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![]() | 2016/7 |
![]() | Department of Economics |
![]() | 6 [equivalent to 12 CATS credits] |
![]() | 120 |
![]() | Certificate (FHEQ level 4) |
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![]() | EX 100% |
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![]() | 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 in the Content section 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. * 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. |
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ES10005 is Compulsory on the following programmes:Department of Economics
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Notes:
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