Run by Bangor Business School
20 Credits or 10 ECTS Credits
Semester 1 & 2
Organiser: Dr Gwion Williams
Overall aims and purpose
Note: The 10-credit module ASB-1111 Introduction to Quantitative Methods comprises the Semester 1 content of ASB-1101.
To develop mathematical skills to a level that allows the use of quantitative techniques in a wide variety of business and economics applications.
Manipulation of algebraic expressions and the solution of equations; Simultaneous linear equations, quadratic equations, and economics applications; Descriptive statistics: measures of location and dispersion; Measuring uncertainty using probability; Gradients, rates of change, rules of differentiation; Marginal functions and elasticities, maximisation of a function of one variable, profit maximisation; Functions of two variables, joint production; Financial mathematics: compound interest and discounting, net present value and investment appraisal.
Demonstration of the ability to perform algebraic manipulations, solve simple equations, differentiate and optimise a function of a single variable, and be able to relate the procedures to the solution of some standard microeconomic problems.
In addition to the above, more competence in solving linear and quadratic equations, partial differentiation and optimisation involving two variables and the ability to solve a variety of applied problems in microeconomics.
In addition to the above, the ability to succinctly interpret the results and to demonstrate a clear understanding of the underlying assumptions, including marginal conditions and first and second order conditions for optimisation.
Derive and manipulate algebraic equations, solve simultaneous linear equations and quadratic equations, differentiate and solve optimisation problems.
Describe data using graphical and numerical methods, and use the tools of probability to represent situations of uncertainty.
Understand the application of financial mathematics techniques to value cash flows that take place over time.
Apply all techniques to business, economics and finance problems involving cash flows such as revenues, costs, profit and interest.
|CLASS TEST||Test 1||10|
|CLASS TEST||Test 2||10|
|EXAM||Exam S1 2hrs||30|
|EXAM||Exam S2 2hrs||30|
Teaching and Learning Strategy
One 2-hour lecture per week
2 hour non-compulsory drop-in workshop per week
150-hours per year of individual study to practice key lecture concepts, and preparation for tutorials and assessments.
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
Subject specific skills
- Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
Pre- and Co-requisite Modules
Courses including this module
Compulsory in courses:
- N400: BA Accounting and Finance year 1 (BA/AF)
- N401: BA Accounting & Finance (with International Experience) year 1 (BA/AFIE)
- NR43: BA Accounting/Italian year 1 (BA/AIT)
- NR44: BA Accounting/Spanish year 1 (BA/ASP)
- N322: BA Banking and Finance year 1 (BA/BIF)
- NR33: BA Banking/Italian year 1 (BA/BIT)
- NN13: BA Business Studies and Finance year 1 (BA/BSF)
- NN14: BA Business Stud & Finance (with International Experience) year 1 (BA/BSFIE)
- NN15: BA Business Studies and Marketing year 1 (BA/BSM)
- NR34: BA Banking/Spanish year 1 (BA/BSP)
- N100: BA Business Studies year 1 (BA/BUSS)
- N102: BA Business Studies (with International Experience) year 1 (BA/BUSSIE)
- L1T1: BA Economics and Chinese year 1 (BA/ECCH)
- LR13: BA Economics/Italian year 1 (BA/ECIT)
- LL13: BA Sociology/Economics year 1 (BA/ECS)
- LR14: BA Economics/Spanish year 1 (BA/ECSP)
- NR41: BA French/Accounting year 1 (BA/FRA)
- NR31: BA French/Banking year 1 (BA/FRB)
- LR11: BA French/Economics year 1 (BA/FREC)
- NR42: BA German/Accounting year 1 (BA/GA)
- NR32: BA German/Banking year 1 (BA/GB)
- LR12: BA German/Economics year 1 (BA/GEC)
- LV11: BA History/Economics year 1 (BA/HEC)
- N2N4: BA Management with Accounting year 1 (BA/MAF)
- N500: BA Marketing year 1 (BA/MK)
- LL14: BA Social Policy/Economics year 1 (BA/SPEC)
- NN44: BSc Accounting and Banking with International Experience year 1 (BSC/ABIE)
- NN43: BSc Accounting and Banking year 1 (BSC/ACCB)
- NL41: BSc Accounting and Economics year 1 (BSC/ACCEC)
- NN4H: BSc Accounting and Finance year (BSC/ACCFIN)
- N402: BSc Accounting & Finance (with International Experience) year 1 (BSC/ACCFINIE)
- NL42: BSc Accounting and Economics with International Experience year 1 (BSC/AEIE)
- L190: BSc Business Economics year 1 (BSC/BEC)
- N391: BSc Banking and Finance year 1 (BSC/BFIN)
- N101: BSc Business Studies year 1 (BSC/BS)
- NNM1: BSc Business Studies & Marketing with Intl Experience year 1 (BSC/BSMIE)
- NN1M: BSc Business Studies and Marketing year 1 (BSC/BSMKT)
- L111: BSc Financial Economics year 1 (BSC/FINEC)
- N2NK: BSc Management with Accounting year 1 (BSC/MWACC)