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EC221: Mathematical Economics 1B

  • Darina Dintcheva

    Module Leader
  • James Massey

    Module Lecturer
12/15 CATS - Department of Economics
Summer Module
Spring Module

Principal Aims

12 CATS EC221-12 Mathematical Economics 1B 15 CATS EC221-15 Mathematical Economics 1B

Principal Learning Outcomes

12 CATS

Subject Knowledge and Understanding:...acquire a sense of the normative significance of competitive markets in obtaining Pareto optimal allocations via appropriate extensions of the commodity space. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures and Seminars. The summative assessment methods that measure the achievement of this learning outcome are: Final Exam.

Subject Specific and Professional Skills:...learn that a few simple, intuitive principles, formulated precisely, can go a long way in understanding the fundamental aspects of many economic problems. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures and Seminars. The summative assessment methods that measure the achievement of this learning outcome are: Final Exam.

15 CATS

Subject Knowledge and Understanding:...acquire a sense of the normative significance of competitive markets in obtaining Pareto optimal allocations via appropriate extensions of the commodity space. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures and Seminars. The summative assessment methods that measure the achievement of this learning outcome are: Test and Final Exam.

Subject Specific and Professional Skills:...learn that a few simple, intuitive principles, formulated precisely, can go a long way in understanding the fundamental aspects of many economic problems. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures and Seminars. The summative assessment methods that measure the achievement of this learning outcome are: Test and Final Exam.

Syllabus

The module will typically cover the following topics:

1. Foundations and Definitions for the Study of Walrasian Equilibrium: Commodities, Consumer preferences, Edgeworth boxes, Production

2. Efficiency of Allocation and Production

3. Walrasian Equilibrium in Exchange Economies

4. Walrasian Equilibrium in Production Economies

5. The First Welfare Theorem of Economics

6. The Second Welfare Theorem of Economics

Context

Optional Core Module
GL11 - Year 2, GL12 - Year 2
Optional Module
L100 - Year 2, L1P5 - Year 1, L1PA - Year 1, LM1D (LLD2) - Year 2, V7ML - Year 2, V7ML - Year 3, V7MP - Year 2, V7MP - Year 3, V7MR - Year 2, V7MR - Year 3, V7MM - Year 4, G100 - Year 2, G100 - Year 3, G103 - Year 2, G103 - Year 3, R9L1 - Year 4, R3L4 - Year 4, R4L1 - Year 4, R2L4 - Year 4, R1L4 - Year 4, L1L8 - Year 2, L1L8 - Year 3
Pre or Co-requisites

12 CATS - Any of:

EC106-24 Introduction to Economics

OR

EC107-30 Economics 1

OR

EC137-15 Economics 1: Micro

Summary:

Modules: EC106-24

15 CATS - Any of:

EC106-24 Introduction to Economics OR

EC107-30 Economics 1 OR

EC109-30 Microeconomics 1 OR

EC137-15 Economics 1: Micro

AND (FOR ECONOMICS STUDENTS ONLY)

EC121-12 Mathematical Techniques A AND

EC122-12 Statistical Techniques A AND

EC125-6 Computing and Data Analysis

OR

EC123-12 Mathematical Techniques B AND

EC124-12 Statistical Techniques B AND

EC125-6 Computing and Data Analysis

EC106 or EC107 for GL11 and other Maths students

Summary:

Modules: EC106-24 or EC107-30 or EC109-30 or EC137-15 or (EC121-12 and EC122-12 and EC125-6) or (EC123-12 and EC124-12 and EC125-6)

Assessment

Assessment Method
12 CATS - Online Examination (100%) 15 CATS - Coursework (30%) + Examination (70%)
Coursework Details
12 CATS: Online Examination (100%)
15 CATS: Examination (70%) , Test (30%)
Exam Timing
Summer

Exam Rubric

Time Allowed: 2 Hours

Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.

There is ONE section in this paper. Answer TWO questions ONLY (50 marks each).

Approved pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.