Module Title:Business Mathematics
Language of Instruction:English
Credits: 10
NFQ Level:6
Module Delivered In 3 programme(s)
Teaching & Learning Strategies: Classes with be practical in focus, using example questions to illustrate key points and theories. Students will be expected to complete work-sheets in their independent learning time to re-enforce understanding of key issues
Module Aim: To give a thorough grounding in the mathematics required for the successful understanding and solution of business problems.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Apply mathematical skills to solve numerical problems in the area of business
LO2 Solve mathematical problems and manipulate formula, as appropriate
LO3 Appraise capital investment projects on the basis of Net Present Value and Internal Rate of Return
LO4 Apply statistical skills to solve business problems and model, analyse, interpret and present business data, using the principles of statistics.
LO5 Display key date in structured business scenarios, create graphs, tables and charts to highlight relevant numerical business information
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
No requirements listed
 

Module Content & Assessment

Indicative Content
Mathematics of Finance
• Simple and compound interest • Present and Future Value • Discounting • Arithmetic series and their application to regular investments • Annuities and their Present Value • Straight line and reducing balance methods of depreciation
Capital Investment Appraisal
• Net Present Value of investments • Internal Rate of Return • Straight line and reducing balance methods of depreciation
Equations
• Linear and quadratic equations and their graphs • Solving simultaneous equations • Simultaneous inequalities • Graphing inequalities • Graphical solution of Linear Programming problems
Calculus
• Differentiation and Applications/Rules of Differentiation • Maximum and Minimum points • Graphing Economic Functions • Business Applications: • Marginal Cost, Marginal Revenue, Profit Maximisation
Probability
• Introduction to probability • Normal Distribution
Statistics
• Introduction • Purpose of Statistics
Measures of Central Tendency and Dispersion
• Mean, Mode and Median • Standard Deviation, Range • Coefficient of Variation • Application and Interpretation in Quality Control
Correlation and Regression
Correlation and Regression
Time Series and Forecasting
Time Series and Forecasting
Index Numbers
Index Numbers
Assessment Breakdown%
Continuous Assessment40.00%
End of Module Formal Examination60.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Short Answer Questions Class Test: Short questions to reinforce learning 1,2,3 10.00 n/a
Examination Class Test: Class test to reinforce learning 1,2,3 10.00 n/a
Other Assignment: Application of business mathematics to real-life situation 4,5 20.00 n/a
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam Final Exam: Final end of year 1,2,3,5 60.00 End-of-Semester

ITCarlow reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture 30 Weeks per Stage 3.00
Independent Learning 30 Weeks per Stage 3.67
Total Hours 200.00
 

Module Delivered In

Programme Code Programme Semester Delivery
CW_BWBUS_B Bachelor of Business (Honours) Options: Business or Digital Marketing 1 Mandatory
CW_BWBBS_D Bachelor of Business in Business (Options: Business or Digital Marketing) 1 Mandatory
CW_BWBUS_C Higher Certificate in Business 1 Mandatory