STAD1000 Business Maths 1
Business Maths has been designed to assist you to develop the statistical skills that are used in data analysis in Economics, Finance and Business. It will also help you to learn an equally vital skill of interpreting results and presenting them in a professional manner, thus making it easy for a “lay-man” to understand the situation.
The spreadsheet application MS EXCEL will be integrated into this unit, which will highlight the importance of technology in financial Mathematics and Statistics. Contrary to popular opinion, statistics is a language-rich unit: using English to explain, describe and comment on various aspects of the unit is very important and will be emphasized.
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The aim of this unit is to provide students with the economic literacy skills that are required by professionals, especially those in business, management and commerce, by providing opportunities to develop an understanding of the key economic principles, theories, models and laws and to use them to solve common economic problems.
The main aims of the unit are to introduce the three key aspects of economics. Hence, the unit is divided into the following three sections:
- Section one introduces students to the methods and subject material of economics. In particular, students are introduced to the methodology of economics, which differs in many respects to methodologies used by other social science disciplines, economic analysis and the nature of the economising problem
- Section two introduces students to the principles of microeconomics. The focus of this section is on developing an understanding of how markets help solve the economising problem by efficiently allocating scarce resources among competing uses
- Section three introduces students to the principles of macroeconomics. This section builds the aggregate expenditure model then the aggregate demand/aggregate supply model in order to develop an understanding of how governments stabilise the economy as a whole using a combination of monetary and fiscal policies.
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ACCD1000 Accounting for Decision Making
This unit covers the use of accounting information by external users and management. Topics include accounting information in its decision making context; external financial reports; financing and business structures; financial statement analysis; the time value of money; capital budgeting; cost-volume-profit analysis; management accounting tools of analysis; and budgeting.
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