Business
MA208: Quantitative Techniques for Business (5 ECTS)
This is a core module of the second year of Business Information System (BIS) Bachelor studies. This course aims at creating a basic understanding of elementary mathematical concepts that are of common use in business, as well as to establish familiarity with some simple tools useful for dealing with business quantitatively.
Taught in Semester(s) 1. Examined in Semester(s) 1.
Workload: 100 hours (36 Lecture hours, 18 Tutorial hours, 46 Self study hours).
Module Learning Outcomes.
On successful completion of this module the learner should be able to:
- Carry out Linear Programming for resources management.
- Calculate with interest rates of loans, mortgages, etc.
- Make elementary probability dependent predictions on financial outcomes.
- Draw statistical diagrams; handle average and standard deviation with Chebyshev's inequality.
Indicative Content
Quantities have a place in the focus of business activities. A business activity is more appreciated the more profit it generates. So, quantitative aspects turn out to become qualitative aspects, and being able to handle them with appropriate methods therefore is a key qualification on the pertinent job market. Tools provided for this purpose in this course are Linear Programming for resources management, basic financial mathematics, elementary probability theory and statistics for beginners.
Module Resources
- Frank S. Budnick, "Applied mathematics for business, economics, and the social sciences".
- David R. Anderson, Dennis J. Sweeney and Thomas A. Williams, "Quantitative methods for business".
- Clare Morris, "Quantitative approaches in business studies".
- Louise Swift, "Quantitative methods for business, management and finance".
- Harold Bierman, Charles P. Bonini and Warren H. Hausman, "Quantitative analysis for business decisions".
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