Level:Postgraduate (Doctorate level)
Course Convenor:Professor I Walker
back to top
Curriculum Design: Outline Syllabusback to top
1) Concavity and static optimisation.
2) Dynamic analysis: continuous dynamic systems, discrete dynamic systems, continuous and discrete system of equations.Dynamic programming.
Curriculum Design: Pre-requisites/Co-requisites/Exclusionsback to top
Educational Aims: Subject Specific: Knowledge, Understanding and Skillsback to top
Economic problems are often addressed using mathematical models, which are to be specified, analysed and then tested using real-world data. This course aims to integrate mathematical methods and economic theory to provide students with the knowledge, understanding and skills required to set up and solve models as a means of analysing economic problems. This course aims to equip the students with the toolkit of mathematical methods required for a thorough understanding of the applied and theoretical micro, macroeconomics and econometrics courses.
On successful completion of this module, students should have a knowledge and understanding of:
· Analytical methods, in particular model-based ones· The interpretation of the results derived from the modelling process in the context of economic problems and phenomena and their use in the decision making process.
Educational Aims: General: Knowledge, Understanding and Skillsback to top
By the end of this module, students will have enhanced their knowledge of how to specify economic problems in the confines of a mathematical model in a structured manner capable of solution and to solve those problems using appropriate mathematical techniques. The course aims to enhance their ability for logical and structured problem analysis
Learning Outcomes: Subject Specific: Knowledge, Understanding and Skillsback to top
On successful completion of this module students will have acquired:
· Mathematical methods that have become indispensable for a proper understanding of the current economic literature.
· The following mathematical methods (matrix algebra, differential and integral calculus, differential equations) applied to the following types of economic analysis: statics, comparative statics, optimisation problems, dynamics and dynamic optimisation.
· Facility in the application of mathematical methods to analyse the behaviour of economic agents and the interactions within the economic system.
· The ability to interpret the results of the mathematical modelling process in the context of economic problems.
Learning Outcomes: General: Knowledge, Understanding and Skillsback to top
On successful completion of this module students will be able to...
Engage in abstract thinking by extracting the essential features of complex systems to facilitate problem solving and decision-making.
· Be able to handle algebraic manipulations and optimisation problems.
· Engage in deductive and inductive reasoning to enhance problem-solving and decision-making skills.
· Apply appropriate mathematical techniques to the analysis of both micro and macroeconomic phenomena.
· Plan and manage their time effectively.
· Demonstrate a logical argument, analyse and interpret data and evaluate alternative perspectives on the basis of objective reasoning.· Think in marginal terms about the trade-offs involved in public policy and business decision-making
Assessment: Details of Assessmentback to top
There will be a two hour exam in January with one compulsory question on the mathematica section and one hour to answer one question from four on the rest of the course material. This exam will have a 60% weight. There will also be a coursework assignment during the winter holiday, that would cover the non-mathematica parts of the course, with a weight of 40%.
Curriculum Design: Select Bibliographyback to top
Chiang, A. & K. Wainwright (2000),Fundamental Methods of Mathematical Economics, 4thed., McGraw Hill.
Knut Sydsaeter, Peter Hammond (2008),Further Mathematics for Economic Analysis, 2/E, Pearson.
C. Simon, L. Blume (194), Mathematics for Economists. Norton
Curriculum Design: Single, Combined or Consortial Schemes to which the Module Contributesback to top
Compulsory course for the PhD/MPhil Economics