Module Catalogues, Xi'an Jiaotong-Liverpool University   
 
Module Code: ECO204
Module Title: Mathematical Economics
Module Level: Level 2
Module Credits: 5.00
Academic Year: 2017/18
Semester: SEM1
Originating Department: International Business School
Pre-requisites: ECO101
   
Aims
The aim of the module is to introduce students to the use of mathematical models in the study of Economics. This module builds on the material of the first year Mathematics and Economics modules and will deepen students’ knowledge of both Microeconomics and Macroeconomics.
Learning outcomes 
A. Demonstrate an understanding of the theories and application of univariate calculus

B. Demonstrate a basic understanding of matrix algebra

C. Demonstrate skills with multivariate calculus and study optimization

D. Apply these skills to solving microeconomic and macroeconomic problems



Method of teaching and learning 
The module will be taught using a combination of lectures, exercise tutorials and office hours for student questions. The lectures are intended to provide an introduction to the topics covered in the syllabus. This will be built upon by the regular completion of structured exercises. Learning will also be reinforced by appropriate readings from the course text. Additional time for questions will be provided to students during office hours.
Syllabus 
1. Univariate calculus: Theory and application to different market structures

2. Matrix algebra: Basic operations

3. Matrix algebra: The inverse of a matrix

4. Matrix algebra: Systems of equations & Cramer’s rule

5. Matrix algebra: Application: IS-LM analysis

6. Multivariate calculus: Theory

7. Multivariate calculus: Application – Balanced budget multipliers

8. Unconstrained multivariate optimization: Theory

9. Unconstrained multivariate optimization: Application – Profit maximization and duopoly

10. Constrained optimization: Theory

11. Constrained optimization: Application – Utility analysis

12. Difference equations: Theory and application – simple Keynesian model & Cobweb model

Delivery Hours  
Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total
Hours/Semester 26    12      112  150 

Assessment

Sequence Method % of Final Mark
1 Midterm Exam 15.00
2 Final Exam 70.00
3 Coursework 15.00

Module Catalogue generated from SITS CUT-OFF: 10/22/2017 9:35:00 PM