Study-Unit Description

Study-Unit Description


TITLE Quantitative Analysis for Business 2

LEVEL 01 - Year 1 in Modular Undergraduate Course


DEPARTMENT Faculty of Economics Management and Accountancy

DESCRIPTION This study-unit will cover the following content:

- matrix algebra - matrices, inverses and determinants;
- integration and the definite integral;
- partial differentiation;
- constrained optimization.

Study-unit Aims:

This study-unit aims to:
- Equip the students with the necessary quantitative analysis skills to enable them to apply them in various business disciplines;
- Underscore the importance of business, managerial, economic and financial application in real-life situations;
- Provide an adequate foundation for other study units in the subsequent undergraduate years of the course (e.g., Operations Research, Econometrics, Managerial Decision Modelling, Derivatives Markets, Research Methods, etc.

Learning Outcomes:

1. Knowledge & Understanding
By the end of the study-unit the student will be able to:

- Master a vast array of quantitative analysis techniques such as matrix algebra, integral calculus, partial differentiation, and constrained optimization techniques;
- Apply the knowledge they have gained in other subsequent modules offered by the Faculty at a more advanced stage of their studies;
- Appreciate that quantitative analysis is a fundamental language of management, marketing, economics, insurance and finance, and that through mastering this language, students will be more capable of both communicating and implementing effectively business concepts.

2. Skills
By the end of the study-unit the student will be able to:

- Express business issues and applications in terms of the relevant quantitative notation and equations, both within this subject as well as in other business related topics;
- Manipulate effectively quantitative expressions in accordance with the dynamic requirements of the business model under investigation;
- Interpret in a coherent and consistent manner quantitative expressions whenever they crop up in economic and business literature;
- Apply their grasp of numeracy and intuitive knowledge of analytical techniques to their work during the rest of their academic studies, whether this consists of assignments, case studies, dissertations, etc.

Main Text/s and any supplementary readings:

Essential Reading
- Haeussler, E.F., Paul, R.S., & Wood, R.J. (2010), Introductory Mathematical Analysis for Business. Economics and the Life and Social Sciences (13th ed.), Pearson.

Supplementary Reading
- Dowling, E.T. (2009) Mathematical Methods for Business and Economics. McGraw-Hill.

STUDY-UNIT TYPE Lecture and Tutorial

Assessment Component/s Assessment Due Resit Availability Weighting
Examination (2 Hours) SEM2 Yes 100%

LECTURER/S Alain Mifsud
Matt Vella
Christian Bonello
Dominic Cortis (Co-ord.)
Stephanie Fabri

The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the description above applies to study-units available during the academic year 2020/1. It may be subject to change in subsequent years.