Module ECOS1101: QUANTITATIVE METHODS

Department: Business School (Economics and Finance) [Queen's Campus, Stockton]

ECOS1101: QUANTITATIVE METHODS

Tied To

• N102: Business with Placement Year (see Undergraduate Handbook 2014-2015 for details)
• N200: Business (see Undergraduate Handbook 2014-2015 for details)
• N204: Accounting and Management with Business Placement
• N206: Accounting and Management with Study Abroad
• N300: Business Finance with Placement Year (see Undergraduate Handbook 2012-2013 for details)
• N301: Business Finance with Business Placement
• N302: Accounting and Finance with Business Placement
• N303: Business Finance with Study Abroad (see Undergraduate Handbook 2014-2015 for details)
• N304: Accounting and Finance with Study Abroad
• N401: Management Accounting
• N402: Financial Accounting
• N403: Financial Accounting with Business Placement
• N404: Management Accounting with Business Placement
• N405: Financial Accounting with Study Abroad
• N406: Management Accounting with Study Abroad
• N420: Business Finance
• NN24: Accounting and Management with Placement Year (see Undergraduate Handbook 2012-2013 for details)
• NN34: Accounting and Finance with Placement Year (see Undergraduate Handbook 2012-2013 for details)
• NN42: Accounting and Management
• NN43: Accounting and Finance

Pre-requisites

Corequisites

Excluded Combinations

Aims

• To introduce students to the essential analytical and statistical techniques necessary in their degrees, to support other year 1 modules and to provide a foundation for further study.

Content

• The use of mathematics, both algebraic and geometric, in describing business situations, such as demand, supply and market equilibrium.
• The use of differential calculus, particularly in problems concerning optimisation, such as profit maximisation.
• Descriptive statistics
• Probability, random variables and probability distributions
• Inferential statistics (including confidence intervals and hypothesis tests)
• Introduction to regression analysis

Learning Outcomes

• By the end of the module students:
• should have acquired an array of mathematical and statistical skills widely used in finance and business.
• should be prepared for successful study of second year core modules in finance, economics and business.
• should be able to identify which mathematical technique is required for solving particular problems and be well prepared in those mathematical areas necessary for suitable progression to final honours in Finance, Microeconomics, Macroeconomics and Data Analysis for Finance.
• should have acquired a range of analytical mathematical skills

• Students will have enjoyed extensive practice in problem solving.

• Written communication - through formative and summative assessment.
• Planning and organisation and time management - e.g. by preparing for workshops, by revising relevant material and preparing for the summative assessment and examination.
• Problem solving and analysis - e.g. by applying the necessary analytical and quantitative skills.
• Initiative - by searching relevant literature and information in preparation for assessed work.
• Numeracy - e.g. by applying core mathematical and statistical skills to solve a range of problems.
• Computer literacy - e.g. by accessing, and downloading teaching material from DUO and by using statistical software and spreadsheets to prepare for workshops and to complete assignments.

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.
• Seminars will enable smaller group work to practice problem-solving and will enable students to match techniques to problems.
• Formative assessment is by means of exercises throughout the year.
• Summative assessment is by means of a written examination.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

Exercises will be completed throughout 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.