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ES10006: Core skills for economists: mathematics 2

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: Certificate (FHEQ level 4)
Further information on teaching periods Period:
Semester 2
Further information on unit assessment Assessment Summary: EX-OB 80%, MC 20%*
Further information on unit assessment Assessment Detail:
  • 2 hour online multiple choice test* (MC 20%)
  • Open book, 72 or more hours take-home exam* (EX-OB 80%)

*Assessment updated due to Covid-19 disruptions
Further information on supplementary assessment Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites: Before taking this module you must take ES10005
Further information on descriptions Description: Aims:
To extend students' knowledge and understanding of mathematics and the use of mathematical techniques in economic analysis, begun in ES10005. 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 below.

Content:

* Integration: indefinite integration as the reverse of differentiation. Definite integration and the area under a curve.
* Circular functions: cycles, circles and trigonometry; calculus with circular functions; Cartesian and polar coordinates.
* Complex Numbers: the complex number system; Euler's relation; De Moivre's theorem; complex exponentials and polynomials.
* Differential Equations: first order linear differential equations with constant coefficient and constant term, dynamics of market price; second order differential equations with constant coefficient and constant term, market model with price expectations.
* Difference Equations: discrete time, differences; first order difference equations, dynamic stability of equilibrium, the Cobweb model; second order linear difference equations; Samuelson multiplier acceleration interaction model.
* Eigenvalues and Eigenvectors: the concept of diagonalisable matrices, calculation of the characteristic polynomial, eigenvalues of symmetric matrices.
* Simultaneous Differential and Difference Equations: systems of difference and differential equations; solving simultaneous dynamic equations; phase diagrams.
Further information on programme availabilityProgramme availability:

ES10006 is Compulsory on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc(Hons) Economics (Year 1)
  • UHES-AAB03 : BSc(Hons) Economics with Study year abroad (Year 1)
  • UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 1)
  • UHES-ACB03 : BSc(Hons) Economics with Combined Placement and Study Abroad (Year 1)

ES10006 is Optional on the following programmes:

Department of Economics
  • UHES-AFB01 : BSc(Hons) Economics and Politics (Year 1)
  • UHES-AAB01 : BSc(Hons) Economics and Politics with Study year abroad (Year 1)
  • UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (Year 1)
  • UHES-ACB01 : BSc(Hons) Economics and Politics with Combined Placement and Study Abroad (Year 1)

Notes: