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MATH20320

Academic Year 2024/2025

Quantitative Methods in Business (MATH20320)

Subject:
Mathematics
College:
Science
School:
Mathematics & Statistics
Level:
2 (Intermediate)
Credits:
5
Module Coordinator:
Dr Richard Smith
Trimester:
Spring
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

This module is designed for anyone interested in pursuing more quantitative specializations such as Economics, Finance and Accounting. The aim of this module is to introduce students to a range of mathematical techniques used in these areas of specialization, together with many applications. Topics include: (1) integration, with applications such as consumer and producer surplus, and continuous revenue streams; (2) matrix algebra and linear models including Markov chains; (3) first-order difference equations and their use in certain 'lagged' micro and macroeconomic models; and (4) an introduction to differential equations (time-allowing). The module builds on and uses techniques from MATH10030, Maths for Business, to give the student a solid foundation in the quantitative methods used in business.

About this Module

Learning Outcomes:

On completion of this module, the student will be able to: (1) apply the techniques of integration by substitution and integration by parts to integrate functions involving polynomials and the exponential and natural logarithm functions; (2) perform matrix operations and solve 2- and 3-state Markov chain problems; (3) solve first-order linear difference equations; (4) solve first-order linear differential equations (time allowing); and (5) apply the above techniques, along with those from MATH10030, to solve problems in business, economics and finance.

Indicative Module Content:


Student Effort Hours:
Student Effort Type Hours
Specified Learning Activities

30
Autonomous Student Learning

23
Lectures

36
Tutorial

11
Total

100

Approaches to Teaching and Learning:
Lectures, tutorials, enquiry and problem-based learning.

Requirements, Exclusions and Recommendations
Learning Recommendations:

MATH10030 - Maths for Business is a pre-requisite to take this module.

Students taking this module should be able to:
- graph polynomial functions, the exponential and natural logarithm functions and analyse their graphs.
- use and manipulate polynomials.
- Explain the concept of the derivative and differentiate products, quotients and compositions of the functions listed above.
The knowledge of complex numbers is also recommended.


Module Requisites and Incompatibles
Incompatibles:
ACM10100 - Differential & Diff Equations


 

Assessment Strategy
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Quizzes/Short Exercises: Two 50-minute written closed-book in-class tests (worth 15% each). Week 5, Week 10 Standard conversion grade scale 40% No
30
 No
Exam (In-person): Written closed-book examination. End of trimester
Duration:
2 hr(s)
 Standard conversion grade scale 40% No
70
 No

Carry forward of passed components
No
 

Resit In Terminal Exam
Autumn Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Not yet recorded.

Name Role
Mr Arani Paul Tutor
Mr Jake Williams Tutor

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
Spring Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Thurs 13:00 - 13:50
Spring Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Tues 09:00 - 10:50
Spring Tutorial Offering 1 Week(s) - 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Wed 13:00 - 13:50
Spring Tutorial Offering 2 Week(s) - 21, 22, 23, 25, 26, 29, 30, 33 Wed 12:00 - 12:50
Spring Tutorial Offering 2 Week(s) - 24 Wed 12:00 - 12:50
Spring Tutorial Offering 2 Week(s) - 31, 32 Wed 12:00 - 12:50
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