Module BIC-1004:
Maths for Business & Finance

Module Facts

Run by Marketing: Bangor International College

20 Credits or 10 ECTS Credits

Semester 1 & 2

Organiser: Mrs Laura McKenzie

Overall aims and purpose

The module will introduce students to mathematics and statistics essential for further study in Business, Finance and Economics. It aims to promote self-motivation and the ability to work in a sustained way and to develop attitudes and skills such as accuracy, logical thought, rigour, enquiry, initiative and insight. The module will encourage application of the techniques taught to a range of practical problems and seek to develop in students an appreciation of the role mathematics and statistics has to play in underpinning the study of other subjects.

Course content

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.

Assessment Criteria

threshold

Threshold (D- to D+) (40-49%)

Student has shown sufficient grasp of some of the topics studied to have achieved the lowest level of pass which allows progression onto an undergraduate degree programme

good

Good (C- to B+) (50-69%)

Student has demonstrated a sound, basic knowledge of most of the topics and issues covered in the module and achieved a grade showing clear suitability for study at undergraduate degree level.

excellent

Excellent (A- to A*) (70-100%)

Student has demonstrated consistent engagement with all topics and issues studied in the module and attained a grade which shows the ability to study effectively at undergraduate degree level.

Learning outcomes

  1. Understand the application of financial mathematics techniques to value cash flows that take place over time.

  2. Describe data using graphical and numerical methods, and use the tools of probability to represent situations of uncertainty.

  3. Apply all techniques to business, economics and finance problems involving cash flows such as revenues, costs, profit and interest.

  4. Derive and manipulate algebraic equations, solve simultaneous linear equations and quadratic equations, differentiate and solve optimisation problems.

Assessment Methods

Type Name Description Weight
CLASS TEST Term 2 - Interim test

Covers content covered up until this point. Answer key.

10
CLASS TEST Term 1 - Interim test

Covers content covered up until this point. Answer key.

10
EXAM Term 1 - Exam

End of term 1 exam. Answer key.

40
EXAM Term 2 - Exam

End of term 2 exam. Answer key.

40

Teaching and Learning Strategy

Hours
Lecture

1 hour a week over 2 terms

20
Workshop

4 hours a week over 2 terms

80
Private study

Students will be expected to spend up to 100 hours over the two semesters in independent study.

100

Transferable skills

  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy

Subject specific skills

Numeracy: Proficiency in using numbers at appropriate levels of accuracy. Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.

Resources

Reading list

Croft, A. & Davison, R. 2010. Foundation Maths. 5th ed. Prentice Hall. Morris, C. 2011. Quantitative Approaches in Business Studies. 8th ed. FT Prentice Hall. Curwin, J., Slater, R. and Eadson, D. (2015). Quantitative methods for business decisions, seventh edition. Cengage Learning. Newbold, P., Carlson, W.L. and Thorne, B. (2013). Statistics for Business and Economics, 8th ed. Harlow: Pearson.

Courses including this module