EC115-Introductory Quantitative Methods in Economics and Business 1

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Terms in which taught: Autumn term module
Non-modular pre-requisites: GCSE Maths grade B
Co-requisites: EC116 Introductory Mathematics for Economics 1
Modules excluded: IC104 Introductory Quantitative Techniques for Business and Finance
Module version for: 2017/8

Module Convenor: Dr Stefania Lovo


Summary module description:
This module provides an introduction to quantitative techniques useful in economics.

The study of economics requires the use of quantitative methods. This module aims to introduce students to some standard techniques, such as descriptive statistics and regression analysis. An objective is to provide sufficient background to allow students to understand more advanced techniques used in Part 2 and Part 3 modules.

Assessable learning outcomes:
To undertake quantitative problem solving across a range of subjects taught in the Department of Economics.

Additional outcomes:
Familiarity with Microsoft Excel.

Outline content:
A range of basic techniques including: presenting and summarising data; descriptive statistics; normal distribution; sample distribution of the mean; interest and discount rates; index numbers; measures of inequality; and, probability.

Global context:
Together with the ‘EC116 Introductory Mathematics for Economics 1’ this module develops the quantitative background for the joint honours study of economics. Taken together with the ‘EC120 Introductory Quantitative Methods in Economics and Business 2 and Study Skills’ and ‘EC121 Introductory Mathematics for Economics 2’ it develops the quantitative background for single honours study of economics.

Brief description of teaching and learning methods:
The module offers an introduction to a range of quantitative techniques applicable in economics and finance. Lectures cover the main module material, supported by weekly classes.

Contact hours:
  Autumn Spring Summer
Lectures 20 1
Tutorials 9
Practicals classes and workshops 5
Guided independent study 55 10
Total hours by term 89.00 11.00
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Written exam 60
Written assignment including essay 20
Class test administered by School 20

Other information on summative assessment:
There will be a two pieces of assessed coursework, worth a total of 40% in the final assessment mark.

Formative assessment methods:
Weekly problem sets which will be discussed in class.

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at:
    You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

    Length of examination:
    One 2-hour unseen written paper.
    Part 1 examinations are held in the Summer term.

    Requirements for a pass:
    A minimum weighted (coursework and examination) mark of 40%.

    Reassessment arrangements:
    Re-examination for Part 1 modules takes place in August/September of the same year.
    Reassessment is by examination only (coursework will not be included in the re-assessment).

    Additional Costs (specified where applicable):
    1) Required text books:
    2) Specialist equipment or materials:
    3) Specialist clothing, footwear or headgear:
    4) Printing and binding: There may be optional costs associated with photocopying or printing sources listed on the reading list relating to this module. Please note that the Library charges approximately 5p per photocopy.
    5) Computers and devices with a particular specification:
    6) Travel, accommodation and subsistence:

    Last updated: 31 March 2017

    Things to do now