FP093-30 Further Foundation Mathematics and Statistics for Economics
Introductory description
This module extends mathematical knowledge to more advanced concepts and techniques, focusing on their application to finance and economics. Students will build skills in constructing, applying, and critically reviewing advanced mathematical models, gaining the confidence to approach complex quantitative problems. The module is designed to prepare students for undergraduate courses requiring strong mathematical ability, particularly in economics and finance. By the end of the module, students will be able to apply advanced mathematical methods, evaluate the outcomes of models, and solve sophisticated problems in finance and economics contexts.
Module aims
This module focuses on developing your skills in building, applying and reviewing advanced mathematical models and techniques to analyse practical problems. You will develop your understanding of advanced mathematical concepts and processes so that you become confident in their use and application. By the end of the module you will be able to use advanced mathematics principles in the analysis and solution of real world problems taken from finance and economics contexts.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
Topics include elements of: Trigonometry, Functions, Coordinate geometry, Complex Numbers, Advanced calculus, Numerical methods, Linear Algebra, Matrices and Determinants, Partial Differentiation, First and second Order Differential equations, Difference Equations, and Statistical distributions.
Learning outcomes
By the end of the module, students should be able to:
- Analyse problems and use mathematical and statistical knowledge to plan strategies for solving them.
- Select and apply a range of mathematical tools and techniques that are appropriate to solve a given problem.
- Create and use appropriate mathematical models to solve and understand practical real-life problems, in appropriate contexts.
- Construct and present arguments through appropriate use of logical deduction and precise statements involving correct use of symbols and appropriate mathematical language.
- Evaluate the outcomes and predictions of a mathematical model by considering any assumptions made, and its validity and limitations.
Indicative reading list
Reading lists can be found in Talis
Interdisciplinary
Students will have opportunities to draw on knowledge and skills acquired within the different modules on their pathway.
International
All students are international, representing a wide range of cultural, linguistic, and educational backgrounds. They bring diverse experiences and perspectives, enriching discussion and supporting the development of intercultural awareness. Examples for analysis and evaluation are drawn from a variety of countries, ensuring that teaching and learning are embedded in an international context.
Subject specific skills
Students will have opportunities to:
construct and present mathematical and logical arguments,
convert real-world problems taken from financial and economical contexts into mathematical problems,
solve mathematical problems using appropriate advanced techniques including using suitable technology when
appropriate,
clearly present solutions to mathematical and statistical problems using appropriate symbols and terms.
Transferable skills
Transferable skills will include: problem solving skills, analytical and logical thought processes and appropriate use of suitable technology
Study time
| Type | Required |
|---|---|
| Seminars | 25 sessions of 4 hours (33%) |
| Private study | 140 hours (47%) |
| Assessment | 60 hours (20%) |
| Total | 300 hours |
Private study description
Extra-class reading of books and articles in preparation for lectures and seminars. Home assignments and worksheets
Costs
No further costs have been identified for this module.
You must pass all assessment components to pass the module.
Assessment group C
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
Assessment component |
|||
| Group Presentations | 20% | 12 hours | No |
|
Students (in groups of 2) will be given a task in applied mathematics to solve, prepare slides and script and present their solution. The emphasis will be on presentation skills including mathematical content, logical argument and structure. It is expected that each student will present for a minimum of 6 minutes. |
|||
Reassessment component |
|||
| Presentation | No | ||
|
For the reassessment, it is assumed that the problem-solving and slide + script preparation have been completed by the originally assigned group. The 'presentation' component, however, will be evaluated individually. The emphasis will be on presentation skills including mathematical content, logical argument and structure. It is expected that the student will present for a minimum of 6 minutes. |
|||
Assessment component |
|||
| Class Test | 30% | 18 hours | No |
|
An in-person class test testing material from Term 1 of the course |
|||
Reassessment component is the same |
|||
Assessment component |
|||
| Final Examination | 50% | 30 hours | No |
|
Formula booklet will be provided. Only university approved calculators are permitted in
|
|||
Reassessment component is the same |
|||
Feedback on assessment
Written feedback via tabula
There is currently no information about the courses for which this module is core or optional.