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MATH6025 - Business Maths for Hospitality

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Title:Business Maths for Hospitality
Long Title:Business Maths for Hospitality
Module Code:MATH6025
 
Duration:1 Semester
Credits: 5
NFQ Level:Fundamental
Field of Study: Mathematics
Valid From: Semester 1 - 2017/18 ( September 2017 )
Module Delivered in 4 programme(s)
Next Review Date: November 2020
Module Coordinator: David Goulding
Module Author: AINE NI SHE
Module Description: This module is a first course in Business Mathematics for the hospitality sector. It provides an introduction to Financial Mathematics and to Statistics. Through a series of computer laboratory sessions, the learner will also have the opportunity to use software packages such as Excel to analyse data and to construct statistical charts.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Perform business calculations relevant to the hospitality sector.
LO2 Summarise raw data for presentation in tabular and graphical forms by hand and using Excel.
LO3 Calculate and interpret summary statistics relevant to the hospitality sector.
LO4 Calculate and interpret index numbers.
LO5 Perform and interpret financial mathematical calculations.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).

Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.

No requirements listed
 

Module Content & Assessment

Indicative Content
Business Calculations
Calculation and interpretation of ratios and percentages. Application to mark-up, food and beverage margin, occupancy rates, VAT calculation.
Presentation of Data
Tabulation, tally diagram. Charts and graphs, including histograms, ogives, bar charts, pie charts.
Descriptive statistics
Measures of central tendency - mean, median and mode. Measures of spread - range, variance, standard deviation, coefficient of variation. Quartiles, interquartile range, deciles and percentiles. Coefficient of skew. Advantages and disadvantages and uses of each measure.
Index Numbers
Calculation of simple indices and inflation/deflation using index number. The Consumer Price Index and its sub-indices (Recreation and Culture, Restaurants and Hotels, Food and Non Alcoholic Beverages and Alcoholic Beverages and Tobacco)
Financial Mathematics
Calculation and interpretation of simple and compound interest. AER. Depreciation - straight line method, reducing balance method. Annuities.
Assessment Breakdown%
Course Work100.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Practical/Skills Evaluation Practical exam submitting data online 1,2,3 10.0 Week 4
Practical/Skills Evaluation Practical exam submitting data online 3,4,5 20.0 Sem End
Short Answer Questions Written Test 1,2,3 30.0 Week 6
Short Answer Questions Written Exam 3,4,5 40.0 Sem End
No End of Module Formal Examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The institute reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Lecture 2.0 Every Week 2.00
Lab Computer Lab 1.0 Every Week 1.00
Independent & Directed Learning (Non-contact) Class notes, exercise sheets 4.0 Every Week 4.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Theory lecture 2.0 Every Week 2.00
Lab Computer practical 1.0 Every Week 1.00
Independent & Directed Learning (Non-contact) Independent learning 4.0 Every Week 4.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
 

Module Resources

Recommended Book Resources
  • J. Curwin and R. Slater 2007, Quantitative Methods for Business Decisions, 6th Ed., Cengage Learning London [ISBN: 978-1844805747]
  • S.Taylor 2007, Business Statistics: for Non-Mathematicians, 2nd Ed., Palgrave Macmillan [ISBN: 978-140397499]
  • L.Blocker, J.Hill, The Culinary Institute of America 2016, Culinary Math, 4th Ed., Wiley [ISBN: 978-111897272]
Supplementary Book Resources
  • W. M. Harper 1998, Statistics, 6th Ed., Financial Times/Prentice Hall [ISBN: 978-0273634263]
  • Andre Francis 2004, Business Mathematics and Statistics, 6th Ed., Thomson Learning [ISBN: 978-1844801282]
  • J.Buglear 2000, Stats To Go: A Handbook for Hospitality, Leisure and Tourism Studies, Routledge [ISBN: 978-075064556]
  • T.Jones 2007, Culinary Calculations: Simplified Math for Culinary Professionals, 2nd Ed., Wiley [ISBN: 978-047174816]
This module does not have any article/paper resources
Other Resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_OBARM_7 Bachelor of Business in Beverage Industry Management 2 Mandatory
CR_OCULA_7 Bachelor of Business in Culinary Arts 2 Mandatory
CR_OCULS_6 Higher Certificate in Arts in Culinary Studies 4 Elective
CR_OHOST_6 Higher Certificate in Arts in Hospitality Studies 1 Mandatory

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