MANG1007 Management Analysis
Module Overview
MANG1007 Management Analysis seeks to develop and enhance the basic mathematics and statistics knowledge and skills that are relevant to decision making in organisations. MANG1007 Management Analysis is a comprehensive module. It covers a wide range of fundamental quantitative techniques as applied in all areas business and management including financial mathematics, linear programming, statistical data and how to summarise it, probability and decision trees, basic differential calculus and its applications in decision making. MANG1007 Management Analysis also develops practical skills linked to quantitative data analysis via computer labs in spreadsheet modelling (MS Excel) and introduction to a statistical computer package for analysing and displaying data (SPSS).
Aims and Objectives
Module Aims
- To introduce students to the key issues associated with quantitative models and associated processes that support problem solving and decision making in management - To develop the quantitative skills and knowledge needed to underpin such problem solving in management - To give familiarity and confidence both with mathematical notation and spreadsheet implementations of these quantitative skills.
Learning Outcomes
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- Understand the basics of Algebra and how it is applied in business
- Understand the basics of Financial Mathematics
- Understand the basic probability concepts
- Understand the basic optimisation techniques
- Understand the basic decision-modelling techniques
- Have knowledge and critical understanding of data collection and data presentation techniques
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- Solve basic mathematics and statistics problems in a business/management context
- Apply mathematics and statistics knowledge to model common business/management problems
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- Critical analysis and decision making skills whether working alone or with a group, quantitative analysis including using spreadsheet tools
Subject Specific Practical Skills
Having successfully completed this module you will be able to:
- Build quantitative models, which aid the solution of management problems and decision making
- Have familiarity and confidence in the use of mathematical notation and basic mathematical skills used in managerial problem solving
Syllabus
- Interest rates and value of cash flow - Dynamics of demand, returns and profits - Linear programming for product mix and cost-benefit problems - Decision making under uncertainty - Gambling, lotteries and investment portfolio management - Summarising and communicating data - Simple linear regression - Stock control as an example of optimisation
Learning and Teaching
Teaching and learning methods
Teaching methods include: - Lectures - Tutor-led workshops - Classes - Computer laboratory sessions. Learning activities include: - Handouts and other teaching aids - Facilitating learning through group discussions and working in groups on projects related to the material of the course - Individual learning through using course material on new problem solving exercises.
| Type | Hours |
|---|---|
| Follow-up work | 15 |
| Tutorial | 9 |
| Completion of assessment task | 23 |
| Lecture | 24 |
| Wider reading or practice | 26 |
| Preparation for scheduled sessions | 25 |
| Revision | 26 |
| Practical classes and workshops | 2 |
| Total study time | 150 |
Resources & Reading list
Louise Swift and Sally Piff (2010). Quantitative Methods for Business, Management and Finance.
Wisniewski, M. (2002). Quantitative Methods for Decision-Makers.
Morris C. (2000). Quantitative Approaches in Business Studies.
Waters, D. (2001). Quantitative Methods for Business.
Assessment
Formative
Assessment tasks
Summative
| Method | Percentage contribution |
|---|---|
| Examination (2 hours) | 80% |
| Online test | 20% |
Repeat
| Method | Percentage contribution |
|---|---|
| Examination (2 hours) | 100% |
Referral
| Method | Percentage contribution |
|---|---|
| Examination (2 hours) | 100% |
Repeat Information
Repeat type: Internal & External
Linked modules
Not available to Students taking Modules: ECON1005, ECON1006, ECON1008 or ECON1011
Costs
Costs associated with this module
Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.
In addition to this, students registered for this module typically also have to pay for:
Textbooks
Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the core/recommended text as appropriate.
Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.