Advanced Mathematical Methods in Economics ECON5085
- Academic Session: 2021-22
- School: Adam Smith Business School
- Credits: 20
- Level: Level 5 (SCQF level 11)
- Typically Offered: Either Semester 1 or Semester 2
- Available to Visiting Students: No
- Available to Erasmus Students: No
The course discusses advanced mathematical methods used by researchers in contemporary Economics Analysis. It builds on the foundation laid out by Quantitative Methods course in the 1st year MRes.
20 hours of lectures (2 hours per week, during 10 weeks)
Requirements of Entry
Completion of the 1st year MRes in Economics, or equivalent qualification as decided by the course instructor.
ILOs are assessed through a 2-hours final exam (100%).
Main Assessment In: December and April/May
The course aims to provide students with mathematical/quantitative skills and knowledge that consititute the foundation for techniques and instruments in both microeconomic theory and intertemporal macroeconomics (such as multivariate calculus and integration, constrained optimisation, differential equations, dynamic programming methods, functional analysis), and to demonstrate various mathematical techniques are applied to economic problems.
Intended Learning Outcomes of Course
By the end of the course students will be able to:
1. demonstrate solid understanding of fundamental mathematical concepts and techniques employed in contemporary Economics
2. use the mathematical tools in formulating and analysing problems in economics,
3. recognize limitations of mathematical techniques
4. critically read, evaluate, and verify mathematical correctness of theorems and their proofs used in economic modelling
Minimum Requirement for Award of Credits
Students must submit at least 75% by weight of the components of the course's summative assessment.