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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 (2 class tests)
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25
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Exam: written examination (2 hours, unseen)
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75
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Qualifying Condition(s)
An overall aggregate mark of 40% for the module is required to pass the module.
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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 |
MAT2009 Operations Research and Optimization |
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| Module Aims |
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| Learning Outcomes |
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 |
4 May 2011 |
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