Module

Basic Quantitative Methods

Module description

Summary:

This module aims to bring students without A level Mathematics - or equivalent - up to a sufficient level to enable you to become familiar with those mathematical tools and methods which are used frequently in the economics programmes and modules. In particular, this module will show you how they are applied and you will be able to practice this in lectures and tutorials. This is a compulsory module for Business Economics and Economics and Politics students without A level or equivalent. Please check with the module convener if you are unsure whether you need to take this module. This module is only to be taken by first year students.

Additional Information:

Internationalisation

Mathematics is a global language, so the technical skills students acquire in this module can be used internationally.

Employability

By solving statistical mathematical problems and exercises, students are equipped with practical problem-solving skills, theoretical skills, and an understanding of mathematical relationships. All of these are highly valuable to employers.

Sustainability

All of the resources for this module are available on the ELE (Exeter Learning Environment).

Full module specification

Module title:Basic Quantitative Methods
Module code:BEE1035
Module level:1
Academic year:2021/2
Module lecturers:
  • Dr Giancarlo Ianulardo - Convenor
Module credit:15
ECTS value:

7.5

Pre-requisites:

None.

Co-requisites:

None.

Non-Req: Cannot be taken with BEE1024 in the same academic year

Not available to 2nd year AF students, Maths students or Direct Entry Business Economics students.

Duration of module: Duration (weeks) - term 1:

11

Module aims

Economic problems are often expressed using mathematical models which are to be formulated, analysed and then confronted with real-world data. In particular we address economics problems with optimisation techniques which require a basic knowledge of calculus. This module aims to bring non-Mathematics A- level students up to a sufficient level to then be able to continue on to BEE 1024. The module is therefore the first step in enabling you to become familiar with those mathematical tools and methods which are used frequently in most economic modules and to show they are applied. This module is therefore intended for first year students only.

ILO: Module-specific skills

  • 1. demonstrate developed or improved (revisited) skills in basic arithmetic;
  • 2. carry out algebraic manipulations and demonstrate the ability to solve simple optimisation problems.

ILO: Discipline-specific skills

  • 3. demonstrate developed or improved skills including differentiating functions in one or several variables
  • 4. process algebraic manipulations and solve simple optimisation problems specifically with application to economics.

ILO: Personal and key skills

  • 5. demonstrate significantly improved numeracy and general quantitative skills;
  • 6. demonstrate the ability for logical and structured problem analysis

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
321180

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled Learning & Teaching activities22Lectures
Scheduled Learning and Teaching Activity10Tutorials
Guided Independent Study118Reading, preparation for classes and assessments

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
ExercisesWeekly1-6In-class solutions and posted answers

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
01000

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Mid-Term Exam2040 minutes1-6Exam results with solutions and comments
Final Exam8090 minutes1-6Exam results with solutions and comments

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Mid-term exam (20%) Examination (40 minutes, 20%)1-6Referral/Deferral Period
Final Examination (80%)Examination (90 minutes, 80%)1-6Referral/Deferral Period

Re-assessment notes

Deferrals will take place as soon as possible within the same term;

Referrals** and any further deferrals will take place in the August/September Reassessment Period.

Syllabus plan

Review of basic arithmetic and algebra:

This includes fractions, order of operations, powers, factorisation, solving equations/inequalities, simultaneous equations.

  • Geometric properties of functions, sign diagrams.  (Weeks 1-4)
  • Calculus for functions in one variable, differentiation and applications to Economics (Weeks 5-8)
  • Integration: Definite and Indefinite (Weeks 9-10)
  • Optimisation with economic applications (Week 11)
  • Revision  (Week 12)

Indicative learning resources - Basic reading

Sydsaeter K. and P. J. Hammond, (2016), Essential Mathematics for Economic Analysis 5th ed., Prentice Hall.

Geoff Renshaw, (2016), Maths for Economics 4th ed., Oxford University Press.

Jacques I., (2018), Mathematics for Economics and Business, 9th ed., Pearson.

Module has an active ELE page?

Yes

Indicative learning resources - Web based and electronic resources

ELE – http://vle.exeter.ac.uk/course/view.php?id=165 

Origin date

13/08/2015

Last revision date

09/028/2021