University of Phoenix
Quantitative reasoning uses underlying skills used in economics, finance, accounting, operations, and research. It is important to learn the different terms and varieties of applications and problem solving tools used in these courses in order to understand the process and solutions of business. Quantitative reasoning is linked with math using numbers, but differs in that is requires practical applications (Davidson, M. & McKinney, G. Quantitative Reasoning:
An Overview, ¶ 2). A large element in quantitative reasoning is interpretation of research, results, and to recognize critical questions when brought up by other quantitative claims (Lutsky, N. 2006. ¶ 12).
Economics studies the financial element of the economy. When studying economics it is important to understand the numbers you are analyzing. By learning quantitative reasoning the identification of independent and dependent variables would be easier to understand, therefore easier to analyze where the economy stands in specific situations. Learning the terms and use of linear algebra, analytical geometry and differential calculus and the measures of central tendency, measures of dispersion, distribution theory and regression analysis, is important in understanding specific components of economics (Economics education – a cause for worry. 2007). Finance and accounting are very similar studies. Finance is the business of managing an organization, for example, balancing a checkbook. Accounting is organizing and maintaining finances, for example, creating a budget of expenses bi-monthly. Quantitative reasoning would help to understand and apply mathematical equations to the finances being examined. Operations studies the managing of the way a business system functions, for example, running a department in a large corporation and learning the ins and outs of each job in the department. Quantitative reasoning would help learn...