Mathematical Economics - EC585

Location Term Level Credits (ECTS) Current Convenor 2019-20
Canterbury Autumn
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5 15 (7.5) DR M Satchithananthan

Pre-requisites

EC304 Principles of Economics (or equivalent)
EC305/EC306 Mathematics for Economics Mode A/B
ECON3090 Statistics for Economics (or equivalent)

Restrictions

60% threshold in EC305 or EC306 Mathematics for Economics Mode A or B

2019-20

Overview

The module will introduce students to a range of mathematical techniques, which are useful in economic analysis. The aim is to deepen and extend the mathematical preparation of undergraduate students considering technical modules at Stage 3. Emphasis will be placed on a clear and rigorous presentation of the various technical concepts and their applications. The module will cover a range of relevant mathematical tools and techniques that are typically required for postgraduate study in economics.

Topics include:
• Matrix Algebra and Multiple Equation Systems
• Optimisation Theory
• Duality
• Dynamic Models

Details

Contact hours

20 lectures
9 seminars

Availability

This module is an elective for all Single and Joint Honours degree programmes in Economics.
This module is not available to students across other degree programmes in the University.

Method of assessment

In Course Test 1, (45 minutes) (10%)
In Course Test 2, (45 minutes) (10%)
Examination (2 hours) (80%)

Indicative reading

Renshaw, G. (2016) Maths for Economics, 4th edition, OUP.
Chiang, A.C. & Wainwright, K. (2005) Fundamental Methods of Mathematical Economics, 4th edition, McGraw-Hill.

See the library reading list for this module (Canterbury)

Learning outcomes

By the end of this module you will be able to:

* demonstrate the ability to work with abstract mathematical concepts.
* understand the mathematical aspects of economic modelling techniques.
* formulate and solve problems in economics using a range of mathematical techniques.
* identify the range of more advanced mathematical modelling used in economics.
* use optimisation methodologies and matrix algebra.

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