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MATH06037 2016 Business Mathematics

General Details

Full Title
Business Mathematics
Transcript Title
Business Maths
Code
MATH06037
Attendance
N/A %
Subject Area
MATH - 0541 Mathematics
Department
MRKT - Marketing, Tourism and Leisure
Level
06 - Level 6
Credit
10 - 10 Credits
Duration
Semester
Fee
€
Start Term
2016 - Full Academic Year 2016-17
End Term
2022 - Full Academic Year 2022-23
Author(s)
Cillian OMurchu
Programme Membership
SG_BBUSO_C06 201600 Higher Certificate in Business in Business in Business SG_BBSOL_C06 202000 Higher Certificate in Business
Description

This subject aims to provide learners with the necessary skills to gather, organize, analyse and present data.  It aims also to enable students to understand and assess quantitative information presented to them.    

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Understand the concepts of basic maths

2.

Use discounting techniques in investment appraisal and calculate repayments neccessary to amortize a debt

3.

Organise and represent data visually

4.

Calculate measures to describe data

5.

Calculate simple probabilities and use the normal distribution

6.

Carry out index number calculations and understand how indicies are used in material presented to them.

7.

Carry out a sample survey and be aware of a number of different sampling strategies

8.

Carry out time series analysis and understand the results of such analysis when presented with it

Teaching and Learning Strategies

The student will engage with the content of the module through lectures and tutorials.

The student will develop and apply their learning through practical examples and exercise sheets.

Module Assessment Strategies

Written examination at the end of the semester and quizzes during the semester.

Repeat Assessments

Written examination

Indicative Syllabus

1. Basic Mathematics: Use of electronic caclculator, basic arithmetic operations, calculations involving percentages and ratios, roots and powers.

2. Financial Mathematics: SImple and compound interest, straight line and reducing balance methods of depreciation, investment evaluation using NPV and IRR, periodic payment necessary to repay a debt/mortgage over time, amortization schedule.

3. Presentation of Data: Primary and secondary data, tabulation of data, construction and visual representation of grouped frequency distributions,various charts & grpahs.

4. Measures of location and dispersion: Calculate the mean, median and mode, calculate the range, interquartile range and standard deviation, coefficient of variation & coefficient of skewness.

5. Index Numbers: Price and quantity indices, changing the base period of an index, deflation of money values using a price index.

6.Probability: Addition and multiplication laws of probability, conditional probability, problems involving the normal distribution.

7.Sampling: Random & non random sampling methods, procedure to be followed in conducting a sample survey.

8.Time Series: Factors which affect a time series, forecasting future values.

9. Data Aanalysis: Spreadsheets to generate charts & values obtained in the previous sections 

 

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
20 %
End of Semester / Year Formal Exam
80 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Continuous Assessment Coursework Assessment Assessment 20 % OnGoing 1,2,3,4,5,6,7,8
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Final Exam Assessment 80 % End of Term 1,2,3,4,5,6,7,8
             
             

Part Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Not Specified Lecture 2 Weekly 2.00
Tutorial Flat Classroom Practical exercise based on preceeding lecture in small groups 1 Weekly 1.00
Independent Learning UNKNOWN Self Study 4 Weekly 4.00
Total Part Time Average Weekly Learner Contact Time 3.00 Hours

Required & Recommended Book List

Recommended Reading
1998-04-15 Foundation Mathematics Wiley
ISBN 0471970921 ISBN-13 9780471970927

Mathematics is finding ever wider areas of application as we seek to understand more about the way in which the natural world and the man-made environment operate and interact. In addition to the traditional use of mathematical models as design tools and for the prediction of the behaviour of many phenomena, mathematics is increasingly being used to model situations in many other disciplines including finance, management, politics and geography. Foundation Mathematics begins with a concise summary of arithmetic, basic algebra and a discussion of quadratics and cubics, strongly emphasising geometric ideas. Then follow the principles of Euclidean and Cartesian geometry and the concept of proof. Next are trigonometry, further algebra, functions and their inverses. Finally, the concepts of differential and integral calculus are introduced. Each chapter starts with a list of learning objectives and ends with a summary of key points and results. A generous supply of worked examples incorporating motivating applications is designed to build knowledge and skill. The exercises provided range in difficulty to aid consolidation and facilitate revision. Answers to the exercises, some including helpful hints, are placed at the end of each chapter. Foundation Mathematics together with its sequel Mathematics in Engineering and Science take the reader forward, in both content and style, from a level close to UK GCSE mathematics and its international equivalents to first year university-level mathematics. The concise and focused approach will help the student build the necessary confidence to tackle the more advanced ideas of the authors related book Mathematics in Engineering and Science (Wiley, 1998). This no-nonsense textbook will enable students to gain a basic grounding in the foundations of mathematics and will enable them to approach further study with confidence.

Recommended Reading
2013-01-21 Quantitative Methods for Business Decisions Cengage Learning EMEA
ISBN 1408064987 ISBN-13 9781408064986

This established and popular text is regarded as one of the clearest and most comprehensive in its field. David Eadson has joined Jon Curwin and Roger Slater in the author team, and together they have sought to offer a more compact book with all the qualities of the previous six editions, whilst strengthening the links to online support materials. The new edition has been enhanced to reflect the latest learning plans and techniques, providing students with all the tools they need to pass the typical Quantitative Methods course. Each chapter focuses on a selection of statistical techniques, illustrated with examples from across business, marketing, economics, finance, and public administration, to appeal to students across the business spectrum. Whilst all core material is covered in the book itself, the online offering has been bolstered to include Parts 6-8 covering 'Modelling', 'Mathematical Topics' and 'Student Guides' respectively, in addition to a wide range of other resources including datasets and extra learning tools. Visual signposts throughout the text guide the student to the online platform to provide a seamless interaction between the two thus providing a multi-faceted learning experience. The wide-ranging coverage provided makes this the ideal text for the teaching of quantitative methods across all business disciplines at undergraduate, MBA, and post-experience levels. This textbook is autopackaged with CourseMate. CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook and the textbook-specific website. CourseMate includes an integrated eBook and interactive teaching and learning tools including quizzes, flashcards, videos, and more and an EngagementTracker, a first-of-its-kind tool that monitors student engagement in the course.

Recommended Reading
2004-04-01 Business Mathematics and Statistics Cengage Learning EMEA
ISBN 1844801284 ISBN-13 9781844801282

The sixth edition provides a thorough grounding in basic mathematical and statisical techniques for business students, and students on a professional course such as accounting. The result is a comprehensive, user-friendly, testing oriented guide to quantitative methods for business.

Recommended Reading
2006-03-24 Using Statistics Gill & Macmillan Ltd
ISBN 0717140229 ISBN-13 9780717140220

This book uses practical worked examples and problems with answers, in an Irish context. It provides an insight into your processes, allowing you to understand them and ultimately improve them. It can be used alone or in conjunction with any statistical package of choice. Web support is provided for lecturers with PowerPoint slides, web links, and data sets for each chapter, which support all statistical software. This book is suitable for undergraduate students of business, science and engineering, post-graduate students, researchers and professionals. Comments from students: "Very well presented. The author made it seem very simple. The examples use real life, are easy to understand and interesting". "The author understands the worries students have, and knows our limits". "Examples are relevant and easy to relate to".

Recommended Reading
2012-12-31 Statistics for Business and Economics (12th Edition) Pearson
ISBN 032182623X ISBN-13 9780321826237

Statistics for Business and Economics, Twelfth Edition, meets today's business students with a balance of clarity and rigor, and applications incorporated from a diverse range of industries. This classic text covers a wide variety of data collection and analysis techniques with these goals in mind: developing statistical thinking, learning to assess the credibility and value of inferences made from data, and making informed business decisions.

 

The Twelfth Edition has been updated with real, current data in many of the exercises, examples, and applications. Exercises draw on actual business situations and recent economic events so that students can test their knowledge throughout the course. Statistics in Action case studies open each chapter with a recent, controversial, or high-profile business issue, motivating students to critically evaluate the findings and think through the statistical issues involved. A continued emphasis on ethics highlights the importance of ethical behavior in collecting, interpreting, and reporting on data.

Recommended Reading
2013 Basic Statistics for Business and Economics
ISBN 0073521477 ISBN-13 9780073521473

Used book

Recommended Reading
2014-02-20 Business Mathematics (13th Edition) Pearson
ISBN 0321955056 ISBN-13 9780321955050

For courses in business math or the mathematics of business

 

Business Mathematics by Clendenen/Salzman teaches students the mathematical skills they need to be successful in business, emphasizing mastery of business concepts and scenarios that require a mathematical solution. With a strong focus on current issues, real companies, and pragmatic business scenarios, the authors cover the full spectrum of basic business math, placing every concept in context with relevant examples. With time-proven pedagogy, relevant business applications and case studies, and a strong MyMathLab course, this program teaches students mathematical skills and concepts within the context of business applications.

 

This text provides a better teaching and learning experience, for you and your students. Heres how:

  • Improve Results:  MyMathLab delivers proven results in helping students succeed and provides engaging experiences that personalize learning.
  • Grounded in the business world and actual companies:This text presents insights that reflect business realities that students will actually encounter in the business world.
  • Extensive usage of data and graphics: Helps students visualize, analyze, and discuss the information they are working with.
  • Excellent exercises: Gives students a variety of practice to help them understand and master the material.


Note: You are purchasing a standalone product; MyMathLab does not come packaged with this content. MyMathLab is not a self-paced technology and should only be purchased when required by an instructor. If you would like to purchase both the physical text and MyMathLab, search for:

  

0321937031 / 9780321937032 Business Mathematics plus MyMathLab with Pearson eText -- Access Card Package

Package consists of:   

0321431308 / 9780321431301 MyMathLab -- Glue-in Access Card

0321654064 / 9780321654069 MyMathLab Inside Star Sticker

0321955056 / 9780321955050 Business Mathematics

 

Module Resources

Non ISBN Literary Resources

Mustoe & Barry,2008,Foundation Mathematics Jon Curwin,2013

Quantitative Methods for Business Decisions Cengage Learning EMEA

Francis, A., 2004, Business Mathematics and Statistics , 6 th ed., Thomson Learning

Reilly, James, 2006, Using Statistics, Gill & MacMillan

James T. McClave, 2012 Statistics for Business and Economics (12th Edition) Pearson

Marchal & Wathen Lind, 2013 Basic Statistics for Business and Economics

Gary Clendenen, 2014 Business Mathematics (13th Edition) Pearson

Other Resources

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