The course teaches the mathematical foundations of models in economics, business and finance and its applications. Mathematical topics covered include set theory, functions, series, limits, univariate and multivariate calculus, unconstrained and constrained optimisation, matrix algebra. Applications include effective interest rates, present value, annuities, production functions, average and marginal cost functions, profit maximisation.

  By the end of the course students will:

• have a sound understanding of mathematical techniques discussed
• formulate economic problems in mathematical terms and apply the tools provided in the module for analysing them.
• demonstrate an understanding of many of the common functional forms used in economics their derivatives
• apply the basic principles of maximisation and minimisation to optimisation problems     
• apply matrix algebra to simple economic problems and models
• make use of some basic principles of financial arithmetic in economic and financial problems

(Note: subject to change) Five in-tutorial tests, one midterm exam and one final exam.  Weighting scheme (in-tutorial tests/mid-semester exam/final exam): 10%/30%/60% or 10%/15%/75%, which is better.

Three lectures and one tutorial per week

None.

For further information please refer to course website