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ES50103: Quantitative methods for economics

[Page last updated: 15 October 2020]

Follow this link for further information on academic years Academic Year: 2020/1
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 100%
Further information on unit assessment Assessment Detail:
  • Coursework 1 (CW 50%)
  • Coursework 2 (CW 50%)
Further information on supplementary assessment Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites:
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.

Skills:
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)

Content:
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

Notes:

  • This unit catalogue is applicable for the 2020/21 academic year only. Students continuing their studies into 2021/22 and beyond should not assume that this unit will be available in future years in the format displayed here for 2020/21.
  • Programmes and units are subject to change 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.
  • Find out more about these and other important University terms and conditions here.