Basic Quantitative Methods

Module title	Basic Quantitative Methods
Module code	BEE1035
Academic year	2024/5
Credits	15
Module staff	Dr Giancarlo Ianulardo (Convenor)

Duration: Term	1	2	3
Duration: Weeks	11

Number students taking module (anticipated)	170

Module description

This module aims to bring students without A level Mathematics at Grade B or above - (or equivalent) - up to a sufficient level to enable you to become familiar with those mathematical tools and methods which are used frequently in the economics programmes and modules. In particular, this module will show you how they are applied and you will be able to practice this in lectures and tutorials. This is a compulsory module for Business Economics and Economics and Politics students without A level or equivalent. Please check with the module convener if you are unsure whether you need to take this module. This module is only to be taken by first year students.

Additional Information:

Internationalisation

Mathematics is a global language, so the technical skills students acquire in this module can be used internationally.

Employability

By solving statistical mathematical problems and exercises, students are equipped with practical problem-solving skills, theoretical skills, and an understanding of mathematical relationships. All of these are highly valuable to employers.

Sustainability

All of the resources for this module are available on the ELE (Exeter Learning Environment).

Module aims - intentions of the module

Economic problems are often expressed using mathematical models which are to be formulated, analysed and then confronted with real-world data. In particular we address economics problems with optimisation techniques which require a basic knowledge of calculus. This module aims to bring non-Mathematics A- level students up to a sufficient level to then be able to continue on to BEE 1024. The module is therefore the first step in enabling you to become familiar with those mathematical tools and methods which are used frequently in most economic modules and to show they are applied. This module is therefore intended for first year students only.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

1. demonstrate developed or improved (revisited) skills in basic arithmetic;
2. carry out algebraic manipulations and demonstrate the ability to solve simple optimisation problems.

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

3. demonstrate developed or improved skills including differentiating functions in one or several variables
4. process algebraic manipulations and solve simple optimisation problems specifically with application to economics.

ILO: Personal and key skills

On successfully completing the module you will be able to...

5. demonstrate significantly improved numeracy and general quantitative skills;
6. demonstrate the ability for logical and structured problem analysis

Syllabus plan

Review of basic arithmetic and algebra:

This includes fractions, order of operations, powers, factorisation, solving equations/inequalities, simultaneous equations.

Geometric properties of functions, sign diagrams. (Weeks 1-4)
Calculus for functions in one variable, differentiation and applications to Economics (Weeks 5-8)
Integration: Definite and Indefinite (Weeks 9-10)
Optimisation with economic applications (Week 11)
Revision (Week 12)

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
32	118	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Scheduled Learning & Teaching activities	22	Lectures
Scheduled Learning and Teaching Activity	10	Tutorials
Guided Independent Study	118	Reading, preparation for classes and assessments

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Exercises	Weekly	1-6	In-class solutions and posted answers

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
0	100	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Mid-Term Exam	20	40 minutes	1-6	Exam results with solutions and comments
Final Exam	80	90 minutes	1-6	Exam results with solutions and comments

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
Mid-term exam (20%)	Examination (40 minutes, 20%)	1-6	Referral/Deferral Period
Final Examination (80%)	Examination (90 minutes, 80%)	1-6	Referral/Deferral Period

Re-assessment notes

Deferrals will take place as soon as possible within the same term;

Referrals** and any further deferrals will take place in the August/September Reassessment Period.

Indicative learning resources - Basic reading

Sydsaeter K. and P. J. - Hammond, (2021), Essential Mathematics for Economic Analysis 6th ed., Prentice Hall.

Geoff Renshaw, (2021), Maths for Economics 5th ed., Oxford University Press.

Jacques I., (2018), Mathematics for Economics and Business, 9^th ed., Pearson.

Indicative learning resources - Web based and electronic resources

ELE – http://vle.exeter.ac.uk/course/view.php?id=165

Key words search

Mathematical economics; economic analysis

Credit value	15
Module ECTS	7.5
Module pre-requisites	None.
Module co-requisites	Non-Req: Cannot be taken with BEE1024 in the same academic year Not available to 2^nd year AF students, Maths students or Direct Entry Business Economics students.
NQF level (module)	4
Available as distance learning?	No
Origin date	13/08/2015
Last revision date	08/03/2023