Mathematics for Economists

Module Code:

153401008

Credits:

15

FHEQ Level:

5

Year of study:

Year 1 or Year 2

Taught in:

Term 1

This module offers a survey of applied mathematical analysis useful for intermediate and advanced economic theory.

Prerequisites

Prerequisites: A level Mathematics with C and above or equivalent OR Introductory Mathematics for Economists II 155901502

Objectives and learning outcomes of the module

• demonstrate understanding of derivatives, rules of differentiation, partial derivatives, differentials and total differentials, higher order derivatives, their uses and applications.
• find unconstrained and constrained optima for multivariate functions and use these techniques to solve problems in economics.
• understand indefinite integrals and apply them to economic problems.
• understand differential equations and difference equations and apply them to economic problems
• apply matrix and vector operations.
• solve systems of equations using matrix algebra.
• use Jacobian determinants to test for functional dependence

Scope and syllabus

1. Derivatives

2. Multivariable Optimisation

3. Multivariable Constrained optimisation

4. Integration

5.-6. Differential equations

7.-9. Matrix algebra

10. Hessian and bordered hessian

Method of assessment

Formative Assessment: 

Weekly online quizzes accessible via Moodle and weekly tutorial exercises solved in small tutorial groups

Assessment weighting: Exam paper (80%), mid-term assignment (10%), end of term assignment (10%)

Suggested reading

Disclaimer