Learning objectives |
At the end of this course students are able to:
• use mathematical tools correctly;
• apply mathematical techniques to solve a range of different economic problems;
• give solutions in a clear and structured way;
• understand why mathematical tools work;
• understand mathematical proofs and be able to prove simple results
Mathematics is an important tool for economics. Most of the economic theories are formalised using mathematical models. As a result, knowledge of mathematical techniques that are often used in economics is a prerequisite for reading and understanding many of the papers published in economic journals.|
The course builds on the knowledge acquired in the first-year course Mathematics for economists. This course explores the following topics: linear algebra (vectors and matrices), functions, differentiation, integration (integrals by substitution, by parts, improper integrals, multiple integrals), unconstrained optimisation, constrained optimisation with equality constraints, concave programming, envelope theorem, Taylor series expansion, differential equations, difference equations, systems of differential equations.
The course prepares for many quantitative masters in economics and finance and, in particular, for the Research Master in Multidisciplinary Economics at U.S.E.
Each week there will be one lecture and two tutorials
This course focuses on the following academic skills:
- Being able to solve problems (identifying the problem, devising a path towards the solution, follow this path, verify the outcome) for more complex assignments.
- Being able to identify, interpret and critically evaluate the main line of reasoning, for more complex problems.
The mid-term (50%) covers the topics of the first four weeks, while the end-term (50%) covers the topics of the last three weeks. For more information about replacement and supplementary retake exams see the course manual.
In week 2 – week 8, students have to hand in individual assignments (deadline: Friday 4:30 p.m. of that week), in which the exercises are on the material of the week before. At the end of the course, the assignments of two randomly drawn weeks will be checked. If both assignments are of sufficient quality, the effort requirement will be checked off.
Courses that build on Advanced Mathematics:
• Microeconomics and Behaviour of Financial Markets (ECB3ME)
• Industrial Organisation and Competition Policy (ECB3IO)
• Growth and Development (ECB3GD)
• Game Theory (ECB3GT)
In case online access is required for this course and you are not in the position to buy the access code, you are advised to contact the course coordinator for an alternative solution. Please note that access codes are not re-usable meaning that codes from second hand books do not work, as well as access codes from books with a different ISBN number. Separate or spare codes are usually not available.