This module is designed to provide the basics of mathematics, statistics and finance relating to business. This requires revisiting basic mathematics, basic statistics, basic use of spreadsheets (Microsoft Excel) and developing an understanding of some basic accounting concepts. The module will be delivered using a problem-centric approach emphasising the basic application of mathematical techniques and accounting concepts with a strong emphasis placed on the use of information technology to handle and process numerical data within a business context.
On successful completion of the module, students will be able to:
Each week students will receive 4 hours of scheduled learning and teaching, typically in two blocks of 2 hours. The sessions will be interactive and include a mix of teacher-led learning, problem-solving and student-led learning. The underlying philosophy of this module is that numeracy finance and information technology are not mutually exclusive topics in the business world, but are, in fact, mutually dependent subjects that support efficient and effective business problem-solving and the day-to-day running of a business. Therefore, the sessions will cover all topics using a problem-centric approach where associated employability skills will be highlighted. Access to and use of appropriate software will form an integral part of the teaching and learning experience for students throughout the module.
| Definitive UNISTATS Category | Indicative Description | Hours |
|---|---|---|
| Scheduled learning and teaching | 2 two- 2 hour interactive teaching sessions with an emphasis on problem solving | 128 |
| Guided independent study | Independent formative problem solving activities | 172 |
| Total (number of credits x 10) | 300 | |
Every session will provide ample opportunities for practice and formative assessment. The students will work on business-related problems in groups, and will receive feedback both from their peers and from the academic delivering the session. The teaching on the module is designed to engage students in a wide range of problem solving formative activities that can be completed both individually and in groups. The aim of the formative activities is to replicate the styles of the summative assessments and provide detailed formative feedback to students prior to summative assessment. In the case of the four in-class tests there will be at least one practice test prior to the summative assessment to allow students to gain skills in tackling this type of assessment successfully. The other, case study and data analysis based formative assessments will allow both feedback from the lecturer and also opportunities for peer assessment.
Summative assessment will be through in-class tests and a written coursework assessment.
This is a series of short-answer, in-class assessments, scheduled throughout the year to provide students with opportunities to get rapid feedback and opportunities to feed this forward to subsequent learning. An early assessment in the first teaching block will support students' immediate engagement with the module.
| Learning Outcome | Assessment Strategy |
|---|---|
| 1) Correctly find answers to basic mathematical and statistical problems | In-class tests. |
| 2) Graphically present information using IT eg. Microsoft Excel | In-class tests and coursework assessment. |
| 3) Correctly describe the difference between cash and profit in finance | In-class tests and coursework assessment. |
| 4) Describe the ingredients and the roles played by the cash flow statement, the statement of comprehensive income (formerly known as profit and loss account) and the statement of financial position (formerly known as the balance sheet) | In-class tests and coursework assessment. |
| 5) Use Microsoft Excel to prepare a basic cash flow forecast | Coursework assessment. |
| Description of Assessment | Definitive UNISTATS Categories | Percentage |
|---|---|---|
| Three In-class tests | Written exam | 50% |
| Individual case study | Coursework | 100% |
| Total (to equal 100%) | 100% | |
It IS NOT a requirement that any element of assessment is passed separately in order to achieve an overall pass for the module.
Lees B, Quantitative Methods. Pearson
Croft, A., and Davison, R. Foundation Maths. Prentice Hall.