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Unit information: MRes Mathematics for Economics in 2016/17

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Unit name MRes Mathematics for Economics
Unit code EFIMM0023
Credit points 15
Level of study M/7
Teaching block(s) Teaching Block 1 (weeks 1 - 12)
Unit director Professor. Xiong
Open unit status Not open
Pre-requisites

None

Co-requisites

None

School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description

The unit aims to build in students the ability to know, understand, apply and evaluate the mathematical tools and methods needed in modern Economics. These skills constitute the base on which other units will build and will ultimately allow students to undertake novel research in their dissertation.

The focus in on Real Analysis and topics covered will include

- Basic topology - Numerical sequences and series - Continuity - Sequences and series of functions - Differentiation - Integration

Intended learning outcomes

Modern Economic and Econometrics theory requires mathematical skills and in particular the ability to understand mathematical arguments and provide proofs. Real Analysis provides a foundation for all of the mathematical methods used in Economics. The unit will familiarize students with formal arguments and proofs in Real Analysis so that students will be able to understand and evaluate the uses of these tools in economics as be able to apply these tools themselves. The students will also be able to understand the proper scope of application of these tools as well as their limitations.

Teaching details

There are two lectures and one exercise class per week. Coursework will consist of weekly exercises which will be used for course assessment.

Lectures will introduce and explain the different methods as well as their application and limitation whereas exercise classes will provide the opportunity to practice the selection and use of these methods

Contact Hours Per Week 3

Student Input

20 hours lectures

10 hours tutorials

15 hours preparation of weekly exercises for assessment

3 hours final exam

102 hours individual study

Assessment Details

Summative assessment: 3-hour written exam (85%), weekly exercises on the various topics (15%). The exam will test the knowledge, selection, application and evaluation of tools and methods, whereas the exercises will incentivize the students to learn to use, apply and evaluate these methods while getting feedback on their progress.

Formative assessment: class participation and discussion in tutorials. These will provide further opportunities for feedback on the students’ progress.

Reading and References

Rudin, W. Principles of Mathematical Analysis (Third Ed), McGraw-Hill

Kolmogorov A.N. and Fomin S.V. Introductory Real Analysis (New Edition), Dover.

Marsden J.E. and Hoffman M.J. Elementary Classical Analysis (Second Ed), W.H. Freeman

Pugh, C. C. Real Mathematical Analysis (First Ed.) Springer-Verlag

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