Numerical Methods in Economics
| Code | School | Level | Credits | Semesters |
| ECON3030 | Economics | 3 | 10 | Autumn UK |
- Code
- ECON3030
- School
- Economics
- Level
- 3
- Credits
- 10
- Semesters
- Autumn UK
Summary
The module aims to teach students a series of programming tools that are widely used by economists working not only in the academic world but also in the private and the public sectors. The first part of the module builds students’ programming skills from scratch, starting from software installation and programming essentials. It also covers modern version control tools like Git and Github and introduces students to dynamic notebooks like Jupyter Notebooks. The second part of the module focuses on numerical methods like numerical differentiation and integration, solving systems of non-linear equations, finite-dimensional optimization, and parallel programming. The third part of the module covers numerical methods applications to Economics and Finance problems.
Target Students
Available for final year Undergraduate students on Economics degree programmes (including final year students on the BA Jt Hons Politics and Economics and BSc Jt Hons Mathematics and Economics degrees). Not available for Exchange students.
Classes
This module is delivered through a combination of lectures, tutorials and computer classes.
Assessment
- 100% Coursework: Individual coursework
Assessed by end of autumn semester
Educational Aims
The specific aims of the module are as follows:To provide a detailed understanding of numerical methods used in Economics.To develop an ability to use software programming environment to apply the discussed methods to Economic problems.The module aims to enable the participants to develop:Professional communication: problem-solving and presentation in tutorials.Digital capabilities: understanding and interpreting software output.Learning Outcomes
By the end of the module, students should have enhanced their abilities in the following dimensions as detailed in the Programme Specification:
Knowledge and Understanding
A5: Show understanding of relevant mathematical and statistical techniques.
Intellectual Skills
B3 Be able to evaluate, analyse and present quantitative data.
Key/Transferable Skills
D1 Apply mathematical, statistical and graphical techniques in an appropriate manner.
D2 Communicate effectively and clearly in written and oral formats.
D3 Use appropriate IT packages effectively.
D5 Undertake independent study of a problem or subject.