In the Business World, Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis etc.
Business Mathematics is designed to introduce the basic mathematical skills needed to understand, analyze, and solve mathematical (real life) problems encountered in business and finance, and in investment decision making. There are no prerequisites for Business Mathematics; however, students are expected to be able to perform the basic arithmetic operations; addition, subtraction, multiplication and division with ease, and to have some familiarity with fractions, with algebraic operations, and with some basic mathematical principles.
By studying Business Mathematics, analytical skills and attitude are developed. Bringing math into daily life, daily practice help to better understanding and therefore improve mathematical skills.
The Module of Business Mathematics is thought in Level One School of Business.
The module aims to provide students with important required skills, knowledge and attitudes necessary to become an entrepreneur. It lays a foundation to increase alertness of participants to recognize one’s potential to identify business opportunities and develop them into commercially feasible business ventures, while aware of existing rules and regulations governing business in the private and public sector. It also reflects the fundamental managerial and entrepreneurial practices for an established firm.
The module also aims to promote an understanding of the key principles, concepts and strategies of project management, and to examine the broad project environment and apply project management tools and techniques to a real or case study project.
This module aims further to promote and demonstrate knowledge, competency and skills in managing, leading and directing project teams.
This module aims at providing students with ability to analyse functions of modern government, government budget, type of tax systems, Rwandan public finance and employment income tax. Students will be able to analyse the government’s influence on economic efficiency, income distribution and economic growth and to apply the Rwandan tax laws and regulations in assessing the activities of various taxpayers.
This module is an introduction Environmental and Natural Resources Economics. It introduces students to basic concepts and modelling of Environmental Economics. Topics to be covered are:
1. Basic issues in Environmental Economics;
2. Economics of natural resources extraction
3. Externality and the environment
4. Environment valuation techniques
Credits of the module are 20 and it is a one trimester module. Thus, the evaluation of the module will be divided into tree assessments: in-course works counting for 20%, midterm examination counting for 30% and the final examination counting for 50%.
I welcome you all to the module of Actuarial Practice. The aim of this module is to introduce the major areas and issues of actuarial practices, both at the regional and international settings and expose learners to real-world situations and applications of actuarial principles. This will mainly focus on the best practices in the actuarial profession and regulations governing the work of actuaries and the delivery of actuarial services. This module will cover two main parts: standards of actuarial practice and regulation of the actuarial practice. It is worth noting that this module is almost composed of theory lessons and exercises. Theory lessons will consist of self-directed learning and group discussion, called discussion forums. Exercises’ sessions allow the students to ask questions about the theory and help them to integrate the various components of the module.
Learning Outcomes:
At the end of this module, you will be able to:
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understand the best practices in the actuarial profession
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understand the regulations governing the work of actuaries and delivery of actuarial services
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explain the best practices of the actuarial profession in particular contexts
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appropriate contextualization of the actuarial standards of practice.
The four units are divided into an 11-week schedule as described in the module outline.
The aims of this module are to introduce the major areas and issues of Construction and evaluation of Actuarial models. The module is based on the following points Selection and application of an appropriate actuarial model to data at hand; Provides a practical understanding of the processes involved in the evaluation of an actuarial model Having successfully completed this module, students should be able to Analyse data from an application in a business context. Determine a suitable model including parameter values; and Provide measures of confidence for decisions based upon the model.
At the end of this course in combination of the previous courses learners should be able to demonstrate knowledge and understanding of:
- Applying Mathematics and quantitative knowledge commensurate with the rigorous requirements of actuarial science.
- The fundamental concepts, principles and theories of actuarial science.
- Design and development of life assurance and other appropriate products
- The professional, legal and ethical responsibilities of actuarial science
- The environmental and social impact of actuarial science
- Business and management techniques relevant to actuarial science
- Quality and benchmarks in actuarial science
The implementation of regional insurance certification for the EAC states is one of the responses initiated to enhance capacity of insurance practitioners to address challenges of regional economic integration. The insurance sector plays a critical role in financial and economic development in the following ways:
The sector helps pool risk and reduces the impact of large losses on firms and households—with a beneficial impact on output, investment, innovation, and competition.
The module introduces to students a range of business analysis which includes strategy analysis - accounting analysis, financial analysis, prospective analysis. Further, this module familiarizes the students, industry analysis corporate strategy analysis competitive strategy analysis, profitability analysis, security analysis and how the managers use them to monitor, evaluate and judge their firm's performance relative to competitors and communicate to external investors. How the investment bankers, securities analysts, use business analysis for the purpose of valuing and analyzing prospective buyouts, mergers, and acquisitions.
This module provides the students with an understanding of the diverse roles of the management accountant in planning and decision making and it provides the emphasize on the performance evaluation systems. Further, this module familiarizes the students with the application of managerial accounting techniques, analytical tools and critical problem-solving skills in managerial functions. It also enables the students to adopt and develop the management performance reports and to review an organization’s progress and position.
This module aims at equipping students with public sector accounting
procedures, theories and financial reporting methods applied in the public
sector. Further, it gives students ability of understanding and preparation of
public sector accounts. It will also create an understanding of public finance,
state budget - estimates and payments procedures
Electronic commerce, commonly known as e-commerce or ecommerce, consists of the buying and selling of products or services over electronic systems such as the internet and other computer networks. The amount of conducted electronically has grown extraordinary with widespread Internet usage .The use of commerce is conducted in this way ,spurring and drawing on innovation in electronic funds transfer ,supply chain management ,Internet marketing online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction’s lifecycle, although it can encompass a wider ranger of technologies such as e-mail as well.
A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the transportation of physical items in some way. Online retailers are sometimes known as e-tailers and online retail is sometimes known as e-tail. Almost all big retailers have electronic commerce presence on the World Wide Web.
Electronic commerce that is conducted between businesses is referred to as business-to- business or B2B. B2B can be open to all interested parties (e.g. commodity exchange) or limited to specific, pre-qualified participants (private electronic market). Electronic commerce that is conducted between businesses and consumers, on the other hand, is referred to as business-to- consumer or B2C. This is the type of electronic commerce conducted by companies such as Amazon.com. Online shopping is a form of electronic commerce where the buyer is directly online to the seller’s computer usually via the internet. There is no intermediary service. The sale and purchase transaction is completed electronically and interactively in real-time such as Amazon.com for new books. If an intermediary is present, then the sale and purchase transaction is called electronic commerce such as eBay.com.
Electronic commerce is generally considered to be the sales aspects of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of the business transactions.
The primary aim of this module is to make students gain a detailed understanding of how the investment process works to maximize the investor’s returns, to make investment goals and objectives within a risk tolerance. This module makes investing less difficult, by clearly explaining the risk and return concepts, various investment terms; by elucidating the possible investment alternatives; and by discussing many of the techniques professional use to value assets/securities and to conduct diversified portfolios that increase investor’s chance of making informed decisions.
The primary aim of this module is to make students gain a detailed understanding of how the investment process works to maximize the investor’s returns, to make investment goals and objectives within a risk tolerance. This module makes investing less difficult, by clearly explaining the risk and return concepts, various investment terms; by elucidating the possible investment alternatives; and by discussing many of the techniques professional use to value assets/securities and to conduct diversified portfolios that increase investor’s chance of making informed decisions.
This module aims at equipping students with public sector accounting procedures, theories and financial reporting methods applied in the public sector. Further, it gives students ability of understanding and preparation of public sector accounts. It will also create an understanding of public finance, state budget - estimates and payments procedures.