Business Maths (Level 8)

Duration 12 weeks Full-time x 5 hours per week

Stage 1

NFQ Level Level 8

ECTS Credit 10

The Business Mathematics module is included in the programme in order to provide learners with practical numerical ability and skills that are work and career-related and that will provide the necessary mathematical foundation for successful progression through all stages of the programme. It will provide learners with skills of statistical analysis and presentation and the ability to critically assess statistical information presented in a range of contexts and forms.

It will provide a basis for the critical analysis and evaluation involved in the later-stage modules, and will build learners’ confidence in coping with and evaluating the ways in which quantitative techniques and numerical concepts impinge on daily business life and discourse. It will also introduce learners to computer software that is widely used in the general business and academic environments. The module contributes to the development of many of the competences and skills that are inherent in the programme learning outcomes.

Request Callback

Indicative Syllabus

Basic Numeracy

Numbers, mathematical operations, multiples, factors, powers, indices;
Fractions, decimal fractions, percentages, ratios, proportions, division in proportions;
Approximation, standard form, use of electronic calculator;

Financial Mathematics

Calculations involving foreign currencies;
Simple/compound interest, compound interest formula;
Depreciation, straight line/reducing balance;
Capital expenditure evaluation techniques; simple payback, discounted payback, net present value, internal rate of return

Breakeven Analysis

Fixed and variable costs;
Breakeven formula;
Breakeven chart, contribution;
Limitations of breakeven analysis;

Functions and Introduction to Calculus and Optimisation

Linear functions, quadratic functions;
Graphs of linear and non-linear functions;
Business applications of linear and non-linear functions; revenue, cost and profit functions;
Finding slopes and rates of change;
Rules of differentiation;
Use of calculus to find slopes and rates of change;
Finding maximum and minimum values;
Optimisation of cost and profit functions;

Probability

Calculation of Probability
Addition Rule
Multiplication Rule
Sample Space Diagrams
Tree Diagrams
Expected Value

Module Details

Minimum Intended Learning Outcomes (MIMLOS)

On successful completion of this module the learner will be able to:

Perform business-related calculations using basic numerical skills
Solve financial and business-related problems using commonly used mathematical techniques and formulae
Use quantitative techniques to assist in business decision-making
Combine graphical and numerical exercises to solve mathematical and business-related problems
Apply algebraic techniques to break down problems into a logical, step-by-step, process

Assessments / Exams

MIMLOs
Assessment
Percentage

This module will be assessed via a 60% Proctored Written Examination and 40% Continuous Assessment.

Reassessment Opportunity

Where the combined marks of the assessment and examination do not reach the pass mark the learner will be required to repeat the element of assessment that they failed. Reassessment materials will be published on Moodle after the Examination Board Meeting and will be aligned to the MIMLOs and learners will be capped at 40% unless there are personal mitigating circumstances.

Business Maths (Level 8)

Pranav Kakkar

Master's Economics - TCD

Pranav is a lecturer specialising in Business Mathematics and Economics. He holds an MSc. Economics from Trinity College Dublin and a BSc. Economics and Management from the London School of Economics. He has extensive experience teaching undergraduate and postgraduate students. Alongside his teaching, Pranav has professional experience in economic research and energy markets in Ireland. He brings this industry experience into the classroom, connecting math concepts with their practical applications in business and economics.

Pranav is passionate about making quantitative subjects accessible and engaging. Thereby supporting students in developing the analytical and problem solving skills needed for academic and professional success.

Expert Faculty

Learn from the best in your industry

Flexible Learning Options

Study your way, on your time

Career Focused Programmes

Programmes with purpose, aimed at your future

Student Support Services

Here for you, every step of the way

Get in touch

If you have any questions specific to this course, you can speak directly with one of our course lecturers. Please get in touch, we’re happy to help!