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ES50103: Quantitative methods for economics

[Page last updated: 02 August 2022]

Academic Year: 2022/23
Owning Department/School: Department of Economics
Credits: 6 [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Masters UG & PG (FHEQ level 7)
Semester 2
Assessment Summary: CW 50%, EX 50%
Assessment Detail:
  • Coursework (CW 50%)
  • Exam (EX 50%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Learning Outcomes: At the end of the unit students will be expected to be able to:
a) understand the key properties of functions;
b) formulate and solve static optimisation problems;
c) formulate and solve dynamic optimisation problems;
d) use mathematical software to solve practical mathematical optimisation problems.

Aims: The unit aims to provide students with the essential mathematical skills needed to solve various types of optimisation problems in economics and to introduce them to software with which they can solve practical optimisation problems.

Skills: Abstraction and analytic skills (A)
Information gathering and Synthesis (A)
Use of Information Technology (F/A)
Time Management and Planning (A)
Numeracy Skills (T/A)

Content: Fundamentals: properties of functions, linear dependence, eigenvectors and eigenvalues
Static analysis: Envelope Theorem, Lagrangians, Kuhn-Tucker theory
Dynamic analysis: differential equations, dynamic programming.

Programme availability:

ES50103 is Compulsory on the following programmes:

Department of Economics


  • This unit catalogue is applicable for the 2022/23 academic year only. Students continuing their studies into 2023/24 and beyond should not assume that this unit will be available in future years in the format displayed here for 2022/23.
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