## 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)
Period:
Semester 1
Assessment Summary: EX 100%
Assessment Detail:
• Examination (EX 100%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
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.

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)

 Notes: 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. Find out more about these and other important University terms and conditions here.