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Programme & Unit Catalogues

ES10005: Core skills for economists: mathematics 1

Owning Department/School: Department of Economics
Credits: 6
Level: Certificate (FHEQ level 4)
Period: Semester 1
Assessment Summary: EX 100%
Assessment Detail:
• Exam (EX 100% - Qualifying Mark: 35)
Supplementary Assessment: ES10005 Resit Exam (where allowed by programme regulations)
Requisites:
Description: Aims:
To provide students with knowledge of areas of mathematics that are relevant to undergraduate economics and to prepare them for more advanced units in economics and econometrics.

Learning Outcomes:
By the end of the course unit, students should be able to understand key mathematical concepts, solve mathematical problems, and apply mathematics to economic problems.

Skills:
Students will develop mathematical skills, specifically as listed in the Content section below.

Content:

* Differentiation: differentiation of functions of one variable: rules of differentiation, stationary points, higher order derivatives, concavity and convexity, point of inflection, differentiation of exponential and logarithmic functions, concepts of marginals and elasticities, single variable optimization problems.
* Partial Differentiation: differentiation of functions of more than one variable; higher order partial derivatives, total differentials, implicit differentiation, homogeneous functions and Euler's theorem, concepts of marginals and elasticities.
* Matrices: matrix operations; determinants; matrix inversion; solution of system of linear equations by matrix inversion; Cramer's rule; quadratic forms: definiteness, characteristic root and characteristic vector.
* Concavity and convexity of functions of more than one variable; unconstrained and constrained optimization problems involving more than one variable.
Indicative textbook: Pemberton, M. and N. Rau, Mathematics for Economists. Manchester University Press 2011 (and earlier editions).
Programme availability:

ES10005 is Compulsory on the following programmes:

Department of Economics
• UHES-AFB03 : BSc(Hons) Economics (Year 1)
• UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 1)
• UHES-AFB01 : BSc(Hons) Economics and Politics (Year 1)
• UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (Year 1)
School of Management
• UMMN-AFB02 : BSc(Hons) Accounting and Finance (Year 1)
• UMMN-AKB02 : BSc(Hons) Accounting and Finance with Year long work placement (Year 1)

Notes:
* This unit catalogue is applicable for the 2015/16 academic year only. Students continuing their studies into 2016/17 and beyond should not assume that this unit will be available in future years in the format displayed here for 2015/16.
* Programmes and units are subject to change at any time, in accordance with normal University procedures.
* Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.