EC115-Introductory Quantitative Methods in Economics and Business 1

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Level:4
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites: GCSE Maths grade B
Co-requisites:
Modules excluded: IC104 Introductory Quantitative Techniques for Business and Finance
Current from: 2021/2

Module Convenor: Dr Stefania Lovo
Email: s.lovo@reading.ac.uk

Type of module:

Summary module description:
This module provides an introduction to quantitative techniques useful in economics.

Aims:

The study of economics requires the use of quantitative methods. This module aims to introduce students to some standard techniques, such as descriptive statistics, probability theory and hypothesis testing. An objective is to provide sufficient background to allow students to understand more advanced techniques used in Part 2 and Part 3 modules.

Assessable learning outcomes:
To undertake quantitative problem solving across a range of subjects taught in the Department of Economics.

Additional outcomes:
Familiarity with Microsoft Excel.

Outline content:

A range of basic techniques including: presenting and summarising data; descriptive statistics; normal distribution; sample distribution of the mean; measures of inequality; probability; confidence intervals and hypothesis testing.

Global context:
Together with the £EC116 Introductory Mathematics for Economics 1£ this module develops the quantitative background for the joint honours study of economics. Taken together with the £EC120 Introductory Quantitative Methods in Economics and Business 2 and Study Skills£ and £EC121 Introductory Mathematics for Economics 2£ it develops the quantitative background for single honours study of economics.

Brief description of teaching and learning methods:

The module offers an introduction to a range of quantitative techniques applicable in economics and finance. The module is delivered using a combination of recorded material, lectures, online Q&A sessions, and practical small group tutorials. More specifically:

1. Recorded content material is posted on Blackboard at the beginning of each week.


2. A weekly 1-hour lecture will summarise the core material and, when appropriate, will provide examples of practical applications.


3. A weekly 1-hour online Q&A session will offer students the possibility to raise questions about the content of the module and the assessment. Students are also encouraged to submit questions ahead of the online sessions.


4. A weekly small-group tutorial covering practical exercises. Students are required to solve problem sets ahead of the class. Once the take-home material has been covered, students will be divided into smaller groups to solve additional exercises.


5. Three practical PC classes covering the use of excel and preparing students for the excel-based assignment.

Contact hours:

	Autumn	Spring	Summer
Lectures	10		1
Seminars	10
Tutorials	9
Practicals classes and workshops	3
Guided independent study:	57		10
Total hours by term	89	0	11
Total hours for module	100

Summative Assessment Methods:

Method	Percentage
Written exam	60
Written assignment including essay	20
Class test administered by School	20

Summative assessment- Examinations:
One 2-hour unseen written paper.
Part 1 examinations are held in the Summer term.

Summative assessment- Coursework and in-class tests:

There will be two pieces of assessed coursework, worth a total of 40% of the final assessment mark. 

Formative assessment methods:
Weekly problem sets which will be discussed in class.

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:
A minimum weighted (coursework and examination) mark of 40%.

Reassessment arrangements:
Re-examination for Part 1 modules takes place in August/September of the same year.
Reassessment is by examination only (coursework will not be included in the re-assessment).

Additional Costs (specified where applicable):

1) Required text books:  None

2) Specialist equipment or materials:  None

3) Specialist clothing, footwear or headgear:  None

4) Printing and binding:  There may be optional costs associated with photocopying or printing sources listed on the reading list relating to this module. Please note that the Library charges approximately 5p per photocopy.

5) Computers and devices with a particular specification:  None

6) Travel, accommodation and subsistence:  None

Last updated: 30 July 2021