Quantitative Methods for Business and Management

BMAN10960 Quantitative Methods for Business and Management 20 Full year Undergraduate Level 1 Panagiotis Sarantopoulos Unit coordinator Alliance Manchester Business School 1 FHEQ level (Framework for Higher Education Qualifications) ' First part HE study/Bachelors ' European Credit Transfer & Accumulation System Rating : 10.0 This is an introductory course on the fundamental principles, problem areas and techniques of Quantitative Methods for Business and Management. The course covers the basic concepts of statistics and financial mathematics (Semester 1), modelling and analysis for supporting decision making (Semester 2). The main concepts are introduced through examples of applications. Tools used include basic algebra, graphing and MS Excel. Although the course is essentially mathematical in nature, a rigid mathematical treatment is avoided; the necessary mathematical concepts are derived from examples rather than through proofs.  This is an introductory course on the fundamental principles, problem areas and techniques of Quantitative Methods for Business and Management. The course covers the basic concepts of statistics and financial mathematics (Semester 1), modelling and analysis for supporting decision making (Semester 2). The main concepts are introduced through examples of applications. Tools used include basic algebra, graphing and MS Excel. Although the course is essentially mathematical in nature, a rigid mathematical treatment is avoided; the necessary mathematical concepts are derived from examples rather than through proofs.  To introduce students to the fundamental principles, problem areas, and techniques of Quantitative Methods for Business and Management. Students will be taught the basic concepts of modelling and analysis for supporting decision making. Concepts are introduced through examples of applications. Tools used include basic algebra, graphing and spreadsheet software.  At the end of the course students should be able to:<ul> <li> Apply basic mathematical operations and perform basic algebra</li> <li> Appreciate the use of scientific methodology in Management</li> <li> Understand issues in the collection and analysis of quantitative data for supporting management decision making</li> <li> Understand and apply a range of basic statistical methods</li> <li> Understand and apply basic techniques used in the mathematics of finance</li> <li> Recognise patterns in data</li> <li> Appreciate the value and limitations of using quantitative models for supporting decisions</li> <li> Develop and analyse functions to provide information to decision makers</li> <li> Apply basic models to problems and data sets, analyse these models and provide information to decision makers</li> <li> Use spreadsheet tools to display and analyse data and models.</li></ul>  Understand issues in the collection and analysis of quantitative data for supporting management decision makingUnderstand and apply a range of basic statistical methodsUnderstand and apply basic techniques used in the mathematics of financeAppreciate the use of scientific methodology in Management Apply basic mathematical operations and perform basic algebraRecognise patterns in dataAppreciate the value and limitations of using quantitative models for supporting decisions  Use spreadsheet tools to display and analyse data and models  Develop and analyse functions to provide information to decision makersApply basic models to problems and data sets, analyse these models and provide information to decision makers  Other We believe the following transferable skills are exercised in this module: Analytical skills Decision making IT skills Numeracy skills Problem solving Research Semester 1- Data collection and sampling- Presenting and grouping data  - Summarising data- Set notation and probability- Index numbers- Compound interest and growth- Discounting and reduced balance depreciation- Savings endowments and sinking funds- Loans, mortgages, and annuities- Investment decisions (e.g., NPV, IRR) Semester 2- Modelling relationships and linear functions- Least squares regression- Quadratic and polynomial functions- Hyperbolic and exponential functions- Multivariate functions and an introduction to analysis- An introduction to time series- An introduction to forecasting- An introduction to decision analysis- An introduction to linear programming  Semester 1:- Lectures: 10 hours     -- 10 x 1 hours face-to-face- Case Lectures: 6 hours     -- 3 x 2 hours face-to-face- Maths Surgeries: 5 hours (these are optional sessions)   -- 5 x 1 hours face-to-faceSemester 2:- Lectures: 20 hours     -- 10 x 2 hours face-to-face- Case Lectures: 3 hours     -- 3 x 1 hours face-to-face- Maths Surgeries: 5 hours (these are optional sessions)   -- 5 x 1 hours face-to-facePrivate study: 151 hoursTotal study hours: 200 hours split between lectures, self-study and preparation for classes, case-studiesWeekly online asynchronous quizzes provide opportunities for formative feedback and re-enforce understanding of the course content.  0 Other 100% Final exam (one per semester) 100% (50% per semester)   <ul><li>Informal advice and discussions during lectures, case  lectures and math surgeries</li><li>Formative self-tests available in the VLE</li><li>Responses to student emails and feedback provided via the online discussion forum.</li><li>Generic feedback posted on the VLE regarding overall examination performance.</li></ul> This course is core for first year students on BSc Management / Management (specialism), BSc International Management, BSc International Management with American Business Studies.Pre-requisites: N/A Co-requisites: None Dependent courses: •    BMAN24621 Business Data Analytics •    BMAN31152 Decision Analysis for Business & ManagementProgramme Restrictions: This course is core for first year students on BSc Management / Management (specialism), BSc International Management.   N CORE Text: Les Oakshott (2020),Essential Quantitative Methods, Bloomsbury  Lectures 39 Seminars 12 0 149