- Department: Economics and Related Studies
- Credit value: 20 credits
- Credit level: C
- Academic year of delivery: 2024-25
- See module specification for other years: 2023-24
This module introduces key topics and methods in mathematics that are relevant to the study of economics.
Occurrence | Teaching period |
---|---|
A | Semester 1 2024-25 |
To introduce some of the ways in which mathematics is used in the study of economics, and to ensure sufficient grounding for the mathematical aspects of core economics modules in Stages 2-3.
Familiarity with and understanding of the main mathematical techniques used in economics and their typical applications.
Set theory and logic
Sequences
Difference equations
Geometric progressions
Discounting and present value
Continuous growth
Convergence and oscillation
Linear algebra
Vector and matrix operations
Solving systems of linear equations using Gaussian elimination and inverses
Linear independence
Linear transformations
Determinants
Eigenvalues and eigenvectors
Optimisation
Quadratic forms, definiteness and convexity
Extreme points and stationarity
Gradients and level sets
Unconstrained optimisation
Constrained optimisation with multiple equality and inequality constraints (Kuhn-Tucker)
Additional topics required for 2nd and 3rd year modules
Task | % of module mark |
---|---|
Closed/in-person Exam (Centrally scheduled) | 100 |
None
1 formative assessment due in Week 10. It consists of a problem set to which students must submit solutions. The problems will be designed in a way that prepares students for the exam.
Task | % of module mark |
---|---|
Closed/in-person Exam (Centrally scheduled) | 100 |
The students will receive marks on the summative assessment.
They will also be provided with a mark breakdown on the summative exam and worked solutions. Students will be provided with problem sets which they can use to evaluate how well they have understood the materials. There will also be a formative assessment where students will submit solutions to a problem set and receive feedback.
“Fundamental Methods of Mathematical Economics” by Alpha C. Chiang. Ideally the 4th edition (2005), but the 3rd edition (1984) would work as well.