Bachelor of Management Studies (B.M.S.) Introduction to Business Mathematics Syllabus - Mumbai University
This is the FY BMS syllabus under NEP 2020, in force from the academic year 2024-25, examined under form 2225161. The University still sets the earlier Choice Based papers alongside it — forms 2M00155 and 2M00156, whose documents are below — so check which scheme your exam form names before you revise.
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Syllabus for Introduction to Business Mathematics
Module I: Elementary Financial Mathematics (15 Hours)
- Simple and Compound Interest: Interest compounded once a year, more than once a year, continuous, nominal and effective rate of interest
- Annuity-Present and future value-sinking funds
- Depreciation of Assets: Equated Monthly Installments (EMI)- using flat interest rate and reducing balance method.
- Functions: Algebraic functions and the functions used in business and economics, Break Even and Equilibrium point.
- Permutation and Combination: (Simple problems to be solved with the calculator only)
Module II: Matrices and Determinants (15 Hours)
- Matrices: Some important definitions and some important results. Matrix operation (Addition, scalar multiplication , matrix multiplication, transpose of a matrix)
- Determinants of a matrix of order two or three: properties and results of Determinants
- Solving a system of linear equations using Cramer’s rule
- Inverse of a Matrix (up to order three) using ad-joint of a matrix and matrix inversion method
- Case study: Input Output Analysis
Reference Books
- Mathematics for Economics and Finance, Martin Anthony, Norman Biggs, Cambridge low price editions, 2000.
- Business Mathematics, D.C. Sancheti, V.K. Kapoor, Sultan Chand & Sons Publications, 2006.
- Business Mathematics, J.K. Singh, 2009,Himalaya Publishing House.
- Mathematics for Business and Economics, J.D. Gupta, P.K. Gupta, Man Mohan, Tata McGrawHill Publishing Company Ltd.
- Mathematics of Finance 2nd Edition Schaum’s Outline Series Peter Zima, Robert Brows Tata McGrawHill Publishing Company Ltd
- Business Mathematics by Dr.AmarnathDikshit&Dr.Jinendra Kumar Jain.
- Business Mathematics by Bari - New Literature publishing company, Mumbai
Reproduced from the University of Mumbai syllabus for Bachelor of Management Studies (B.M.S.) under NEP 2020, in force from the academic year 2024-25. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.