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| Module Availability |
| Autumn |
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module
Mark (%)
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| Multiple choice test |
20
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| Take home assignment |
40
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| Coursework test |
40
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Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module |
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| Module Overview |
| The module provides an introduction to linear algebra and considers a variety of applications of matrices of relevance to economics |
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| Prerequisites/Co-requisites |
| None |
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| Module Aims |
| The module aims to provide students with an apprciation of the variety of applications of simple matrix algebra in economics and other social sciences, and to develop confidence in applying those methods with the use of spreadsheets |
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| Learning Outcomes |
By the end of the module the student will:-
- understand and be familiar with simple vector and matrix notation and basic matrix operations
- be able to solve a set of simultaneous linear equations
- be able to manipulate matrices using computer spreadsheets
- understand some important applications of matix algebra in economics
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| Module Content |
The following formal methods will be addressed:-
- matix algebra: vectors and matrices: matrix operations: subtraction, multiplicatino, inversion; notation; graphical interpretation
- solutions to a set of linear equations
The following indicate possible applications
- representation of simple economic moduls in matrix form
- applications of Markov processes to questions of economic mobility and demographics
- data analysis using suply-use and input-output tables in the context of the UK
- economic modelling using input-output analysis
- international trade and the factor content of trade
- elementary games with matrices
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| Methods of Teaching/Learning |
| Lectures (11) and computer based lab sessions (4) |
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| Selected Texts/Journals |
The mathematical aspects of the module are covered in Alpha C. Chiang and Kevin Wainwright Fundamental Methods of Mathematical Economics (paperback edition 2005), or Ian Jacques Mathematics for Economics and Business (latest edition 2009)
Applications will be covered through the construction of a module pack consisting of relevant articles and book chapters |
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| Last Updated |
10 March 2011 |
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