EC251-5-SP-CO:
Mathematical Methods in Economics

The details
2019/20
Economics
Colchester Campus
Spring
Undergraduate: Level 5
Current
Monday 13 January 2020
Friday 20 March 2020
15
14 October 2019

 

Requisites for this module
EC115 or BE300 or IA156 or MA101
(none)
(none)
(none)

 

EC351

Key module for

BSC 0E45 Economics (Including Placement Year),
BSC L101 Economics,
BSC L103 Economics (Including Foundation Year),
BSC L107 Economics (Including Year Abroad),
BSC 0Q64 Financial Economics (Including Placement Year),
BSC L114 Financial Economics,
BSC L117 Financial Economics (Including Foundation Year),
BSC L194 Financial Economics (Including Year Abroad),
BSC 5H18 International Economics (Including Placement Year),
BSC L116 International Economics,
BSC L161 International Economics (Including Foundation Year),
BSC L162 International Economics (Including Year Abroad),
BSC 5M00 Management Economics (Including Placement Year),
BSC L109 Management Economics,
BSC L191 Management Economics (Including Foundation Year),
BSC L193 Management Economics (Including Year Abroad),
BSC LG01 Economics with Computing,
BSC LG02 Economics with Computing (Including Year Abroad),
BSC LG03 Economics with Computing (Including Placement Year),
BSC C148 Economics with Psychology,
BSC C158 Economics with Psychology (Including Year Abroad),
BSC C168 Economics with Psychology (Including Placement Year)

Module description

Most economic problems involve choice under scarcity, a phenomenon which lends itself naturally to mathematical formulation. This module is an introduction to the mathematical methods most commonly used when analysing such problems. The methods include: optimisation with one or several variables; matrix algebra and the solution of systems of equations; integral calculus; comparative statics; constrained optimisation. The emphasis is on the expression of economic ideas and reasoning in simple mathematical language.

Module aims

The aim is to provide students with additional mathematical tools, enabling them to analyse a larger, richer, and more interesting set of economic models. Following a review and extension of the optimization techniques studied in EC115, the main focus of the module is on methods for studying further calculus and linear algebra techniques applied to economics.

Module learning outcomes

Students who successfully complete this module should possess the mathematical tools required to understand simple economic models, and a facility with the mathematical language necessary to read the modern literature in economics.

The objective of this course is to introduce the student to mathematical modelling in economics. A student who has successfully completed this course should possess the mathematical tools required to understand simple economic models and the facility with the mathematical language necessary to read modern literature in economics. The student should also demonstrate the ability to formulate and solve simple economic problems using appropriate mathematical techniques.

Module information



Compulsory for:
Year 2 students on BA in Economics, BSc in Economics, BA in Economics (European Exchange), BA in International Economics and BSc in International Economics, BA in Financial Economics, BSc in Financial Economics, BA in History and Economics

Learning and teaching methods

2 lectures and one class per week in one term.

Bibliography

  • Hoy, Michael. (c2011) Mathematics for economics, Cambridge, MA: MIT Press.

The above list is indicative of the essential reading for the course. The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students. Further reading can be obtained from this module's reading list.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Weighting
Coursework Test - Timetabled for 17 February 2019
Exam 120 minutes during Summer (Main Period) (Main)

Overall assessment

Whichever is the Greater: EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark OR 100 per cent Exam Mark IF Coursework Mark is a pass or better

Reassessment

Whichever is the Greater: EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark OR 100 per cent Exam Mark IF Coursework Mark is a pass or better

Module supervisor and teaching staff
Lecture: Mr Julian Costas Fernandez / Classes: various teachers
For further information, send an email message to ueco@essex.ac.uk.

 

Availability
Yes
Yes
No

External examiner

Dr Hui Pan
Coventry University
Senior Lecturer
Resources
Available via Moodle
Of 120 hours, 116 (96.7%) hours available to students:
4 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).

 

Further information
Economics

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