Quantitative Methods
| Code | School | Level | Credits | Semesters |
| ECON1047 | Economics | 1 | 20 | Full Year UK |
- Code
- ECON1047
- School
- Economics
- Level
- 1
- Credits
- 20
- Semesters
- Full Year UK
Summary
The first half of the module provides an introduction to the mathematical methods required for economic modelling, focusing on mathematical finance, analysis of functions, supply and demand, differentiation and optimisation. The second half introduces the statistical methods and concepts most applicable in Economics, building towards the study of regression analysis, which is often applied by economists in studying relationships among variables.
Target Students
Available to Year 1 Undergraduate students on Economics degree programmes studying ECON1043 Foundations of Economics or ECON1022 Foundations of Microeconomics. Also available to BA Jt Hons Politics and Economics students. This module cannot be taken with ECON1044 Mathematical Economics and Econometrics or ECON1045 Quantitative Economics or ECON1046 Mathematical Economics and Statistical Methods.
Co-requisites
Modules you must take in the same academic year, or have taken in a previous year, to enrol in this module:
- 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
- 50% Exam 1 (1-hour): Exam (Autumn)
- 50% Exam 2 (1-hour): Exam (Spring)
Assessed in both autumn & spring semest
Educational Aims
The main aims of this module are:To provide a basis in the fundamentals of Mathematics most relevant to the study of Economics.To allow students to see how mathematical tools can be applied in the analysis of theoretical economic problems.To introduce fundamental statistical concepts.To introduce the ideas behind regression analysis through simple linear regression.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.