Accessibility statement

Mathematics for Economists - ECO00020C

« Back to module search

• Department: Economics and Related Studies
• Credit value: 20 credits
• Credit level: C
• Academic year of delivery: 2023-24
• See module specification for other years: 2024-25

Module summary

This module introduces key topics and methods in mathematics that are relevant to the study of economics.

Module will run

Occurrence Teaching period
A Semester 1 2023-24

Module aims

To introduce some of the ways in which mathematics is used in the study of economics, and to ensure sufficient grounding for the mathematical aspects of core economics modules in Stages 2-3.

Module learning outcomes

Familiarity with and understanding of the main mathematical techniques used in economics and their typical applications.

Module content

• Set theory and logic

• Sequences

• Difference equations

• Geometric progressions

• Discounting and present value

• Continuous growth

• Convergence and oscillation

• Linear algebra

• Vector and matrix operations

• Solving systems of linear equations using Gaussian elimination and inverses

• Linear independence

• Linear transformations

• Determinants

• Eigenvalues and eigenvectors

• Optimisation

• Quadratic forms, definiteness and convexity

• Extreme points and stationarity

• Unconstrained optimisation

• Constrained optimisation with multiple equality and inequality constraints (Kuhn-Tucker)

• Additional topics required for 2nd and 3rd year modules

Indicative assessment

Closed/in-person Exam (Centrally scheduled) 100

Special assessment rules

None

1 formative assessment due in Week 10. It consists of a problem set to which students must submit solutions. The problems will be designed in a way that prepares students for the exam.

Indicative reassessment

Closed/in-person Exam (Centrally scheduled) 100

Module feedback

The students will receive marks on the summative assessment.

They will also be provided with a mark breakdown on the summative exam and worked solutions. Students will be provided with problem sets which they can use to evaluate how well they have understood the materials. There will also be a formative assessment where students will submit solutions to a problem set and receive feedback.