Maths for Business & Finance
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.
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.
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 (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 (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.
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.
Apply all techniques to business, economics and finance problems involving cash flows such as revenues, costs, profit and interest.
Derive and manipulate algebraic equations, solve simultaneous linear equations and quadratic equations, differentiate and solve optimisation problems.
|Term 1 - Exam||40|
|Term 2 - Exam||40|
|Term 1 - Interim test||10|
|Term 2 - Interim test||10|
Teaching and Learning Strategy
1 hour a week over 2 terms
4 hours a week over 2 terms
Students will be expected to spend up to 100 hours over the two semesters in independent study.
- 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.
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
Compulsory in courses:
- N406: BSc Accounting and Finance (Bangor International College) year 1 (BSC/BICAF)
- N324: BSc Banking and Finance (Bangor International College) year 1 (BSC/BICBF)
- N105: BSc Business Studies (Bangor International College) year 1 (BSC/BICBS)
- N106: BSc Business Stud & Finance (Bangor International College) year 1 (BSC/BICBSF)
- NN24: BSc Management with Account (Bangor International College) year 1 (BSC/BICMNA)
- N503: BSc Marketing (Bangor International College) year 1 (BSC/BICMRK)