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Mathematics for Business

Course Title

Mathematics for Business


MST 110


Igor Ivanovski, PhD (Associate Professor)

Violeta Cvetkoska, PhD (Associate Professor)

Course objectives (competences):  After successfully passing this exam the students should be able

  • To understand the meaning, essence and need for application of basic and advanced mathematical procedures and methods in solving numerous problems of economic theory and practice. 
  • To develop quantitative analytical ability, for further participation in practical research, from the aspect of quantitative expression of the phenomena and problems from the economic theory and practice 
  • To be able to effectively master and develop the curriculum in the following subjects, primarily in the field of applied economics and quantitative processes at the macro and micro level to gain specific and applied ability in-depth and     
  • holistic quantitative analysis and construction of logical instrumentation for solving complex problems. 
  • To acquire knowledge of a continuous system for empirical interpretation of economic data and results


Course content:

The course provides knowledge of basic theoretical and applied knowledge and concepts of arrays and sequences, the concept of limit value, the basics of combinatorics, binomial and trinomial series, the study of the application of classical and statistical probability, the elements of linear algebra and vector analysis multivariate functions through the study of derivatives and indeterminate and definite integrals and the application of the development of the McLaren and Taylor order, as well as the introductory knowledge of empirically defined functions (with linear, logarithmic, exponential, parabolic and hyperbolic dependence), the application of the concept of simple interest in economics and especially the implementation of complex discrete (decursive and anticipatory, long-term) financial by studying the concept of futures and discounted value, periodic investments and periodic rents and credit models, with different combinations of decursive and anticipatory interest rates and equal and rounded annuities.

70 години

Во 2020 Економскиот факултет при Универзитетот “Св. Кирил и Методиј” во Скопје слави 70 години од своето основање.