Mathematics for Economists

• Credit value: 30 credits at Level 6
• Convenor: Tony Humm
• Assessment: mid-term test in the last lecture of autumn term (20%) and a final examination (80%)

This module will provide you with sufficient working knowledge of the mathematics employed in other courses on the Graduate Diploma and will provide a basis for the mathematics required for the MSc. It will encourage you to understand the benefits of using mathematical vocabulary and reasoning to analyse economic and financial models.

Indicative module content

• Basic algebra revision: numbers; solving equations; exponents; functions; graphs
• Differential calculus: slopes; ordinary derivatives; higher-order derivatives; optimisation; partials; Log, exponential and inverse functions; differentials; total derivatives
• Optimisation: multivariable optimisation; equality-constrained optimisation; Lagrangeans; applications to consumer theory and producer theory
• Linear algebra: vectors; matrices; determinants; adjoints; inverses; solving equation systems; Cramer’s rule