Unit information: MRes Mathematics for Economics in 2021/22

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. Oliveros
Open unit status	Not open
Pre-requisites	None
Co-requisites	None
School/department	School of Economics
Faculty	Faculty of Social Sciences and Law

Description including Unit Aims

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 is on optimization techniques (first part) and dynamics (second part)

Intended Learning Outcomes

Modern Economic Theory and Research in Econometrics requires the use of some mathematical concepts. Underpinning all economics there are economic agents optimizing and interacting with other economic agents in the context of particular mathematical models. Upon successful completion of the course students will be able to

1. Apply tools of optimization and describe economic dynamic using differential equations and difference equations; recognize consistent and complete mathematical arguments; and identify when these arguments are flawed.
2. Calculate optimal plans, solve dynamics system, and analyse properties of the solutions obtained; manipulate mathematical expressions to construct formal arguments and proofs; and compare different ways of providing the same results.
3. Evaluate the results and predictions of the dynamic models in terms of the applicability to the particular economic problem; consider the proper scope of application of the tools studied during the course as well as their limitations, in order to adapt them to new problems.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Information

Timed assessment (85%) and Coursework (15%).

Resources

If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.

If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIMM0023).

How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours of study to complete. Your total learning time is made up of contact time, directed learning tasks, independent learning and assessment activity.

See the Faculty workload statement relating to this unit for more information.

Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit. The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates within the Regulations and Code of Practice for Taught Programmes.