EC0MEB-Mathematics for Finance, Economics and Business

Module Provider: School of Politics, Economics and International Relations
Number of credits: 40 [20 ECTS credits]
Level:F
Terms in which taught: Autumn / Spring / Summer module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded: MA0MAA Mathematics
Current from: 2020/1

Module Convenor: Dr Rehana Bari

Email: r.bari@reading.ac.uk

Type of module:

Summary module description:
To provide a solid grounding in the key elements of pure mathematics and statistics to a good A-level standard for students approaching a degree in economics, finance, management or business.

Aims:
To provide a solid grounding in the key elements of pure mathematics and statistics to a good A-level standard for students approaching a degree in economics, finance, management or business

Assessable learning outcomes:
By the end of the module it is expected that the student will be able to:

  • handle with confidence and accuracy the techniques of algebra required for the solution of equations, differentiation and integration
  • interpret a range of problems, selecting the relevant procedure needed for solution
  • find a graphical solution to economic and business questions
  • analyse statistical and financial data, recognise Normal and Binomial distributions and be able to ca lculate probabilities associated with them
  • use statistical applications in Quality and Productivity Management

Additional outcomes:
Students are expected to learn to work independently under pressure of time and may be required to present their solutions orally in a small group context. They should grow in confidence in assessing the essential elements of a solution and in the written explanation of problems.

Outline content:
The syllabus for Mathematics for Finance, Economics and Business normally covers a total of 15 or 16 topics each of which takes between one and three weeks to complete. The module begins with the basic concepts of algebra and number theory. The study of functions and mappings, including composite and inverse functions follows. Graphical analysis of linear functions is applied to supply and demand problems. This is followed by the calculus needed for maximisation and minimisation applications of the economic and business model. Probability theory completes the first term.
In the second term, graphical analysis of economic and business functions continues. Further differential calculus methods, with application to curve sketching, and integration are introduced. Statistical analysis of data, mean and standard deviation, regression and correlation and time series is followed by a study of the Binomial distribution. Arithmetic and geometric progressions lead to savings and compound i nterest applications.
The module is completed in the Summer Term by a study of the Normal Distribution and the principles of hypothesis testing

Brief description of teaching and learning methods:
Lectures and small group tutorials.
Weekly surgery hours for individual assistance as required.

Contact hours:
  Autumn Spring Summer
Lectures 40 44 20
Tutorials 10 11 5
Guided independent study: 100 110 60
       
Total hours by term 150 165 85
       
Total hours for module 400

Summative Assessment Methods:
Method Percentage
Written exam 70
Set exercise 10
Class test administered by School 20

Summative assessment- Examinations:
One 3-hour and one 2-hour written examination papers.

Summative assessment- Coursework and in-class tests:
Autumn and Spring term assessed exercises and tests.
Coursework has a total weight of 30% in the overall mark, comprised as follows:
10% assessed exercises; 10% Autumn test; 10% Spring test.

Formative assessment methods:

Penalties for late submission:

The Module Convenor will apply the following penalties for work submitted late:

  • where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day[1] (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: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
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.

Assessment requirements for a pass:
A minimum mark of 40%.

Reassessment arrangements:
Re-assessment is by written examination only in August/September of the same year. Note that original coursework marks will be carried forward in the overall calculation of the final resit mark if it is to the advantage of the student.

Additional Costs (specified where applicable):

1) Required text books:  A Concise Course in A Level Statistics with worked examples, Crawshaw and Chambers (revised edition 2013), £31.99

2) Specialist equipment or materials:

3) Specialist clothing, footwear or headgear:

4) Printing and binding:

5) Computers and devices with a particular specification:

6) Travel, accommodation and subsistence: 


Last updated: 4 May 2020

THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.

Things to do now