Mathematical Methods in Economic Analysis

ECON60081 Mathematical Methods in Economic Analysis 15 Semester 1 Postgraduate Taught Level 6 Horst Zank Unit coordinator 1 FHEQ level (Framework for Higher Education Qualifications) ' Masters/Integrated Masters P4 ' European Credit Transfer & Accumulation System Rating : 7.5 <div>The aims of this course are to: (i) provide students with some understanding of the most important mathematical techniques used in modern economics; (ii) illustrate the use of these techniques by applying them to various well-known economic models; (iii) complement the core postgraduate microeconomic and macroeconomic theory courses.   </div>  The aims of this course are to: (i) provide students with some understanding of the most important mathematical techniques used in modern economics; (ii) illustrate the use of these techniques by applying them to various well-known economic models; (iii) complement the core postgraduate microeconomic and macroeconomic theory courses. <div> <span lang="EN-US" style="font-size: 10pt; font-family: "Arial", "sans-serif"; letter-spacing: -0.15pt; mso-fareast-font-family: "Times New Roman"; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">The aims of this course are to: <span lang="EN-US" style="font-size: 10pt; font-family: "Arial", "sans-serif"; letter-spacing: -0.15pt; mso-fareast-font-family: "Times New Roman"; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">(i) provide students with some understanding of the most important mathematical techniques used in modern economics; <span lang="EN-US" style="font-size: 10pt; font-family: "Arial", "sans-serif"; letter-spacing: -0.15pt; mso-fareast-font-family: "Times New Roman"; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">(ii) illustrate the use of these techniques by applying them to various well-known economic models; <span lang="EN-US" style="font-size: 10pt; font-family: "Arial", "sans-serif"; letter-spacing: -0.15pt; mso-fareast-font-family: "Times New Roman"; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">(iii) complement the core postgraduate microeconomic and macroeconomic theory courses</div>   <div> At the end of this course students should be able to: (i) demonstrate a good understanding of static optimization techniques and dynamic systems applicable to economics; (ii) demonstrate the skills needed to understand theoretical models in economics..</div>   <table class="Table" style="border-collapse:collapse; border:undefined"> <tbody> <tr> <td style="width:12.0cm; padding:0cm 5.4pt 0cm 5.4pt" valign="top" width="354">You should have attended our pre-session maths course, or be familiar with its material (particularly uni- and multi-variate calculus, basic optimization theory, matrices and determinants) from your earlier training. Such material is a pre-requisite for ECON60081. </td> </tr> </tbody></table> The subject matter can be divided into 2 parts.Part I: Linear Algebra, Sets, Preferences, Functions, Concavity, Static OptimizationPart II: Dynamic Systems and Dynamic Optimisation Lectures and Exercise Classes. 0 Other 40% 1 Written exam 60% <div> Introduction to Quantitative Methods: 10%</div><div> Interim Test 1: 15%</div><div> Interim Test 2: 15%</div><div> January exam: 60%</div> ECON60901 Introduction to Quantitative Methods in Economics Pre-Requisite Compulsory ECON60901 is a Co-Requisite for ECON60081 MSc Economics MSc Economics PGDT Taught Component Mandatory MSc Financial Economics MSc Financial Economics PGDT Taught Component Mandatory Y There is no single book that is referred to enough to warrant a recommendation for purchase; but thehighlighted texts are referred to in the lecture notes.H.S. Bierman and L. Fernandez, Game Theory with Economic Applications, Addison-Wesley, 1998.O.J. Blanchard and S. Fischer, Lectures on Macroeconomics, MIT, 1989.A.C. Chiang, Elements of Dynamic Optimisation, McGraw-Hill, 1992.H. Gravelle and R. Rees, Microeconomics, Longman, 1992.G.A. Jehle and P.J. Reny, Advanced Microeconomic Theory, Addison-Wesley, 2011.D.Leonard and N. Van Long, Optimal Control Theory and Static Optimisation in Economics, CUP, 1992L. Ljungqvist and T.J. Sargent, Recursive Macroeconomic Theory, MIT Press, 2000.P.J. Madden, Concavity and Optimisation in Microeconomics, Basil Blackwell, 1986.A. Mas-Colell, M. Whinston, J. Green, Microeconomic Theory, MIT Press, 1995.J.T. Sandefur, Discrete Dynamical Systems: Theory and Applications, Clarendon Press, 1990.R. Shone, Economic Dynamics, CUP, 1997.N.L. Stokey and R.E. Lucas, Jr, Recursive Methods in Economic Dynamics, Harvard University Press, 1989.K. Sydsæter, P. Hammond, A. Seierstad, A. Strøm: Further Mathematics for Economic Analysis, PrenticeHall, 2008. <div>  </div> <div>  </div> <div>  </div> <div>  </div> Lectures 18 Tutorials 16 0 116