This is an undergraduate course which aims to provide students of Business Mathematics Specialization with the basic ideas of probability required for the study of Economics and related subjects.

After completing this class successfully the student will have the ability to:

• Define, describe and work with the basic concepts in probability,

• Understanding and modeling of random phenomenon,

• Use methods and ideas from probability to solve simple real-world problems.

Students have to attend at least 10 of the 12 lectures, at most two lectures can be missed. In case of illness a medical attest is necessary. In exceptional cases students have to inform the lecturer in advance. Unit 10, 11 (presentation of projects) and unit 12 (exam) may not be missed.

These rules apply also to online units.

The course consists of lectures and accompanying weekly tutorials The lecture part presents the theoretical concepts and gives examples. Students can work out a project in applied probability related to the taught material. In times of distance learning the tutorials are replaced by exercises as homework.

In case of distance learning:

• 25% weekly tutorials or homework exercises
• 35% final exam
• 40% project in applied probability

There will be no opportunity to retake the final exam.

Successful completion of Analysis and Linear Algebra course is necessary.

Please log in with your WU account to use all functionalities of read!t. For off-campus access to our licensed electronic resources, remember to activate your VPN connection connection. In case you encounter any technical problems or have questions regarding read!t, please feel free to contact the library at readinglists@wu.ac.at.