Quantitative Methods

PURPOSE OF COURSE

Quantitative methods involve the application of quantitative techniques in various fields like economics, commerce, agriculture, industry, marketing and general administration. Such techniques help in complex planning, managerial and economic problems. These techniques involve the introduction of elements of quantities involving the use of numbers, symbols and other mathematical expression of tools. 

EXPECTED LEARNING OUTCOMES

By the end of the course unit, students should be able to:

• Explain Quantitative skills that provide a foundation for understanding other courses in economics
• Discuss the role of quantitative methods in decision making conditions under certainty, risk and uncertainty
• Describe the techniques that are used in analyzing relationships that determine probable future consequences of decision choices.
•  Devise appropriate measures of effectiveness while evaluating merit and alternative action.