Module FOUD0717: Further Maths for Marketing and Management

Department: Foundation Year (Durham)

FOUD0717: Further Maths for Marketing and Management

Prerequisites

• Core Foundation Maths for Business

Corequisites

• None

Excluded Combination of Modules

• None.

Aims

• To improve confidence in algebraic manipulation through the study of mathematical techniques and development of investigative skills.
• To introduce the use of mathematics in financial applications
• To provide further opportunity for students to engage in logical reasoning, algorithmic thinking and applications
• to introduce and develop a knowledge of matrices and their applications.
• To introduce complex numbers.
• To introduce the concept of linear programming

Content

• Use of mathematical in financial applications
• Bipartate Graphs and matchings
• Shortest paths in networks (Dijkstra's algorithm)
• Minimum tour (post man problem)
• Critical path analysis
• Spanning trees (Prim's and Kruska's algorithm and travelling salesperson problem)
• Matrices (nxm): addition, subtraction, multiplication, determinant, transpose, inverse. Applications to simultaneous equations.
• Complex numbers: +, -, x, /, complex conjugate, Argand diagrams,.
• Linear Programming
• Matrices 2x2 and nxm, addition, subtraction and multiplication, determinant, transpose and inverse. Applications to simultaneous equations.

Learning Outcomes

• State the formulae used in specific financial applications.
• State the rules for addition, subtraction and multiplication of matrices and for finding inverses. (SSK2)
• Solve a range of predictable problems in Discrete Mathematics. (SK3)

• By the end of this module the student will have acquired the skills to be able to:
• recall, select and use mathematics within a variety of financial contexts
• confidently manipulate a range of algebraic expressions and use a range of techniques as needed in a variety of contexts or as required in problems appropriate to the syllabus. (SS2)
• understand and use complex numbers in a range of simple situations as appropriate to the syllabus. (SS3)
• use matrices in a number of mathematical situations. (SS4)
• Use a series of equations and inequalities to solve problems using linear programming techniques. (SS5)
• apply mathematics to a variety of problems (SS6)

• By the end of the module students will:
• be able to apply number in the tackling of numerical problems
• be able to demonstrate problem solving skills
• In class tests cover SK1-2, SS1-6, KS1, KS2
• Invigilated end of module test covers SK1-3, SS1-6, KS1, KS2
• Portfolio covers SK1-3, SS 1-6, KS1, KS2,

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

• Theory, initial concepts and techniques will be introduced during lectures.
• Much of the learning, understanding and consolidation will take place through the use of structured worksheets during tutorials and students' own time.
• Small coursework tasks testing, developing or consolidating the previous week’s work will be set usually on a weekly basis. These tutor marked tasks allow rapid feedback and build confidence. Whilst the marks accumulate towards the overall portfolio mark, the tasks also perform a formative role enabling students to reflect on their own performance, identify areas of weakness, and practice some of the skills and techniques which will be required in the longer in-class tests and invigilated end of module test. Additionally, they ensure that students master specific skills to an appropriate level prior to their requirement in more complex tasks. As an example, an early task on differentiation might require students to differentiate four functions. Tutor feedback from this task ensures that students are ready to build on these skills when moving onto integration.
• Ability to recall, select and use knowledge will be tested by a short class test and an end of module invigilated test in addition to the portfolio of tasks. The class test which will be given in four separate 15 minute sub-tests, will focus on selected subsets of the content. In addition to their summative role, these tests also serve a formative function helping to prepare students for the end of module exam which will test a wider area of content

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Students will be given self-testing units on a weekly basis in the form of worksheets with answers and/or DUO quizzes. Portfolio tasks with a rapid marking turnaround fulfill a formative as well as summative role (See Section 14). Students have access to two or more mock papers and answers to help prepare for the end of module test.

■ 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