# QUANTITATIVE METHODS - 2019/0

Module code: ECO1015

## Module Overview

This module covers the necessary basic mathematics topics and descriptive statistics and exploratory data analysis which are necessary for the subsequent maths and statistics modules in level one.

### Module provider

Economics

RISPOLI Luciano (Economics)

## Overall student workload

Independent Learning Hours: 123

Lecture Hours: 22

Tutorial Hours: 5

Semester 1

None

## Module content

Indicative content includes:

• probability theory

• discrete probability distributions

• mathematical foundations including linear, quadratic and simultaneous equations with economic applications,

• differentiation of functions of one variable

• function properties, concavity, convexity

• optimisation of economic functions

## Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test IN-SEMESTER TEST 1 - 30 MINUTES 15
School-timetabled exam/test IN-SEMESTER TEST 2 - 45 MINUTES 25
Examination EXAMINATION - 90 MINUTES 60

N/A

## Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate

Their understanding of the mathematical concepts and their ability to apply this knowledge to economic analysis; their understanding of statistical concepts and ability to use these concepts in economics.

Thus, the summative assessment for this module consists of:

• Two in-semester tests and a final exam

• In-semester tests consist of multiple choice questions (usually held in week 6 and week 10 respectively), which allow students to demonstrate their competence in mathematical and statistical methods and in their application to economic analysis. Worth 15% and 25% of the final mark respectively.

• Final exam of 90 minutes, worth 60% of the final mark

Formative assessment and feedback

Students receive verbal feedback during lectures and tutorials. They also have fortnightly feedback sessions. For these, students are being provided with a set of exercises relating to the lecture material which they solve independently or in teams, prior to the session. In the feedback sessions, they discuss their answers in groups, receive feedback on their answers, and guidance on how these answers could be improved. For each coursework and the exam, sample questions are made available for students. After the coursework and the exam, answer keys are made available to students. Students may ask feedback during office hours or via SurreyLearn discussion forum.

## Module aims

• explain the concepts and methods of statistics and understand its applications in economics
• develop the ability to use mathematical concepts to represent economic models

## Learning outcomes

 Attributes Developed 001 Be proficient in data presentation through computational methods CP 002 Model an economic problem using functional theory KCT 003 Understand the role mathematics plays in the representation and analysis of economic theory CT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

## Methods of Teaching / Learning

The learning and teaching strategy is designed to:

• enhance skills in modelling using basic mathematical techniques,

• enhance understanding of descriptive statistics and data analysis

The learning and teaching methods include:

• 2 hour lecture per week x 11 weeks

• 1 hour feedback session ad groups discussions per week x 5 weeks

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.