Learning Objectives / Competencies: After attending this module, students will be able to apply the essential basics of differential and integral calculus and linear algebra as well as descriptive statistics and probability theory to practical business problems and to evaluate the results in a factual context. They work independently on problems from
business management areas with the help of appropriate mathematical and statistical models and, if necessary, suitable software. The students are able to discuss the problems to be dealt with in smaller groups, especially in the exercise units. By attending this module, students recognize the necessity of an interplay of mathematical and statistical skills and business understanding.

Contents:
Practical instruction in the fundamentals of the following areas:

• Elementary economic functions
• Differential and integral calculus
• Basics of descriptive statistics: frequencies, location parameters, dispersion parameters, histogram, distribution functions, contingency tables, chi-square
• Fundamentals of probability theory: discrete and continuous random variables, expected value and variance, density functions
• Linear algebra and matrices
  

Methods:

• Models and methods of analysis (research and analytical models): In-depth study of economic functions and their rates of change, Matrices calculus
• Quantitative-Empirical Methods (Comparative - statistical, mathematical method, data analysis): Gaussian algorithm, Poisson distribution
• Qualitative-interpretative methods (expert interview, surveys, standardized surveys): Interpretation of solutions in a factual context, discussions
  

Literature:

• Helge Röpcke, Markus Wessler: Wirtschaftsmathematik (Hanser)
• Sandro Scheid, Stefanie Vogl: Data science (Hanser)