2013/14 Undergraduate Module Catalogue

LUBS1240 Mathematics and Statistics for Business and Economics 1

20 Credits Class Size: 400

Module manager: Dr Gaston Yalonetzky
Email: G.Yalonetzky@leeds.ac.uk

Taught: Semesters 1 & 2 (Sep to Jun) View Timetable

Year running 2013/14

Pre-requisite qualifications

Mathematics at least GCSE grade A standard

Mutually Exclusive

LUBS1195 Introductory Modelling for Management (1)
LUBS1675 Introductory Statistics for Management (I)
LUBS2195 Introductory Modelling for Management (II)
MATH0111 Elementary Diff Calculus 1
MATH0131 Elementary Differential Calculus (Version 2)
MATH0212 Elementary Integral Calculus (Version 1)
MATH0360 Introduction to Applied Mathematics 1
MATH0365 Foundation Probability and Statistics
MATH0370 Introduction to Applied Mathematics 2
MATH0380 Foundation Applied Mathematics for Business
MATH1050 Calculus and Mathematical Analysis
MATH1150 Mathematics for Geophysical Sciences 2
MATH1351 Applications of Mathematics
MATH1400 Modelling with Differential Equations
MATH1410 Modelling Force and Motion
MATH1460 Mathematics for Geophysical Sciences 1
MATH1715 Introduction to Probability
MATH1725 Introduction to Statistics
MATH1815 Modelling in Statistics and Probability
MATH1825 Statistics Through Application
MATH1840 Introduction to Statistical Modelling
MATH1910 Modelling and Investigations
MATH1915 Basic Use of Computers for Mathematics
MATH1916 Basic Use of Computers for Mathematics
MATH1917 Basic Use of Computers for Mathematicians
MATH1960 Calculus

This module is approved as an Elective

Module summary

This module introduces the basic mathematical and statistical tools that are pre-requisites for understanding economics and business. PLEASE NOTE: This module is available as an elective ONLY if taken with LUBS1950 and IS NOT available to any students on single or joint honours programmes in Mathematics.

Objectives

On completion of this module, students will be able to:
- recognise and apply the main elementary techniques in algebra, calculus and statistics to general quantitative problems;
- use applications of algebra, calculus and statistics to solve basic problems in accounting, economics, and finance;
- understand the applied literature in economics, accounting and industrial studies which utilise the basic techniques in algebra, calculus and statistics; and
- undertake study at higher levels in quantitative modules in accounting and economics.

Syllabus

- Mathematical models of break-even and demand and supply analysis
- linear programming, non-linear functions; differentiation, and integration applied to marginal analysis
- profit maximisation, and dynamics, with partial differentiation and constrained optimisation
- descriptive statistics
- data analysis
- probability theory
- probability distributions
- sampling
- hypothesis testing

Teaching Methods

Delivery type Number Length hours Student hours
Lecture 44 1 44
Seminar 20 1 20
Private study hours 136
Total Contact hours 64
Total hours (100hr per 10 credits) 200

Private study

For each 20 credits of study taken, the expectation is that the normal study time (including attendance at lectures and tutorials, self-study and revision) is 200 hours.

Opportunities for Formative Feedback

Students will complete weekly workshop exercises, periodic tests and will also be given the opportunity to attempt mock examinations for each of the maths and statistical sections of the module.

Comments and marks received for these tests are not part of the formal module-exam, and are intended solely to assist students with their exam preparations.

Exams
Exam type Exam duration % of formal assessment
Standard exam (closed essays, MCQs etc) 1.0 Hrs 30 Mins 50
Standard exam (closed essays, MCQs etc) 1.0 Hrs 30 Mins 50
Total percentage (Assessment Exams) 100

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading List

The reading list is available from the Library website

Last updated: 3/27/2014

Errors, omissions, failed links etc should be notified to the Catalogue Team