AN are mathematical functions that are used to calculate running time and rate of growth of an algorithm.Order of growth of computing time: logN, N, NlogN, N^2, 2^n.Factors affecting running time: Speed of computer, compiler used, programming language, algorithm of choice, types and size of input/output.Constants are ignored to focus on algorithm performance for larger values of input.Types of Asymptotic Notations: Big O (worst case), Big Omega (lower bound), Bit Theta (average case).