Run by Bangor Business School
10 Credits or 5 ECTS Credits
Organiser: Dr Gwion Williams
Overall aims and purpose
To develop mathematical skills to a level that allows the use of quantitative techniques in a wide variety of Financial and Economic applications.
- Gradients and introduction to differentiation.
- Price elasticity and firm production functions.
- Second derivatives and optimization problems.
- Time-value of money: Future values of capital sums and savings plans; Present values of capital sums and annuities. Compound interest.
- Investment appraisal: Net Present Value (NPV) and Internal Rate of Return (IRR).
- Investment risk and return.
Excellent standard: A- to A+ (70%+) Class 1 An outstanding performance, exceptionally able. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
D- to D+ (40-49%) No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives
High Standard: B- to B+ (60-69%) Class 2.1 Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
C- to C+
C- to C+ (50-59%) Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
Understand the application of financial mathematics techniques to value cash flows that take place over time.
Derive and manipulate algebraic equations, differentiate and solve optimization problems.
Apply all techniques to business, economics and finance problems involving cash flows such as revenues, costs, profit and interest.
|CLASS TEST||Class test||
Class test testing knowledge of the skills covered
Examination testing knowledge of the material covered during the semester
Teaching and Learning Strategy
2-hour drop in workshop per week.
One 2-hour lecture per week;
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
- Exploring - Able to investigate, research and consider alternatives
- Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
- Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
- Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others
Subject specific skills
- Framing. Through the study of economics, a student should learn how to decide what should be taken as given or fixed for the purposes of setting up and solving a problem, i.e. what the important 'parameters' are in constraining the solution to the problem. Learning to think about how and why these parameters might change encourages a student to place the economic problem in its broader social and political context. This 'framing' skill is important in determining the decision-maker's ability to implement the solutions to problems.
- Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
Resource implications for students
There are no resource implications for students
Jacques, I. (2013). Mathematics for economics and business, 7th ed. Pearson.
Courses including this module
Compulsory in courses:
- NR43: BA Accounting/Italian year 1 (BA/AIT)
- NR44: BA Accounting/Spanish year 1 (BA/ASP)
- NR33: BA Banking/Italian year 1 (BA/BIT)
- NR34: BA Banking/Spanish year 1 (BA/BSP)
- 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)
- LL2B: BA Sociology & Economics (4 yr with Incorporated Foundation) year 2 (BA/ECS1)
- 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)
- LL14: BA Social Policy/Economics year 1 (BA/SPEC)
- LL1B: BA Social Policy & Economics (4yr with Incorp Foundation) year 2 (BA/SPEC1)
- NN44: BSc Accounting and Banking with International Experience year 1 (BSC/ABIE)
- NN43: BSc Accounting and Banking year 1 (BSC/ACCB)
- NN46: BSc Accounting and Banking (4 year with Incorp Found) year 2 (BSC/ACCB1)
- NL41: BSc Accounting and Economics year 1 (BSC/ACCEC)
- NL4B: BSc Accounting and Economics (4 year with Incorp Foundation) year 2 (BSC/ACCEC1)
- NN4J: BSc Accounting and Finance (4 year with Incorp Found) year 2 (BSC/ACCF1)
- NN4H: BSc Accounting and Finance year 1 (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)
- L19B: BSc Business Economics (4 year with Incorporated Foundation) year 2 (BSC/BEC1)
- L191: BSc Business Economics with International Experience year 1 (BSC/BECIE)
- 8V55: BSc Banking and Finance (with International Experience) year 1 (BSC/BFIE)
- N391: BSc Banking and Finance year 1 (BSC/BFIN)
- N39B: BSc Banking and Finance (4 year w Incorporated Foundation) year 2 (BSC/BFIN1)
- NN1H: BSc Business Studies and Finance year 1 (BSC/BSFIN)
- NN1J: BSc Business Studies and Finance (4 year with Incorp Found) year 2 (BSC/BSFIN1)
- L111: BSc Financial Economics year 1 (BSC/FINEC)
- L11B: BSc Financial Economics (4 year w Incorporated Foundation) year 2 (BSC/FINEC1)
- N2NK: BSc Management with Accounting year 1 (BSC/MWACC)
- N2NL: BSc Management with Accounting (4 year with Incorp Found) year 2 (BSC/MWACC1)
- M1N4: LLB Law with Acc and Finance year 1 (LLB/LAF)
- M1NB: LLB Law with Accounting & Finance (4yr with Incorp Found) year 2 (LLB/LAF1)
Optional in courses:
- N1R1: BA Bus Stud with French year 1 (BA/BSFR)
- N1R2: BA Business Studies with German year 1 (BA/BSGER)
- N1R3: BA Business Studies with Italian year 1 (BA/BSIT)
- N1R4: BA Business Studies with Spanish year 1 (BA/BSSP)
- N1T1: BA Business Studies and Chinese year 1 (BA/BUSCH)
- N100: BA Business Studies year 1 (BA/BUSS)
- NR1C: BA Business Studies/French year 1 (BA/BUSSF)
- NR1F: BA Business Studies and German year 1 (BA/BUSSG)
- NR1H: BA Business Studies and Italian year 1 (BA/BUSSI)
- NR1K: BA Business Studies and Spanish year 1 (BA/BUSSS)
- N5R3: BA Marketing with Italian year 1 (BA/MKITAL)
- N5R1: BA Marketing with French year 1 (BA/MKTFR)
- NR51: BA Marketing and French (4 year) year 1 (BA/MKTFR#)
- N5R2: BA Marketing with German year 1 (BA/MKTGER)
- NR52: BA Marketing and German (4 year) year 1 (BA/MKTGER4)
- NR53: BA Marketing and Italian (4 year) year 1 (BA/MKTITAL)
- NR54: BA Marketing and Spanish (4 year) year 1 (BA/MKTSP)
- N5R4: BA Marketing with Spanish year 1 (BA/MKTSP#)
- N101: BSc Business Studies year 1 (BSC/BS)
- N10B: BSc Business Studies (4 year with Incorporated Foundation) year 2 (BSC/BS1)
- NNM1: BSc Business Studies & Marketing with Intl Experience year 1 (BSC/BSMIE)
- NN1M: BSc Business Studies and Marketing year 1 (BSC/BSMKT)
- NN1K: BSc Business Studies & Marketing (4 year with Incorp Found) year 2 (BSC/BSMKT1)
- N501: BSc Marketing year 1 (BSC/MKT)
- N50B: BSc Marketing (4 year with Incorporated Foundation) year 2 (BSC/MKT1)
- C6N1: BSc Sport Science and Business year 1 (BSC/SSB)