Generic Management 3: Numeracy (2021)

Financial Mathematics is the application of mathematical methods to financial problems. It draws on tools from probability, statistics, and economic theory. This unit standard will allow one to use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues.

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Financial Mathematics is the application of mathematical methods to financial problems. It draws on tools from probability, statistics, and economic theory. This unit standard will allow one to Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues.

This unit standard will be useful to people who aim to achieve recognition at some level in Further Education and Training or to meet the Fundamental requirement of a wide range of qualifications registered on the National Qualifications Framework.

People credited with this unit standard are able to:

Use mathematics to plan and control financial instruments. Use simple and compound interest. Investigate various aspects of costs and revenue including marginal costs, marginal revenue and optimisation of profit. And use mathematics to debate aspects of the national and global economy.

Statistics and probability are sections of mathematics that deal with data collection and analysis. Probability is the study of chance and is a very fundamental subject that we apply in everyday living, while statistics is more concerned with how we handle data using different analysis techniques and collection methods.

The essential purposes of the mathematical literacy requirement are that, as the learner progresses with confidence through the levels, the learner will grow in the following areas:

A confident, insightful use of mathematics in the management of the needs of everyday living to become a self-managing person. An understanding of mathematical applications that provides insight into the learner`s present and future occupational experiences `and so develop into a contributing worker. The ability to voice a critical sensitivity to the role of mathematics in a democratic society and so become a participating citizen.

Numeracy

1
Lesson 1: Calculate Shape and Motion
4:05
2
Quiz 1: Formula
3 questions
3
Lesson 2: Geometrical Relationships
2:16
4
Quiz 2: Shapes & Figures
3 questions

Maths

1
Lesson 1: Budget
7:39
2
Lesson 2: Budgeting Process
3:13
3
Lesson 3: Terminology
4:41
4
Quiz 1: Using Mathematics for Financial Instruments
8 questions
5
Lesson 4: Simple and Compound Interest
9:39
6
Lesson 5: Interest Rates
5:14
7
Lesson 6: Time Value of Money
3:50
8
Lesson 7: Annuity
6:19
9
Lesson 8: Futures
14:59
10
Lesson 9: Investing in Shares
8:53
11
Lesson 10: Pooled Investments
8:27
12
Lesson 11: RA’s vs Endowments
7:31
13
Quiz 2: Simple & Compound Interest
15 questions
14
Lesson 12: Profit Maximisation
2:46
15
Lesson 13: Marginal Revenue
9:19
16
Lesson 14: Marginal Cost
5:14
17
Quiz 3: Costs & Revenue
6 questions
18
Lesson 15: Exchange Rates
7:37
19
Lesson 16: Currency in Relation to Remuneration
2:14
20
Lesson 17: Monetary Policy
6:13
21
Quiz 4: National & Global Economy
5 questions

Probability

1
Lesson 1: Data
11:18
2
Lesson 3: Statistical Basics
3:30
3
Lesson 2: Statistics
4:50
4
Lesson 4: Data Collection
12:42
5
Lesson 5: Data Collection Methods
4:29
6
Quiz 1: Collecting, Organising and Representing Data
10 questions
7
Lesson 6: Probability Models
2:08
8
Lesson 7: Measurement
4:18
9
Lesson 8: Statistical Calculations
5:20
10
Lesson 9: Measures of Dispersion
10:43
11
Quiz 2: Probability Models
11 questions
12
Lesson 10: Probability
12:15
13
Lesson 11: Conditional Probability
3:20
14
Lesson 12: Independent vs Dependent Events
2:31
15
Lesson 13: Calculating Probability
15:15
16
Lesson 14: Probability and Statistical Models
6:08
17
Quiz 3: Probability and Statistical Models
8 questions

ASSESSMENT

1
SP 3: Formative Assessment: Numeracy
2 Hours
2
SP 3: Summative Assessment: Numeracy
2 Hours

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