EC226A: Mathematics for Economists 1

Module Provider:

Economics

Number of credits:

20 [10 ECTS credits]

Level:

I (Intermediate)

Terms in which taught:

Autumn and Spring

Module Convenor:

Dr GR Crampton

Pre-requisites:

Co-requisites:

Modules excluded:

Module version for:

2006/7

Aims:

Assessable learning outcomes:
This module is intended to provide students doing the main single subject economics modules (including accounting) with practice at the mathematical techniques they will require for the core modules and certain of the options in the second and final years of the degree programmes. At the end of the module students should be able to:
Understand economic theory which makes use of basic mathematical techniques involving, e.g., optimisation under constraint, linear algebra, difference equations. Solve a range of economic problems which are formulated in mathematical terms.
Follow the mathematical content of the core modules in microeconomics, macroeconomics, and introductory econometrics.

Additional outcomes:
Students will have a better developed sense of the precision involved in formulating economic models rigorously. Weaknesses in their numeracy and mathematical skills should have been eliminated through practice with class exercises.

Outline content:
Optimisation with several variables; economic applications.
Revision of properties of the exponential and logarithm functions.
Constrained optimisation in economics.
Matrix algebra and economic applications.
Comparative Statics.
Concave programming and the Kuhn-Tucker technique.
Difference equations in economics.

Brief description of teaching and learning methods:
The lectures are devoted to formally covering the material on mathematical techniques and their economic applications. There is a typed set of lecture notes to assist students, as well as a Blackboard site. Classes cover difficulties which may have arisen in lectures, and go through a series of exercises and economic applications of the material, which students have attempted beforehand. The class tutor and lecturers are available in their office hours to assist further with difficulties.

Contact hours:

Assessment:
Coursework
There will be two unseen tests of 1 hour each, each testing half of the module material.

Relative percentage of coursework
Coursework has a weight of 20% in the final assessment mark, each test having a weight of 10%.

Penalties for late submission
Penalties for late submission will be in accordance with the University policy.

Examination
One 2-hour unseen written paper.
Part 2 examinations begin in the fourth week of the Summer term.

Requirements for a pass
A minimum mark of 40%.

Reassessment arrangements
Re-examination for Part 2 modules takes place in August/September of the same year.