Mathematics for Economists

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

Summative Assessment

AS1 - 15% / AS2 - 15% / EXAM - 70%

Suggested reading

Core Reading:

Chian, A.C. and K. Wainwright (2005) Fundamental Methods of Mathematical Economics, Fourth Edition. McGraw-Hill.

Additional Reading:

Jacques, I. (2009) Mathematics for Economics and Business, 5th Edition, Prentice Hall.

Wisniewski, M. (2003) Mathematics for Economics, 3rd Edition, Palgrave Macmillan.

Disclaimer

Important notice regarding changes to programmes and modules