivatives
• Average and Instantaneous Rates of Change
• Rules of differentiations
• Implicit and parametric Differentiation
• Higher-Order Derivatives upto third order

Note: Algebraic, exponential and logarithmic function only

2.3 Applications

• Marginal cost, Marginal revenue and Marginal profit

2.4 Indefinite Integration

• Integration as the reverse process of differentiation
• Rules of integrations
• Total cost, total revenue and total profit function.

3. Financial Mathematics ( 17 Working hrs )

3.1 Financial Mathematics

• Partnership
• Present worth and Discount
• Arithmetic Sequences and series and their applications

3.2 Comp. Work: Excel for financial mathematics

4. Linear Programming Problem ( 10 Working hrs )

4.1 Linear Programming Problem

• Linear inequalities and their graphical solutions
• Graphical method of solving LPP
• Application of LPP in economics and business

4.2 Comp. Work: Excel for graphical method of solving LPP

5. Statistics ( 20 Working hrs )

5.1 Measures of central Tendency

• Exclusive and inclusive classes, cumulative frequency distribution and open end classes
• Mean (arithmetic and weighted arithmetic means)
• Combined mean of two series
• Median
• Partition values
• Mode
• Choice of an average

5.2 Measures of Dispersion

• Range and its relative measure
• Quartile deviation and its relative measure
• Mean deviation from mean and median and their relative measures
• Standard deviation and its relative measure
• Coefficient of Variation
• Variance
• Combined standard deviation

5.3 Comp. Work: Excel for central tendency and dispersion

6. Probability ( 12 Working hrs )

6.1 Permutation and Combination

• Basic Principles of counting
• Permutation: Set of objects all different, set of objects not all different (simple cases only)
• Combination of things all different (simple cases only)

6.2 Probability

• Mathematical and empirical definition of probability
• Dependent and Independent Events
• Basic laws of probability (without theoretical proof)

6.3 Comp. Work: Excel for Permutation, combination, probability and basic laws of probability.