Module ASB-1111:
Intro. to Quantitative Methods

Module Facts

Run by Bangor Business School

10 Credits or 5 ECTS Credits

Semester 1

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.

Course content

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

Assessment Criteria

threshold

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.

good

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.

excellent

In addition to the above, the ability to succinctly interpret the results and to demonstrate a clear understanding of the underlying assumptions.

Learning outcomes

  1. Derive and manipulate algebraic equations, solve simultaneous linear equations and quadratic equations.

  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.

Assessment Methods

Type Name Description Weight
Assignment 20
EXAM Final Examination 60
COURSEWORK Online test 20

Teaching and Learning Strategy

Hours
Private study 62
Lecture

One 2-hour lecture per week.

20
Workshop

One 2-hour workshop per week.

18

Transferable skills

  • 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: