Module Directory

This module covers the mathematical and statistical skills needed to proceed to any degree course within the Department of Economics and Essex Business School.

The syllabus covers a range of mathematical and statistical topics including basic arithmetic, algebra, sketching and finding key points on graphs, differentiation, measures of centrality and spread, visualizing data, normal distribution, and hypothesis testing. The lecture introduces the topics covered in the module, while the class worksheets and lab sessions develop the skills used to solve relevant problems from each topic. Class worksheets and mini-online assignments are being set and full solutions are provided as part of the feedback process.

The aims of this module are:

• To ensure that students from a wide range of educational backgrounds understand core mathematical skills needed within the study of Economics and Business.


• To develop the ability to acquire knowledge and skills from lectures, classwork exercises, and mathematical software and apply theory to a range of weekly tasks.


• To develop students' ability to use these skills in their subsequent degree courses.


• To equip students with the mathematical techniques needed to solve problems involving arithmetic, algebra and differentiation and to clearly structure their solutions and conclusions.


• To give students the ability to present and interpret data clearly and unambiguously, both by hand and with the use of Excel software.


• To give students an understanding and ability to calculate statistical measures and set up hypothesis tests.

By the end of this module, students will be expected to be able to:

1. Understand and use basic arithmetic and algebra.


2. Plot basic graphs and find key points on graphs.


3. Understand and use differentiation and partial differentiation to find the gradient of functions of one or two variables and in different Economics and Business applications.


4. Understand basic statistics and methods of visualising data, and calculate measures of centrality and spread.


5. Understand the normal distribution and be familiar with reading statistical tables.


6. Understanding of basic statistical inference and ability to construct simple hypothesis tests.

Skills for your professional life (Transferable Skills)

By the end of this module, you will have practised the following transferrable skills:

1) Numeracy skills - practising a variety of numerical questions stemming from different areas of Mathematics and Statistics.

2) IT skills – learning how to use, how to solve different numerical questions, and how to produce tables, graphs and charts in Microsoft Excel.

3) Time management – developing time management skills in order to complete assignments, worksheet questions and Excel exercises in the specified time frame to best prepare you to complete assessed work on time and to a high standard.

4) Applying theory to practice – Mathematics and statistics formulas and theories are contextualized through examples drawn from the fields of finance, economics, business and sustainability from around the world.

Syllabus

• Basic arithmetic and algebra.


• Systems of linear equations.


• Graphical representation of functions shifts in graphs and identification of key points on graphs.


• Calculus: differentiation of linear and polynomial functions, partial differentiation of functions of two variables, turning points, applications of differentiation in Economics and Business scenarios.


• Compound interest rates.


• Descriptive statistics: interpreting data, measures of location and dispersion.


• Key probability concepts.


• The normal distribution, reading statistical tables.


• Inference Statistics: basic hypothesis testing, the z-test.


• Using Excel to learn key formulas, find summary statistics, carry out statistical computations and create graphs.


• Practical application of algebra and statistics to economics and business-related problems.

This module will be delivered via:

• One 1-hour lecture per week.
• One 2-hour class per week.
• One 1-hour lab session per week.

There are two weeks of revision lectures and classes in the Summer Term. The first 10 weeks of the Autumn Term focus on Mathematics, with the subsequent 10 weeks of the Spring Term focusing on Statistics.

Teaching and learning on Essex Pathways modules offer students the ability to develop the foundation knowledge, skills, and competencies to study at the undergraduate level, through a curriculum that is purposely designed to provide an exceptional learning experience.

All lecture notes and exercises are placed on Moodle for easy student access prior to classes. Solutions to all exercises are provided at the end of each week. All textbooks are available through the Library. Listen Again is used as part of learning support through which students can review recordings of teaching sessions at a later date. The relevancy and applicability of topics to the real world are presented and discussed for each main topic. Students with specific learning difficulties are contacted regarding any accommodations required in consultation with DDLO.