Description
Mathematics for Business
| Module title | Mathematics for Business |
|---|---|
| Module code | INT0034 |
| Academic year | 2021/2 |
| Credits | 20 |
| Module staff | Joaquin Navarrete Navarro (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 10 |
| Number students taking module (anticipated) | 100 |
|---|
Description - summary of the module content
Module description
It is essential for a manager in today’s business environment to be able to interpret statistical data and present statistical information. In this module you will learn how to describe, understand and present situations graphically and how to draw conclusions from such representations. You will learn how to carry out essential business calculations that are common in your business studies modules and how to make the best decision from a set of different possibilities.
Module aims - intentions of the module
This module aims to provide a foundation in mathematics and data handling methods for students who intend to follow a degree programme in Management or Accounting. Students will be expected to manage their time successfully in order to complete a series of coursework and other tasks.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Demonstrate an understanding of basic numerical principles
- 2. Apply basic algebraic techniques
- 3. Draw and interpret graphs and other statistical diagrams
- 4. Apply mathematical techniques to a range of real-life situations
- 5. Select the optimal solution to a business-related problem
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 6. Carry out calculations necessary for the discipline studied
- 7. Manipulate formulae appropriate to the discipline studied
- 8. Present and interpret data in an appropriate manner for the discipline studied
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 9. Analyse, interpret and illustrate data using a variety of techniques
- 10. Collect data avoiding common mistakes
- 11. Select the correct tools and functions to handle data, find information from it and develop tables/charts in appropriate software
Syllabus plan
Syllabus plan
1. Number: fractions, decimals, percentages, mixed numbers, approximation, decimal places, significant figures, currency conversion, percentage change, indices.
2. Algebra: multiplication, factorization, substitution, rearranging formula, solving equations, linear inequalities.
3. Coordinate geometry: equation of a straight line, quadratic curves, translations of curves.
4. Linearly Constrained Optimisation.
5. Series: sigma notation, arithmetic, geometric progressions, compound interest problems.
6. Probability: Simple events with or without replacement, Venn diagrams, Tree diagrams.
7. Statistics: the statistical process, population and sample.
Data collection methods, Sampling methods, sampling error.
Organisation of data, tally charts, frequency tables.
Comparison of data sets and drawing conclusions.
Measures of location, Measures of dispersion, outliers.
Presenting data: Moving averages, trend lines, Stem and leaf diagrams, Gantt charts, Bar charts, Pie charts, Box and Whisker diagrams, Histograms, Cumulative frequency graphs, Scatter graph.
8. The normal distribution
Learning and teaching
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 60 | 140 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching activities | 60 | Small group lessons, including lectures, examples, practice and use of computing techniques. |
| Guided independent Learning | 140 | Study written notes, practise examples, use resources supplied on ELE and other on-line learning material. |
Assessment
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Practice online final exam quiz | 2 hours | 1-10 | Verbal and answers on ELE |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 30 | 70 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Coursework assignments | 30 | Several online Computer Marked Assessments (usually 3) and Coursework (usually 2) each taking approximately 3 hours | 1-11 | Online feedback |
| Final Examination (open book) | 70 | 2 hour online quiz | 1-10 | Written feedback on formally submitted request |
Re-assessment
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Examinations | Examination (2 hour online quiz) | 1-11 | Next assessment period |
Re-assessment notes
Deferral – if you miss an assessment for reasons judged legitimate by the Mitigation Committee, the applicable assessment will normally be deferred. See ‘Details of reassessment’ for the form that assessment usually takes. When deferral occurs there is ordinarily no change to the overall weighting of that assessment.
Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be required to take a re-sit exam. Only your performance in this exam will count towards your final module grade. A grade of 40% will be awarded if the examination is passed.
Resources
Indicative learning resources - Basic reading
Basic reading:
Croft A., et al: Mathematics for Business. Harlow: Pearson 978-1-78764-534-9
Croft A. and Davison R. Foundation Maths. London: Pearson 987 1 292 095172
Attwood G., et al: Statistics and Mechanics: Edexcel AS and A level Mathematics. London: Pearson978 1 292 232539
Attwood G., et al: Pure Mathematics: Edexcel AS and A level Mathematics. London: Pearson978 1 292 183398
Indicative learning resources - Web based and electronic resources
ELE – http://vle.exeter.ac.uk/course/view.php?id=7308
Module has an active ELE page
Indicative learning resources - Other resources
Other resources: www.Integralmaths.org
| Credit value | 20 |
|---|---|
| Module ECTS | 10 |
| Module pre-requisites | None |
| Module co-requisites | None |
| NQF level (module) | 3 |
| Available as distance learning? | Yes |
| Origin date | 08/05/2018 |
| Last revision date | 30/07/2021 |