Module description
This Mathematics for Business and Economics module will introduce you to the major mathematics topics that you’ll need to understand if you want to study business and economics at university level.
During your Mathematics for Business and Economics module, you’ll learn how to apply key concepts and discuss them in familiar contexts.
This module will teach you:
- how to decide which mathematical technique is appropriate for any given problem
- how to use mathematical techniques to solve simple problems
- how to model mathematical concepts in the economic sciences
The types of topics you’ll cover in this Mathematics for Business and Economics module include:
- Basic algebra techniques
- Percentages and index numbers
- Linear equations, simultaneous linear equations and quadratic equations and their graphs
- Maxima, minima, and points of inflexion for graph sketching
- Exponential functions and their graphs, logarithms and their graphs, and the solution of exponential equations
- Rules of indices.
- Differentiation of compound functions: product, quotient, and chain rules; exponential and logarithm functions
- Matrices and their algebra; determinants, inverses, solution of systems of equations, Cramer's rule
- Probability: definitions, combined events, conditional probability, Bayes theorem and probability distributions.
- Data presentation and types of data
- Descriptive statistics: measures of location, measures of dispersion
This Mathematics for Business and Economics module will give you a solid foundation for studying a range of subjects at undergraduate level, including Mathematics BSc, Economics BSc and Accounting & Finance BSc.
Assessment details
You’ll be assessed for this Mathematics for Business and Economics module through a combination of tests (30%), a group presentation (20%) and an exam (50%).
Educational aims & objectives
This Mathematics for Business and Economics will:
- Give you an in-depth introduction to major mathematics topics required for undergraduate study in the areas of business and economics
- Teach you how to apply and discuss key mathematical concepts
- Equip you with the capacity to understand more complex applications.
Learning outcomes
By the end of this Mathematics for Business and Economics module you will be able to:
- Understand, remember and use the underpinning mathematical and statistical skills and knowledge required to access first year degree level courses related to economics and business studies.
- Discuss, read and write about mathematical and statistical ideas, using appropriate technical vocabulary.
- Use mathematical and statistical skills to analyse and critique approaches to real world problems, particularly in relation to economics and business contexts.
- Work successfully with others in completing tasks and explaining reasoning.
- Investigate threshold topics independently, using identified sources.
Suggested reading list
The following two textbooks are required for the Mathematics for Business and Economics module. It is not necessary to purchase all books, but you should try and ensure you have access to them.
For the start of the module:
- I. Jacques, Mathematics for Economics and Business, 9th Edition, Pearson (2018); ISBN-13: 978-1292191669(opens in a new tab)
From week nine of the module:
- J. Curwin, R. Slater and D. Eadson, Quantitative Methods for Business Decisions, 7th Edition, Cengage Learning EMEA (2013); ISBN-13: 978-1408060193