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ES50103: Quantitative methods for economics

Follow this link for further information on academic years Academic Year: 2019/0
Further information on owning departmentsOwning Department/School: Department of Economics
Further information on credits Credits: 6      [equivalent to 12 CATS credits]
Further information on notional study hours Notional Study Hours: 120
Further information on unit levels Level: Masters UG & PG (FHEQ level 7)
Further information on teaching periods Period:
Semester 2
Further information on unit assessment Assessment Summary: CW 50%, EX-TH 50%*
Further information on unit assessment Assessment Detail:
  • Coursework* (CW 50%)
  • Open book, 72 hour take-home exam* (EX-TH 50%)

*Assessment updated due to Covid-19 disruptions
Further information on supplementary assessment Supplementary Assessment:
ES50103 Reassessment (where allowed by programme regulations)
Further information on requisites Requisites:
Further information on descriptions Description: Aims:
The unit aims to provide students with the essential mathematical skills needed to solve various types of optimisation problems in economics and to introduce them to software with which they can solve practical optimisation problems.

Learning Outcomes:
At the end of the unit students will be expected to be able to:
a) understand the key properties of functions;
b) formulate and solve static optimisation problems;
c) formulate and solve dynamic optimisation problems;
d) use mathematical software to solve practical mathematical optimisation problems.

Abstraction and analytic skills (A)
Information gathering and Synthesis (A)
Use of Information Technology (F/A)
Time Management and Planning (A)
Numeracy Skills (T/A)

Fundamentals: properties of functions, linear dependence, eigenvectors and eigenvalues
Static analysis: Envelope Theorem, Lagrangians, Kuhn-Tucker theory
Dynamic analysis: differential equations, dynamic programming.
Further information on programme availabilityProgramme availability:

ES50103 is Compulsory on the following programmes:

Department of Economics