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ES10158: Mathematics for economics

[Page last updated: 04 August 2021]

Academic Year: 2021/2
Owning Department/School: Department of Economics
Credits: 6 [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Certificate (FHEQ level 4)
Semester 1
Assessment Summary: EX 100%
Assessment Detail:
  • Examination (EX 100%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
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.

* 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.

Programme availability:

ES10158 is Compulsory on the following programmes:

School of Management
  • UMMN-AFB02 : BSc(Hons) Accounting and Finance (Year 1)
  • UMMN-AKB02 : BSc(Hons) Accounting and Finance with Year long work placement (Year 1)


  • This unit catalogue is applicable for the 2021/22 academic year only. Students continuing their studies into 2022/23 and beyond should not assume that this unit will be available in future years in the format displayed here for 2021/22.
  • 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.
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