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Unit information: Mathematical and Statistical Methods 2 in 2018/19

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Unit name Mathematical and Statistical Methods 2
Unit code EFIM10009
Credit points 20
Level of study C/4
Teaching block(s) Teaching Block 2 (weeks 13 - 24)
Unit director Dr. Proud
Open unit status Not open

Mathematical and Statistical Methods 1



School/department School of Economics, Finance and Management
Faculty Faculty of Social Sciences and Law


This unit introduces and develops mathematical and statistical techniques used extensively in economics and finance. It covers topics such as matrices, dynamic systems, integration, OLS, diagnostic testing.

Intended learning outcomes

Students will be able to:

1. Express economic problems in formal mathematical notation.

2. Perform simple matrix algebra and manipulations on matrices such as finding determinants, inverses and rank.

3. Demonstrate an awareness of what constitutes a logical exposition or argument.

4. Use the various mathematical techniques discussed in the unit to analyse economic problems.

5. Demonstrate an understanding of multiple regression, hypothesis testing and some problems such as omitted variables bias.

Teaching details

36 hours of lectures

9 hours of classes

Assessment Details

Summative assessment:

2.5-hour examination at the end of the relevant teaching block worth 100%. This tests all the learning outcomes.

Formative Assessment:

Students will submit two assignments. These assignments will be problem-based, and will consist of questions based on the course material. In addition, students will be expected to complete regular problem sets in advance of classes.

Reading and References

Sydsaester, K. and Hammond, P., Essential Mathematics for Economic Analysis, Prenctice Hall.

Stock J. and Watson M. (2007) Introduction to Econometrics 3rd edition Pearson Education, New York

Gujarati D. and D. Porter (2010) Essentials of Econometrics (4th Edition) McGraw Hill Irwin