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| Module Availability |
Autumn |
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| Assessment Pattern |
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Unit(s) of Assessment
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Weighting Towards Module Mark( %)
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Coursework: one take-home assignment and one class test
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25
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Exam: written examination (2 hours, unseen)
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75
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| Module Overview |
This module will cover a number of mathematical techniques which are widely used in economic modelling.
Topics will include convexity, methods of constrained optimisation, introductory Game Theory and input-output analysis. |
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| Prerequisites/Co-requisites |
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MAT2009 Operations Research and Optimization
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| Module Aims |
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| Learning Outcomes |
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At the end of the module the student should be able to:
(1) Understand the types of function used in economic modelling;
(2) Apply the techniques of linear algebra to economic models;
(3) Use a variety of methods for optimizing convex and concave functions;
(4) Understand the basic principles of Game Theory;
(5) Use fixed-point theory to show existence of equilibria
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| Module Content |
Economic models of the firm and household; Utility and Production functions.
Methods for unconstrained and constrained optimization.
Introductory Game Theory and the application of Brouwer's fixed-point theorem.
Input-output analysis using the methods of linear algebra.
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| Methods of Teaching/Learning |
Teaching is by lectures and tutorials. Learning takes place through lectures, tutorials, exercises and background reading. 3 hours of lectures/tutorials per week for 10 weeks.
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| Selected Texts/Journals |
Background
Reading
K. Sydsaeter and P.J. Hammond : Mathematics for Economic Analysis, Prentice Hall (1995), ISBN 013583600X.
R.K. Sundaram : A First Course in Optimization Theory,
Cambridge
(1996), ISBN 0521497701.
Kelvin Lancaster : Mathematical Economics,
Dover
(1987), ISBN 0486653919.
Guillermo Owen : Game Theory, Academic Press (1995), ISBN 0125311516.
Elliot Mendelson : Introducing Game Theory and its Applications, Chapman & Hall / CRC (2004), ISBN 1584883006. |
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| Last Updated |
September 10 |
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