BAEcon Economics

The aim of this course is to introduce students who have not taken mathematics A level to the main mathematical tools used in economics and the social sciences.
At the end of the course students should be able to: (i) differentiate simple mathematical functions of one variable, (ii) use differential calculus to solve simple, one-variable unconstrained optimisation problems; (iii) partially differentiate two-variable functions, (iv) integrate simple mathematical functions, and (v) use the definite integral to find the area under a graph.
 

GCSE/AS-Level Mathematics (compulsory Pre-Requisite).

The aim of this course is to introduce students who have not taken mathematics A level to the main mathematical tools used in economics and the social sciences.
 

At the end of the course students should be able to: (i) differentiate simple mathematical functions of one variable, (ii) use differential calculus to solve simple, one-variable unconstrained optimisation problems; (iii) partially differentiate two-variable functions, (iv) integrate simple mathematical functions, and (v) use the definite integral to find the area under a graph.
 

Provisional

The course is organized in three parts of which the second will be the largest.

Algebra and Coordinate Geometry: Basic algebra, factors and factorizing, quadratic equations, powers, logarithms, mathematical functions, graphs, linear and non-linear functions.
Differential Calculus: Slopes of graphs between points and at a point, differentiability, ordinary differentiation, rules of differentiation, marginal concepts, second derivatives, maxima and minima, profit maximization, functions of more than one variable, partial derivatives.
Integration: Indefinite and definite integration, finding the area under a curve.

Please note when looking at past exam papers that the syllabus for ECON10061 changed in 2017-18, when matrices/linear algebra was dropped and replaced with partial differentiation and integration.

Synchronous activities (such as Lectures and tutorials), and guided self-study

Understand how to differentiate simple mathematical functions of one or two variable as they arise in the study of economics 

Understand how to integrate simple mathematical functions as they arise in the study of economics 

Apply differential calculus to solve simple, one-variable unconstrained optimisation problems

Apply mathematical skills and knowledge to tackle economic problems 

In-term exam: 30%

Final exam: 70%

• Answers to exercises and tests provided via Canvas
• Exercises done during Lecture time
• Weekly exercise classes/tutorials
• Student hours

Students may find one of the following books useful in additional to the lecture notes and practice questions. There are several editions available, both second hand, and new of the following recommended books:

(1) Jacques, I. "Mathematics for Economics and Business“

(2) Renshaw, G. "Maths for Economics.”

(3) Wisniewski, M. "Mathematics for Economics”

(4) Asano, A. "An Introduction to Mathematics for Economics”

For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary.