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EC221: Mathematical Economics 1B

  • Pablo Beker

    Module Leader
12/15 CATS - Department of Economics
Spring Module

Principal Aims

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

Principal Learning Outcomes

12 CATS

By the end of the module the student should be able to 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.

By the end of the module the student should be able to 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.

15 CATS

By the end of the module the student should be able to learn that a few simple, intuitive principles, formulated precisely, can go a long way in understanding the fundamental aspects of many economic problems.

By the end of the module the student should be able to 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.

Syllabus

The module will typically cover the following topics:1. Foundations and Definitions for the Study of Walrasian Equilibrium: Commodities, Consumer preferences, Edgeworth boxes, Production2. Efficiency of Allocation and Production3. Walrasian Equilibrium in Exchange Economies4. Walrasian Equilibrium in Production Economies5. The First Welfare Theorem of Economics6. 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 EC106 for MORSE students 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 OR 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
Part-year Availability for Visiting Students
12 CATS - Not available on a part-year basis 15 CATS - Available in the Spring term only (1 x test - 12 CATS) and in the Spring and Summer terms together (1 x test and 1 x 2 hour exam – 15 CATS)

Assessment

Assessment Method
12 CATS - 2 hour examination (Summer) (100%) 15 CATS - Coursework (30%) + 2 hour examination (Summer) (70%)
Coursework Details
12 CATS - 2 hour examination (Summer) (100%) 15 CATS - Test (30%), 2 hour examination (Summer) (70%)
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.

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