Module description
This module will introduce students to the mathematical tools most commonly used in economics. The focus will be in optimisation and linear algebra. Examples will be drawn from economics and economic reasoning and intuition will be employed whenever possible.
Students are expected to have completed Quantitative Methods. The module is only recommended for students who have a mark of 65 or above in QM.
expected background:
4SSPP109 (Quantitative Methods): This module prepares students for training in statistics and econometrics in DPE at King’s and covers the basic mathematics required for modern economic analysis. It provides a detailed introduction to statistics and mathematics for students with limited quantitative backgrounds. It provides students with the tools to carry out basic data analysis: starting with real world questions, translating them into statistical problems, carrying out the data analysis and taking their conclusions back into the original setting. This will require a conceptual understanding of the distinction between data analysis and inference, data quality and the conditions under which we can trust statistical results. Throughout the course students have the opportunity to acquire “hands-on” experience of data analysis using STATA software. The course also covers the basic mathematics used in modern economic analysis. This includes linear and non-linear algebra and basic calculus.
Assessment details
Midterm exam (30%), final exam (70%)
SEM1-only students will be given an appropriate alternative assessment for In person January exams.
Educational aims & objectives
Educational Aims:
- teach students the mathematical tools most commonly used in economics;
- show students how our understanding of economic concepts can be made more precise through their mathematical formulation;
- enable students to write their own economic models;
- topics covered will include differentiation, optimisation, further topics in calculus and linear algebra;
- provide students with the mathematical background that will prepare them for the more mathematical of the level 6 optional modules.
Learning outcomes
By the end of the course the students will be able to:
- read papers recently published in international journals in economics;
- appreciate how mathematics can help make economics concepts clearer and more precise;
- write their own mathematical models;
- use the mathematical tools that are necessary to write a formal theory dissertation;