Introductory Mathematics for Economists II

This is an introductory module for first or second year students with no A levels mathematics that have undertaken Introductory Mathematics for Economics I. The module includes topics such as: differentiation and unconstrained and constrained optimization, and integration.

Objectives and learning outcomes of the module

Upon successful completion of this module a student will be able to:

• Understand differentiation and higher order derivatives for univariate functions
• Understand partial derivatives and total differentials for multivariate functions
• Demonstrate understanding of and ability to explain the economic applications of differentiation, and use it to formulate economic problems, including elasticities, marginal cost and benefit, marginal product of labour and capital, marginal utilities
• Find unconstrained optima of functions with one or more choice variables
• Find constrained optima using the Lagrange multiplier and substitution methods
• Solve definite and improper integrals and understand their application in economics
• Understand and use these techniques to solve problems in economics, such as profit maximisation, cost minimisation, utility optimisation, or consumer and producer surplus

Method of assessment

TS1 - 40% / EXAM - 60%

Suggested reading

TBC

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