Introductory description

This module develops the mathematical and statistical skills necessary for analysing practical problems in finance and economics. Students will build confidence in applying mathematical processes to real-world contexts, with particular attention to quantitative analysis in business and financial settings. The module provides a foundation for further mathematical study and equips students with problem-solving skills directly applicable to finance and economics. By the end of the module, students will be able to apply mathematical and statistical techniques to analyse problems, interpret results, and communicate solutions clearly.

Module web page

Module aims

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.

Mathematics: Number systems, Solution of linear and quadratic equations and inequalities, coordinate geometry, functions, graphs of linear and quadratic functions, properties and graphs of exponential and logarithmic functions, vectors, matrices, calculus (including differentiation & integration), numerical methods and sequences and series

Statistics and Probability: Descriptive Statistics, Representing data, Correlation & Regression
Probability, Discrete random Variable, Discrete Distributions, The Normal Distribution, Confidence Intervals, Hypothesis Testing, Chi-Squared goodness of fit Testing

Learning outcomes

By the end of the module, students should be able to:

• Apply mathematical and statistical knowledge to solve a variety of mathematical and real-world problems often set in a financial contexts, selecting appropriate algebraic tools and statistical models where necessary, implementing them precisely and rigorously to arrive at correct numerical or algebraic results and utilising technology effectively to simplify calculations.
• Undertake basic analysis of data by calculating summary statistics and representing data graphically, understanding the suitability and limitations of different statistical measures and graph types, interpreting the meaning of calculated results within a given context and using them to inform decision-making.
• Use fundamental principles of probability to quantify uncertainty and solve problems involving a selection of discrete and continuous probability distributions.
• Present written mathematical and statistical work clearly and logically.

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

construct and present mathematical and logical arguments; develop numeracy skills; understand, interpret and
extract information from data presented in various forms; convert real-world problems into mathematical problems; solve mathematical and statistical problems using appropriate techniques including using suitable technology when
appropriate; clearly present solutions to mathematical and statistical using appropriate symbols and terms.

Transferable skills

problem solving skills; analytical and logical thought processes; appropriate use of suitable technology