Objectives
Basics
- know and understand what a set, an element of a set, an empty set, a subset, a universal set, an intersection, a
union, and a complement are.
- know and understand the illustration of a set in a Venn diagram.
- be able to perform basic set operations.
- know the definition and elements of the set of natural numbers, integers, rational numbers, and real numbers.
- know and understand what an open, half-open, and closed interval is.
- know and understand what the absolute value of a real number is.
- be able to perform basic operations with real numbers.
Functions and equations
- understand what a function is.
- know and understand what the domain, codomain, and
range of a function are.
- be able to determine the domain, codomain, and range of a function.
- know and understand what a value of a function is.
- be able to determine values of a given function.
- be able to judge whether a given relation is a function.
- know four ways to represent a function.
- be able to think of a relation between two quantities as a function.
- know and understand what a linear function is.
- know the general form of the equation of a linear function.
- know and understand what the slope and intercept of a linear function are.
- be able to draw the graph of a given linear function.
- be able to determine slope and intercept of a linear function.
- know some examples of linear functions in economic and everyday life applications.
- know what a constant function is.
- know what a direct proportionality is.
- know and understand what simple interest is.
- be able to perform simple interest calculation.
- know and understand what fixed costs, variable costs, total costs, total revenue, total profit,
and break-even value are.
- be able to apply the concept of linear functions to a new problem.
- know what a linear equation is.
- be able to solve a linear equation.
- be able to determine the solution set of a linear equation.
- know and understand what a equivalence operation is.
- know the most common equivalence operations.
- be able to solve a linear equation containing parameters.
- know and understand the relation between a linear function and a linear
equation.
- be able to treat applied tasks in economics by means of linear equations.
- be able to solve a linear system of equations.
- know and understand the relation between the intersection point of the graphs
of two linear functions and the solution of a linear system of equations.
- be able to treat applied tasks by means of linear systems of equations.
- know and understand what a quadratic function is.
- know the general form of the equation of a quadratic function.
- know the vertex form of the equation of a quadratic function.
- know that the graph of a quadratic function is a parabola.
- be able to graph a quadratic function out of the vertex form of its equation.
- be able to determine the position of the vertex of a parabola out of the vertex form of the equation of the corresponding quadratic function.
- be able to convert the vertex form of the equation of a quadratic function into the general form.
- know, understand, and be able to apply the method of completing the square.
- be able to convert the general form of the equation of a quadratic function into the vertex form.
- know and understand the relation between a quadratic function and a quadratic equation.
- be able to solve a quadratic equation with the method of completing the square.
- be able to solve a quadratic equation by applying the quadratic formula.
- be able to solve special quadratic equations without applying the quadratic formula.
- be able to solve a quadratic equation containing a parameter.
- be able to determine the vertex form of the equation of a quadratic function out of the coordinates of the vertex and the coordinates of another point of the corresponding parabola.
- be able to determine the general form of the equation of a quadratic function out of the coordinates of three points of the corresponding parabola.
- know some applied examples of quadratic functions.
- know and understand what supply, demand, and market equilibrium are.
- be able to treat applied tasks in economics by means of quadratic equations
or systems of quadratic equations.
- know and understand what compound interest is.
- understand the difference between simple and compound interest.
- be able to calculate the future capital that is invested at an interest
rate which is compounded annually.
- know the general form of the equation of an exponential function.
- know and understand the graph of an exponential function.
- understand the difference between exponential growth and decay.
- know some applied examples of exponential growth and decay functions.
- be able to treat compound interest tasks.
- be able to graph an exponential function out of its equation.
- be able to determine the equation of an exponential function out of
the coordinates of two points of the graph.
- be able to treat applied tasks by means of an exponential function.
- know and understand that it takes a new operation to determine the exponent
of a power.
- know and understand the definition of a logarithm.
- be able to determine simple logarithms without a calculator.
- be able to solve simple exponential equations without a calculator.
- know and understand what a common and a natural logarithm is.
- be able to calculate a common and a natural logarithm with a calculator.
- be able to apply one of the logarithmic properties in order to solve simple
exponential equations.
- be able to treat specific compound interest tasks by means of logarithms.
- be able to calculate the future capital that is invested at an interest
rate which is compounded more than once per year.
- know and understand what a nominal and
an effective annual interest rate is.
- be able to treat specific compound interest tasks.
- know and understand what an annuity is.
- understand the difference between an ordinary annuity and an annuity due.
- be able to calculate the present and the future value of an annuity if constant
payments are made at the beginning or at the end of each compounding period.
- be able to treat specific annuity tasks.
Differential calculus
- understand the purpose of finding the slope of the tangent to the graph of a function.
- know and understand what the derivative (rate of change) of a function at a specific value of the variable is.
- know and understand what the derivative (derived function) of a function is.
- know and understand that the derivative (derived function) of a function is a function.
- be able to estimate a derivative (rate of change) out of the graph of a function.
- be able to state a derivative (rate of change) of a constant and a linear function.
- be able to determine the derivative (derived function) of a constant and a linear function.
- be able to determine the derivative (derived function) of a basic power and a basic exponential function.
- be able to determine a derivative (rate of change) of a basic power and a basic exponential function.
- know the coefficient, sum, and product rules.
- be able to apply the coefficient, sum, and product rules to determine the derivative of a function.
- know what a higher-order derivative is.
- be able to determine a higher-order derivative of a function.
- understand the relation between the first derivative of a function and the increasing or decreasing of the function.
- understand the relation between the second derivative of a function and the concavity of its graph.
- know and understand what a local maximum and a local minimum of a function is.
- be able to determine the local maxima and minima of a function.
- know and unterstand what the global maximum and the global minimum of a function are.
- know and understand what a point of inflection of a function is.
- be able to determine the points of inflection of a function.
- know and understand what marginal cost, marginal revenue, and marginal profit are.
- be able to determine the global maximum and the global minimum of a cost, revenue, and profit function.
- know and understand what average cost, average revenue, and average profit are.
- be able to determine the global maximum and the global minimum of an average cost, average revenue and average profit function.
Integral calculus
- know and understand what an antiderivative of a function is.
- know and understand that a function has infinitely many antiderivatives.
- know and understand what the infinite integral of a function is.
- know and understand what the integration constant is.
- be able to determine an antiderivative and the indefinite integral of a constant, basic power, and basic exponential function.
- know the coefficient and sum rules.
- be able to apply the coefficient and sum rules to determine the indefinite integral of a function.
- be able to determine the cost, revenue, and profit functions if the marginal cost, marginal revenue, and marginal profit functions are known.
- know and understand what a definite integral of a function is.
- know and be able to apply the fundamental theorem of calculus.
- be able to determine a definite integral of a constant, basic power, and basic exponential function.
- be able to determine the area between the graph of a basic power function and the abscissa.
- know and understand what a consumer's and a producer's surplus is.
- be able to determine a consumer's and a producer's surplus if the demand and supply functions are basic power functions.
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