Course unit details:
Introduction to Quantitative Methods in Economics
| Unit code | ECON60901 |
|---|---|
| Credit rating | 0 |
| Unit level | FHEQ level 7 – master's degree or fourth year of an integrated master's degree |
| Teaching period(s) | Semester 1 |
| Offered by | Economics |
| Available as a free choice unit? | No |
Aims
The principal aim of this course is to refresh foundations of both Statistics and Math that will be used later on in the year from other modules
Learning outcomes
The principal aim of this course is to refresh foundations of both Statistics and Math that will be used later on in the year from other modules
Syllabus
Provisional
For the Math Week, lectures will be structured as follows:
Lecture 1: Set, Numbers and Function
Lecture 2: Univariate Calculus and Optimization
- Derivative and Differentials
- Unconstrained Optimization;
- Constrained Maximization.
Lecture 3: Linear Algebra
- Matrix Algebra
- Quadratic Forms.
Lectures 4: Multivariate Calculus and Optimization
- Partial Derivatives
- Functions with Economics Applications
- Unconstrained Maximization
- Constrained Maximization
Lectures 5: Integration
- Indefinite Integrals
- Definite Integrals
- Eigenvalues and Eigenvectors
Statistics:
Lecture 1: Probability & Moments
Lecture 2: Joint Distribution Theory
Lecture 3: Random Sampling & Estimation
Lecture 4: Confidence Intervals & Testing
Lecture 5: OLS and Intro to ECON60901 (Compulsory only for MSc Students)
Teaching and learning methods
Video lectures and tutorials; further classes face to face.
Assessment methods
Online exam.
As part of your pre-session Maths and Stats course you will be asked to take a diagnostic test in both Maths and Stats. These will be online tests held at the end of the Introduction to Quantitative methods course. A test on Maths (calculus and linear algebra) which will contribute 10% to the final mark of ECON60811 Mathematics for Economists (MA)/ ECON60081 Mathematical Methods in Economics Analysis (MSc) and a test on Statistics worth 10% of the final mark of Econometrics course you take (either ECON60611 Introduction to Econometrics for MA students or ECON61001 Econometric Methods for MSc).
Recommended reading
Here is an outline of what we expect students to know, as a minimum, before they start the pre-session course and the areas that the course covers. This list will help you to plan any necessary revision.
You will find it useful to refer to Carl P. Simon- Lawrence Blume,, Mathematics for Economics (1994)
For a concise summary of the required knowledge of statistics see also our dedicated Econometric Computing Learning Resource (ECLR).
Teaching staff
| Staff member | Role |
|---|---|
| Yidi Sun | Unit coordinator |
| Alessia Isopi | Unit coordinator |
Additional notes
Lecturers: Alessia Isopi and Yidi Sun.
https://www.socialsciences.manchester.ac.uk/study/masters/intro-to-qm/