Mathematical and Statistical Methods
Module Code: EC204B
Module Title: Mathematical and Statistical Methods
(NB Students may take only one of EC2040 and ST2930)
- ECTS Weighting: 5
- Semester/Term Taught: Michaelmas Term
- Contact Hours: 22 hours of lectures and 10 hours of tutorials
- Module Personnel: Lecturer - Andrea Guariso
Having successfully completed this module, you will be able to:
- Explain and apply mathematical terminology.
- Solve problems related to mathematical optimization and applications.
- Formulate economic problems in the language and abstractions of mathematics.
Satisfactory completion of this module will contribute to the development of the following key skills:
- Abstraction from concrete problems to generic concepts.
- Problem-solving using quantitative methods.
Module Learning Aims
This module will develop the calculus (differentiation and integration) from the JF Maths module, with increased depth of coverage and further applications. The aim of the module is to consolidate and develop skills developed in JF Mathematics so as to provide a solid basis for any calculus you might meet in the Sophister years.
- Analysis of convexity and concavity.
- Optimisation of multivariate functions.
- Constrained optimisation.
- Applications in consumer theory, producer theory, labor supply and macroeconomics.
Recommended Reading List
Alpha C. Chiang and Kevin Wainwright, Fundamental Methods of Mathematical Economics, McGraw-Hill, 4th Edition, 2005.
Weekly problem sets worth 40% of the overall grade and a take home test worth 60% of the overall grade.