Module ECOS1101: QUANTITATIVE METHODS

Department: ECONOMICS FINANCE AND BUSINESS (BUSINESS FINANCE) [Queen's Campus, Stockton]

ECOS1101: QUANTITATIVE METHODS

Prerequisites

• None.

Corequisites

• All other compulsory Level 1 modules in the degrees for which this module is compulsory.

Excluded Combination of Modules

• None.

Aims

• To introduce students to the essential analytical and statistical techniques necessary in a finance degree and to provide a foundation for further study in econometrics.

Content

• The use of mathematics, both algebraic and geometric, in describing business situations, such as demand, supply and market equilibrium.
• The use of mathematics in analysing issues of finance such as interest accrual, debt repayment, annuities, the value of bonds and present values.
• The use of differential calculus, particularly in problems concerning optimisation, such as profit maximisation.
• Elementary probability, presentation and analysis of data.
• descriptive and elementary inferential statistics.

Learning Outcomes

• To prepare students for successful study of second year core modules in finance.
• By the end of the module students should have acquired an array of mathematical and statistical skills widely used in finance.
• They should be able to identify which mathematical techniques is required for solving particular problems and be well prepared in those mathematical areas necessary for suitable progression to such stage of final honours as Finance, Microeconomics, Macroeconomics and Data Analysis for Finance.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Lectures will deliver essential material in an efficient way to a large audience and will identify key reading and exercises.
• Workshops will enable smaller group work to practice problem-solving and will enable students to match techniques to problems.
• Support classes will enable those students who find the material especially challenging (perhaps because of their mathematical background prior to University) to seek and get additional practice at problem-solving.
• The summative assessment – by unseen written exam and assignment – is designed to test students’ knowledge and understanding of the techniques and their ability to apply them to meet the learning outcomes specified.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

No collections. Exercises will be completed over the year, two sets to be handed in and marked. Other exercises will be set and will be self marked, with solutions made available to students.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University