The module explains a number of mathematical concepts and techniques which are fundamental to an understanding of modern economic theory. The topics covered include differential calculus, optimisation theory, convexity, sufficiency Theorems for optimality, differential equations and phase diagrams, optimal control theory and an introduction to dynamic programming.
The module provides students with the essential mathematical skills appropriate for Masters level modules in Economics. The focus is mainly on improving a student's problem solving skills, many applied economic examples are considered, both within lectures and in problem sets. By the end of the course, students should not only have a good understanding of optimisation theory, but also understand formally how economic arguments work and the role of equilibrium. Students are encouraged to work with each other when attempting the problem sets. The test will allow students to demonstrate their problem solving skills to solve real economic problems. Key employability skills include improved numeracy and analytic talents.
Feedback for this module will occur through class meetings where we will go over the answers to problem sets and where you will be able to ask questions about your own method of solution; answers that will be posted on the website for the module that will give you written guidance on the appropriate method to approach the problems, assignments, and tests; and office hours where any additional questions can be addressed. You should be sure that you use these methods to understand how to improve your own performance.
- Module Supervisor: Melvyn Coles