Calculus for the Social Sciences

Upon completion of this course, successful students will be able to:

• evaluate elementary limits involving algebraic, exponential, logarithmic and trigonometric functions.
• describe the concept of continuity and determine intervals upon which a function is continuous.
• apply the intermediate value theorem.
• find average and instantaneous rates of change.
• define derivatives and relate them to tangent line slopes and instantaneous rates of change.
• use differentiation rules to compute the derivatives of algebraic, exponential, logarithmic, trigonometric and implicit functions.
• formulate and solve problems involving marginal analysis, elasticity, points of diminishing returns, and other forms of economic modeling.
• apply the concepts of differentials and linear approximations to applications in business and social sciences.
• sketch graphs of functions by applying first and second derivative techniques as well as analysis of vertical, horizontal and slant asymptotes.
• use differentiation to determine the local and absolute extrema of functions.
• use calculus methods to solve problems of time value of money: interest, annuities, loans, investments and the value of a continuous money flow.

Additional topics that may be included in the course:

• compute the definite and indefinite integral of a function.
• use integration techniques (substitution, integration by parts and others) to compute integrals.
• apply the integral to problems in business and the social sciences.
• use Newton’s method to determine points of intersection.
• solve problems involving Markov Chains, Linear Programming and Game Theory.