ECO-10027 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

Programme/Approved Electives for 2020/21

Available as a Free Standing Elective

Co-requisites

None

Prerequisites

None

Barred Combinations

None

Description for 2020/21

This module is designed to familiarise students following Economics, Finance and related programmes of study, with the essential quantitative methods to understand Economic, Finance and related discipline theories and applications. These comprise the rules of calculus and its use in optimisation problems together with the ability to employ inferential statistics, knowledge of probability and probability distributions, and the ability to test hypotheses using information drawn from samples and populations.

Building on Quantitative Methods I, this module familiarises students with the essential calculus and statistics methods that are necessary for the study of Economics, Finance and related disciplines. The module looks at methods useful for handling linear and other simple forms of equations, for the analysis of optimising behaviour, descriptive statistics, and the methodology for sampling.

Intended Learning Outcomes

recognize the distinction between sample level and population level information in the context of economics and finance: 1
recognize and apply the economic meaning and relevance of the "margin" and utilize a variety of mathematical tools to apply the concept to a range of economic and finance problems: 1,2
use calculus to find optimal (constrained and unconstrained) values in a range of economic and business applications: 1,2
apply sample level information to draw inferences about population behaviour in the context of a range of business-related problems: 1

Study hours

Lectures - 18 hours
Seminar/Tutorial classes - 6 hours
Preparation for classes - 36 hours
Independent study - 88 hours
Exam - 2 hours

School Rules

Module pre-requisites: either Quantitative Methods I module or equivalent.

Description of Module Assessment