ETS1200 - Quantitative methods for business - 2018

This unit aims to develop the mathematical knowledge, skills and attitudes of first year business students. Students will learn about the following topics; mathematical preliminaries, the straight line and applications, simultaneous equations, non-linear functions and applications, differentiation and applications, integration and applications, function of several variables (partial differentiation), basic linear algebra and financial mathematics (arithmetic and geometric progression, simple and compound interest, depreciation and net present value).

The learning goals associated with this unit are to:

1. perform basic mathematical calculations with algebraic expressions and fractions
2. understand the straight line function to model a wide range of concepts in economics and business such as the demand, supply and cost functions
3. use different methods to solve simultaneous equations analytically and graphically and apply these methods to the analysis of equilibrium in the goods, labour and money markets
4. use different types of non-linear functions in economics and business
5. understand differentiation, integration and derivatives of several functions and their optimisation and how it can be applied to business
6. solve first and second order partial derivatives
7. perform basic matrix arithmetic operations and determine the determinant and inverse of 2x2 and 3x3 matrices
8. calculate the arithmetic and geometric sequences and series and apply them in financial mathematics.

Within semester assessment: 40% + Examination: 60%

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information