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2010/1 Module Catalogue
 Module Code: MAN1051 Module Title: BUSINESS MATHEMATICS
Module Provider: School of Management Short Name: MAN1051
Level: HE1 Module Co-ordinator: TURNER J Mrs (SoM)
Number of credits: 20 Number of ECTS credits: 10
Module Availability

Semester 1 and Semester 2 

Assessment Pattern

Unit(s) of Assessment 

Weighting towards Module Mark (%)

2 Class tests of 50 minutes each 


Closed book examination 2 hours 


Qualifying Condition(s) 

Module Overview

This module is designed to give students a practical study of the basic principles of Business Mathematics.  To equip them with a number of mathematical and statistical concepts and techniques (reasoning and logic) that may be presented to employees working in all business functions. 


Co-requisites: Financial Accounting, Business Finance, Financial Markets and Financial Derivatives 

Module Aims

The key aim of this module is to enable students to have a mathematical background to enable them to cope with the problem solving aspects of various modules. 

Learning Outcomes

On successful completion of this module the students will be able to: 
·              Demonstrate the use of basic mathematics, including formulae and ratios; 
·              Identify reasonableness in the calculation of answers 
·              Demonstrate the use of probability where risk and uncertainty exist; 
·              Apply techniques for summarising and analysing data;
·              Calculate correlation coefficients for bivariate data and apply the technique of simple regression analysis; 
·              Demonstrate techniques used for forecasting 
·              Apply financial mathematical techniques; 
·              Apply spreadsheets to facilitate the presentation of data, analysis of univariate and bivariate data and use of formulae.
Assessment Criteria 
In order to achieve the threshold standard for the award of credits for this module the student must meet the following criteria related to the learning outcomes described above: 
·              Be able to communicate with, work with, and help team members. 
·              Show a critical understanding of the principles. 
·              Be able to apply the principles to evaluate case studies. 
·              Understand the purpose of business mathematics in accounting and management. 

Module Content

·              Basic algebraic techniques and solutions of equations, including simultaneous and quadratic equations 
·              The relationship between probability, proportion and percent 
·              Graphs and diagrams: scatter diagrams, histograms, bar charts and ogives 
·              Simple linear regression 
·              Forecasting and its limitations correlation 
·              Discounting to find NPV and IRR and interpretation of NPV and IRR 
·              Use of spreadsheet software in the day-to-day work of an Accountant: being budgeting, forecasting, reporting performance, variance analysis, what-if analysis and discounted cash flow calculations 

Methods of Teaching/Learning

The teaching and learning strategy is designed to allow a student to come to grips with what is essentially a subject mix of theory and practice. 
·              Lectures to illustrate the principles 
·              Regular tutorials on a weekly basis (tutors are available for answering questions from the students) 
·              Numerous practical exercises to test students understanding on an ongoing basis 
·              Team based coursework 
·              Making lecture handouts available to students 
·              Support of lecture material by directed reading in selected textbooks 
The assessment methods include two group and individual coursework assignment (30%) and one three-hour closed-book examination (70%). 
Assessment Strategy: 
The assessment strategy is designed to use the coursework to develop the students' understanding and to make the examination and class test a means of testing practical application. 

Selected Texts/Journals

Essential Reading 
Fundamentals of Business Mathematics.  ISBN978-0-7506-8517-7 (£35). 
Recommended Reading 
Articles and other material from the financial pages of newspapers and journals such as: 
The Economist 
Financial Times 
Background Reading 

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