Course unit details:
Mathematics for Economists
| Unit code | ECON60811 |
|---|---|
| Credit rating | 15 |
| Unit level | FHEQ level 7 – master's degree or fourth year of an integrated master's degree |
| Teaching period(s) | Semester 1 |
| Available as a free choice unit? | Yes |
Overview
The aim of this course is to:
(i) introduce students to several mathematical tools used in economics;
(ii) illustrate the use of these tools by applying them to various economic models;
(iii) complement the core postgraduate micro- and macro-economic courses.
Pre/co-requisites
| Unit title | Unit code | Requirement type | Description |
|---|---|---|---|
| Introduction to Quantitative Methods in Economics | ECON60901 | Pre-Requisite | Compulsory |
Aims
The aim of this course is to:
(i) introduce students to several mathematical tools used in economics;
(ii) illustrate the use of these tools by applying them to various economic models;
(iii) complement the core postgraduate micro- and macro-economic courses.
Learning outcomes
On completion of this unit, successful students should be able to demonstrate understanding of static and dynamic optimization applicable to economics.
.
Syllabus
During the semester, lectures will focus on two main topics:
-Static optimization
-Dynamic systems and dynamic optimization.
Teaching and learning methods
Lectures and Tutorials.
Assessment methods
Introduction to Quantitative Methods Test - 10%
Coursework - 20%
January exam - 70%
Recommended reading
The reference book for this course is M. Hoy et al., Mathematics for Economics, Third Edition, MIT Press, 2011.
For the second topic, the students might also find beneficial to consult the classical book by A.C. Chiang, Elements of Dynamic Optimisation, McGraw-Hill, 1992.
Study hours
| Scheduled activity hours | |
|---|---|
| Lectures | 20 |
| Tutorials | 5 |
| Independent study hours | |
|---|---|
| Independent study | 125 |
Teaching staff
| Staff member | Role |
|---|---|
| Mohammad Haque | Unit coordinator |
Additional notes
Prerequisite - ECON60901