Basic Quantitative Methods
This module aims to bring students without A level Mathematics - or equivalent - up to a sufficient level to enable you to become familiar with those mathematical tools and methods which are used frequently in the economics programmes and modules. In particular this module will show you how they are applied and you will be able to practice this in lectures and tutorials. This is a recommended module for Economics and Economics and Finance students without A level or equivalent. Please check with the module convener if you are unsure whether you need to take this module. This module is only to be taken by first year students.
Mathematics is a global language, so the technical skills students acquire in this module can be used internationally.
By solving statistical mathematical problems and exercises, students are equipped with practical problem-solving skills, theoretical skills, and an understanding of mathematical relationships. All of these are highly valuable to employers.
All of the resources for this module are available on the ELE (Exeter Learning Environment).
Full module specification
|Module title:||Basic Quantitative Methods|
|Duration of module:||
Duration (weeks) - term 1: |
Economic problems are often expressed using mathematical models which are to be formulated, analysed and then confronted with real-world data. In particular we address economics problems with optimisation techniques which require a basic knowledge of calculus. This module aims to bring non-Mathematics A- level students up to a sufficient level to then be able to continue on to BEE1024. The module is therefore the first step in enabling you to become familiar with those mathematical tools and methods which are used frequently in most economic modules and to show they are applied. This module is therefore intended for first year students only.
ILO: Module-specific skills
- 1. demonstrate developed or improved (revisited) skills in basic arithmetic
- 2. carry out algebraic manipulations and demonstrate the ability to solve simple optimisation problems.
ILO: Discipline-specific skills
- 3. demonstrate developed or improved skills including differentiating functions in one or several variables
- 4. process algebraic manipulations and solve simple optimisation problems specifically with application to economics.
ILO: Personal and key skills
- 5. demonstrate significantly improved numeracy and general quantitative skills;
- 6. demonstrate the ability for logical and structured problem analysis
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled Learning & Teaching activities (timetable contact hours)||32||Lectures (22 x 1 hour) and tutorials (10 x 1 hour)|
|Guided independent study||45||Completing and submitting weekly homework exercises|
|Guided independent study||73||Reading and research including reviewing lectures (using Echo 360) and completion of mock exam paper|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Weekly exercises||To complete in tutorials and also for homework||1-6||Written and verbal|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Examination||100||2 hours||1-6||Exam results|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Examination||Exam (100%) 2 hours||1-6||Augus re-assessment period|
- Review of basic arithmetic and algebra - this includes fractions, order of operations, powers, factorisation, solving equations/inequalities, simultaneous equations.
- Geometric properties of functions, sign diagrams.
- Calculus for functions in one variable, differentiation and integration
- Optimisation with economic applications
Indicative learning resources - Basic reading
- Geoff Renshaw 'Maths for Economics'(3rd edit) Oxford, 2012 (comprehensive but also straightforward);
- Knut Sydsaeter and Peter Hammond 'Essential Mathematics for Economic Analysis' (4th edit) Prentice Hall,2012 (this is an excellent text, well written and covers all the maths you need throughout UG courses);
- Another to consider is Ian Jacques 'Mathematics for Economics and Business'(6th edit), Prentice Hall 2009 (Very accessible and clearly written but lower level).
- All are available in the library (if you want to take a look first). However the materials for this course are very comprehensive (plus websites see below) so it is not necessary to buy a textbook.
Module has an active ELE page?
Indicative learning resources - Web based and electronic resources
- ELE – http://vle.exeter.ac.uk/course/view.php?id=165
- There are companion websites to most of the textbooks you will use in the first year which typically include relevant Maths Case studies.
- There is a huge range of self-study resources etc (including links to a range of topics relevant to Economics) at http://www.mathcentre.ac.uk/
- The METAL project (Mathematics for Economics: enhancing Teaching and Learning) have produced videos, guides and question banks http://www.ntu.ac.uk/metal/
Last revision date