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ES10005: Core skills for economists: mathematics 1

Follow this link for further information on academic years Academic Year: 2013/4
Further information on owning departmentsOwning Department/School: Department of Economics
Further information on credits Credits: 6
Further information on unit levels Level: Certificate (FHEQ level 4)
Further information on teaching periods Period: Semester 1
Further information on unit assessment Assessment: EX 70%, OT 30%
Further information on supplementary assessment Supplementary Assessment: ES10005 Resit Exam (where allowed by programme regulations)
Further information on requisites 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.
Further information on descriptions 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.

Students will develop mathematical skills, specifically as listed below.


* 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.
Further information on programme availabilityProgramme availability:

ES10005 is Compulsory on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc (hons) Economics (Full-time) - Year 1
  • UHES-AKB03 : BSc (hons) Economics (Full-time with Thick Sandwich Placement) - Year 1
  • UHES-AFB02 : BSc (hons) Economics and International Development (Full-time) - Year 1
  • UHES-AKB02 : BSc (hons) Economics and International Development (Full-time with Thick Sandwich Placement) - Year 1
  • UHES-AFB01 : BSc (hons) Economics and Politics (Full-time) - Year 1
  • UHES-AKB01 : BSc (hons) Economics and Politics (Full-time with Thick Sandwich Placement) - Year 1
School of Management
  • UMMN-AFB02 : BSc (hons) Accounting and Finance (Full-time) - Year 1
  • UMMN-AKB02 : BSc (hons) Accounting and Finance (Full-time with Thick Sandwich Placement) - Year 1

* This unit catalogue is applicable for the 2013/4 academic year only. Students continuing their studies into 2014/15 and beyond should not assume that this unit will be available in future years in the format displayed here for 2013/14.
* 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.