Mathematical Economics and Econometrics
| Code | School | Level | Credits | Semesters |
| ECON1044 | Economics | 1 | 30 | Full Year UK |
- Code
- ECON1044
- School
- Economics
- Level
- 1
- Credits
- 30
- Semesters
- Full Year UK
Summary
The first half of the module provides an introduction to the mathematical methods required for economic modelling, focusing on linear algebra, optimization and their role in formulating and solving economic problems. The second half introduces the statistical methods required for data analysis in Economics. We concentrate on statistical distribution theory and statistical inference before applying these concepts to the study of the linear regression model, whose extensions will be analysed in detail in subsequent Econometrics modules.
Target Students
Available to Year 1 Undergraduate students on Economics degree programmes, including Year 1 BA Jt Hons Politics and Economics students. This module cannot be taken with ECON1045 Quantitative Economics or ECON1046 Mathematical Economics and Statistical Methods or ECON1047 Quantitative Methods.
Co-requisites
Modules you must take in the same academic year, or have taken in a previous year, to enrol in this module:
- Introduction to Microeconomics (ECON1001)
- Foundations of Microeconomics: Choice, Markets and Welfare (ECON1022)
- Foundations of Economics (ECON1043)
Classes
This module is delivered through a series of lectures and tutorials.
Assessment
- 20% Online Exam 1: Exam (Autumn, 1 hour)
- 20% Online Exam 2: Exam (Spring, 1 hour)
- 30% Written Exam 1 (1-hour): Exam (Autumn)
- 30% Written Exam 2 (1-hour): Exam (Spring)
Assessed in both autumn & spring semest
Educational Aims
The main aims of this module are:To provide a sound basis in the fundamentals of mathematical methods used in economics.To develop the ability to represent economic problems as mathematical problems and to solve them.To provide a sound basis in statistical theory, appropriate to the subsequent study of econometrics.To introduce the principles of regression analysis, on which much of the subsequent study of econometrics is based.This module helps students to apply mathematical, statistical and graphical techniques in an appropriate manner.Learning Outcomes
The specific learning outcomes that apply to this module are:
- A4 Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them
- A5 Show understanding of relevant mathematical and statistical techniques
- B1 Work with abstract concepts and in a context of generality
- B2 Reason logically and work analytically
- C2 Understand the sources and content of economic data and evidence, as well as appropriate methods of analysis
- C4 Use appropriate IT packages effectively
- D1 Apply mathematical, statistical and graphical techniques in an appropriate manner.