Run by Bangor Business School - (Changsha)
20.000 Credits or 10.000 ECTS Credits
Organiser: Ms Wendy Ashurst
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.
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.
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.
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.
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.
Apply all techniques to business, economics and finance problems involving cash flows such as revenues, costs, profit and interest.
Understand the application of financial mathematics techniques to value cash flows that take place over time.
Describe data using graphical and numerical methods, and use the tools of probability to represent situations of uncertainty.
Derive and manipulate algebraic equations, solve simultaneous linear equations and quadratic equations, differentiate and solve optimisation problems.
Teaching and Learning Strategy
150-hours per year of individual study to practice key lecture concepts, and preparation for tutorials and assessments.
One 2-hour lecture per week.
2 hour non-compulsory drop-in workshop per week
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy