Department of Economics, Unit Catalogue 2011/12 

Credits:  6 
Level:  Certificate (FHEQ level 4) 
Period: 
Semester 1 
Assessment:  EX 70%, OT 30% 
Supplementary Assessment:  ES10005 Resit Exam (where allowed by programme regulations) 
Requisites:  In order to take this unit you must have A level Mathematics (or equivalent). Single honours students must take ES10006 whilst taking this unit. 
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 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. * Integration: indefinite integration as the reverse of differentiation. Definite integration and the area under a curve. * 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. Key texts: A.C. Chiang Fundamental Methods of Mathematical Economics I. Jacques Mathematics for Economics and Business. 
Programme availability: 
ES10005 is Compulsory on the following programmes:Department of Economics
