EC221: Mathematical Economics 1B
Principal Aims
12 CATS EC221-12 Mathematical Economics 1B 15 CATS EC221-15 Mathematical Economics 1BPrincipal Learning Outcomes
12 CATSSubject 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 CATSSubject 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%) + Online Examination (70%)
- Coursework Details
- 12 CATS: Online Examination (100%)
15 CATS: Online 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.