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2013/14 Undergraduate Module Catalogue

LUBS1240 Mathematics and Statistics for Business and Economics 1

20 creditsClass Size: 400

Module manager: Dr Gaston Yalonetzky

Taught: Semesters 1 & 2 (Sep to Jun) View Timetable

Year running 2013/14

Pre-requisite qualifications

Mathematics at least GCSE grade A standard

This module is mutually exclusive with

LUBS1195Introductory Modelling for Management (1)
LUBS1675Introductory Statistics for Management (I)
LUBS2195Introductory Modelling for Management (II)
MATH0111Elementary Diff Calculus 1
MATH0131Elementary Differential Calculus (Version 2)
MATH0212Elementary Integral Calculus (Version 1)
MATH0360Introduction to Applied Mathematics 1
MATH0365Foundation Probability and Statistics
MATH0370Introduction to Applied Mathematics 2
MATH0380Foundation Applied Mathematics for Business
MATH1050Calculus and Mathematical Analysis
MATH1150Mathematics for Geophysical Sciences 2
MATH1351Applications of Mathematics
MATH1400Modelling with Differential Equations
MATH1410Modelling Force and Motion
MATH1460Mathematics for Geophysical Sciences 1
MATH1715Introduction to Probability
MATH1725Introduction to Statistics
MATH1815Modelling in Statistics and Probability
MATH1825Statistics Through Application
MATH1840Introduction to Statistical Modelling
MATH1910Modelling and Investigations
MATH1915Basic Use of Computers for Mathematics
MATH1916Basic Use of Computers for Mathematics
MATH1917Basic Use of Computers for Mathematicians

This module is approved as an Elective

Module summary

This module introduces the basic mathematical and statistical tools that are pre-requisites for understanding economics and business.PLEASE NOTE: This module is available as an elective ONLY if taken with LUBS1950 and IS NOT available to any students on single or joint honours programmes in Mathematics.


On completion of this module, students will be able to:
- recognise and apply the main elementary techniques in algebra, calculus and statistics to general quantitative problems;
- use applications of algebra, calculus and statistics to solve basic problems in accounting, economics, and finance;
- understand the applied literature in economics, accounting and industrial studies which utilise the basic techniques in algebra, calculus and statistics; and
- undertake study at higher levels in quantitative modules in accounting and economics.


- Mathematical models of break-even and demand and supply analysis
- linear programming, non-linear functions; differentiation, and integration applied to marginal analysis
- profit maximisation, and dynamics, with partial differentiation and constrained optimisation
- descriptive statistics
- data analysis
- probability theory
- probability distributions
- sampling
- hypothesis testing

Teaching methods

Delivery typeNumberLength hoursStudent hours
Private study hours136.00
Total Contact hours64.00
Total hours (100hr per 10 credits)200.00

Private study

For each 20 credits of study taken, the expectation is that the normal study time (including attendance at lectures and tutorials, self-study and revision) is 200 hours.

Opportunities for Formative Feedback

Students will complete weekly workshop exercises, periodic tests and will also be given the opportunity to attempt mock examinations for each of the maths and statistical sections of the module.

Comments and marks received for these tests are not part of the formal module-exam, and are intended solely to assist students with their exam preparations.

Methods of assessment

Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)1 hr 30 mins50.00
Standard exam (closed essays, MCQs etc)1 hr 30 mins50.00
Total percentage (Assessment Exams)100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 27/03/2014


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