23565 Mathematics for Economics and Business
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Subject handbook information prior to 2015 is available in the Archives.
Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksRequisite(s): 23115 Economics for Business OR 25115 Economics for Business
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Anti-requisite(s): 25565 Fundamentals of Mathematical Economics
Description
This subject introduces students to a range of mathematical techniques used widely in economics and stresses the importance of understanding the logic of these techniques and the kinds of economic problems to which they can be applied. The subject enables students to analyse a number of economic problems from a mathematical perspective and to incorporate this analysis within a wider understanding of these problems.
Subject objectives
| 1. | explain and execute a set of fundamental mathematical techniques used widely in economic analysis |
|---|---|
| 2. | apply these fundamental mathematical techniques to a range of economic problems |
| 3. | use the results obtained from the application of mathematical techniques to inform their analysis and discussion of a range of economic problems. |
Contribution to the development of graduate attributes
This subject introduces students to a set of mathematical techniques used widely in intermediate and advanced economics subjects. It will enhance students’ ability to understand core economic problems by equipping them with a range of additional technical tools and will improve their ability to analyse and solve these problems.
Content
• Optimization techniques.
• Concavity and convexity of functions.
• Using matrices in economics.
• Introduction to dynamical systems.
• Simulation techniques.
Assessment
Assessment task 1: Tutorial Assignments (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 3 |
|---|---|
| Weight: | 30% |
| Length: | 20 minutes for each quiz. |
Assessment task 2: Mid-semester Exam (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 3 |
|---|---|
| Weight: | 20% |
| Length: | 2 hours (+10 minutes of reading time) |
Assessment task 3: Final examination (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 3 |
|---|---|
| Weight: | 50% |
| Length: | 3 hours (+10 minutes of reading time) |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Ian Jacques, Mathematics for Economics and Business, 7th edition, Pearson, 2013.
Other resources
The Khan Academy (http://www.khanacademy.org/, registration is required) provides plenty of video tutorials on different topics in mathematics as well as economics. For every topic discussed in our course you could find several excellent presentations which explain and illustrate the notions and techniques.
The Khan Academy is highly recommended for everybody who encounters difficulties with digesting certain parts of the course material. Just enter the problematic topic (e.g., Implicit Differentiation) into the search...
