Braunschweig, Germany

Financial and business mathematics

Finanz- und Wirtschaftsmathematik

Master's
Language: GermanStudies in German
Subject area: economy and administration
Qualification: Master
Kind of studies: full-time studies, part-time studies
University website: www.tu-braunschweig.de
Business
Business is the activity of making one's living or making money by producing or buying and selling goods or services. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.
Business Mathematics
Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis. Mathematics typically used in commerce includes elementary arithmetic, elementary algebra, statistics and probability. Business management can be done more effectively in some cases by use of more advanced mathematics such as calculus, matrix algebra and linear programming.
Mathematics
Mathematics (from Greek μάθημα máthēma, "knowledge, study, learning") is the study of such topics as quantity, structure, space, and change. It has no generally accepted definition.
Mathematics
I united the majority of well-informed persons into a club, which we called by the name of the Junto, and the object of which was to improve our understandings. ... The first members of our club were...
Thomas Godfrey, a self-taught mathematician, and afterwards inventor of what is now called Hadley's dial; but he had little knowledge out of his own line, and was insupportable in company, always requiring, like the majority of mathematicians that have fallen in my way, an unusual precision in everything that is said, continually contradicting, or making trifling distinctions—a sure way of defeating all the ends of conversation. He very soon left us.
Benjamin Franklin, The Life and Miscellaneous Writings of Benjamin Franklin (1839)
Mathematics
By relieving the brain of all unnecessary work, a good notation sets it free to concentrate on more advanced problems, and in effect increases... mental power... Probably nothing in the modern world would have more astonished a Greek mathematician than to learn that, under the influence of compulsory education, the whole population of Western Europe, from the highest to the lowest, could perform the operation of division for the largest numbers. This fact would have seemed to him a sheer impossibility.
Alfred North Whitehead, An Introduction to Mathematics (1911) Ch. 5, p. 59.
Mathematics
A mathematician, like a painter or poet, is a maker of patterns. If his patterns are more permanent than theirs, it is because they are made with ideas.
G. H. Hardy, A Mathematician's Apology (London 1941).. Quotations by Hardy. Gap.dcs.st-and.ac.uk. Retrieved on 27 November 2013.
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