Banking and Insurance Industry

Mathematics for Economics

Integrated course, 5.00 ECTS


Course content

Basic terms of mathematics for economics, especially mathematics of finance, linear models, matrices.
Mathematical and statistical fundamentals and tools for advanced quantitative arguments in the banking and insurance industry.

Core content should include:
[1] Mathematical basics (Repetition of algebraic transformations, logarithms, equations and inequalities, basics of set theory)
[2] Introduction of linear algebra (matrics, linear equation systems)
[3] Sequences and series, convergence, arithmetic and geometric sequences and series and whose application in financial questions
[4] Graphics of data
[5] Financial mathematics
[6] Functions with one variabel (basiscs, characteristics, differential and integral calculus and whose application in economic questions)

Optional content:
[7]: Fucntions with more variabels (basiscs, characteristics, differential and integral calculus and whose application), rates of change, elasticities

The digital competences of the participants will be promoted in the course by the application of the learned contents in state of the art software (Excel, R, Python, etc).

Learning outcomes

Graduates possess basic knowledge of business and financial mathematics, understand the basics of data analysis, apply them and use statistical methods to describe data. In addition, students are able to check data for their quality and understand how simulations work. Likewise, students have knowledge of corporate accounting and are familiar with the principles of bookkeeping, the double-entry accounting system, can book business transactions and can describe and present transactions and relationships in the balance sheet and income statement.

Recommended or required reading and other learning resources / tools

Literature: Grohmann-Steiger, Schneider, Dobrovits: Einführung in die Buchhaltung im Selbststudium;
Wagenhofer, Ewert, Externe Unternehmensrechnung;
Ewert, Wagenhofer, Interne Unternehmensrechnung;
Knut Sydsaeter / Peter Hammond: Mathematik für Wirtschaftswissenschaftler;
Albrecht, P., Grundprinzipien der Finanz- und Versicherungsmathematik;
Schira: Statistische Methoden der VWL und BWL;
Zwerenz: Statistik - Einführung in die computergestützte Datenanalyse;

Mode of delivery


Prerequisites and co-requisites


Assessment methods and criteria

Final examination including continuous in-lecture assessment