Intro. to Quantitative Methods
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 business and economics applications.
Specialisation and comparative advantage, the basis for exchange; Demand and supply in perfect competition; Market imperfections; monopoly, oligopoly and monopolistic competition; Interdependency and games theory; Externalities and property rights, economics of information, labour markets; Economics of public policy, public goods and taxation, income redistribution; National income accounts and the ideas of teal and nominal GDP; GDP, taxation and growth; Money: Classical and Keynesian approaches; Information and public policy; Utility and welfare, consumers' surplus, cost-benefit analysis
Demonstration of the ability to perform algebraic manipulations, solve simple equations 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 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.
Derive and manipulate algebraic equations, solve simultaneous linear equations and quadratic equations.
Describe data using graphical and numerical methods, and use the tools of probability to represent situations of uncertainty.
Apply all techniques to business, economics and finance problems involving cash flows such as revenues, costs, profit and interest.
Teaching and Learning Strategy
One 2-hour lecture per week.
One 2-hour workshop per week.
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Computer Literacy - Proficiency in using a varied range of computer software
- 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.
- Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
- Management - Able to utilise, coordinate and control resources (human, physical and/or financial)
Courses including this module
Compulsory 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)
- N5R3: BA Marketing with Italian year 1 (BA/MKITAL)
- N5R1: BA Marketing with French year 1 (BA/MKTFR)
- N5R2: BA Marketing with German year 1 (BA/MKTGER)
- N5R4: BA Marketing with Spanish year 1 (BA/MKTSP#)