This module provides an introduction to mathematical and statistical techniques; you will be prompted to appreciate how mathematical reasoning is used in economics and develop skills in the numerical, graphical and statistical analysis of economic data. The course starts with a review of material that may have been encountered in your previous studies, such as mathematics at GCSE or IB level, and moves on to developing your knowledge, understanding and ability to apply quantitative concepts, of particular relevance for microeconomics, macroeconomics and econometrics.
On successful completion of the module, students will be able to:
Students meet weekly and receive three hours class-contact each week in the form of workshops. The workshops are used to deliver and extend concepts, respond to student queries, provide hands on experience of working with/applying mathematical and statistical concepts and thereby build the confidence and capacity of students to work within the medium of quantitative methods. Preparatory reading may be required for each session and comprehensive on-line material will be made available for each topic where possible and relevant. Regular worksheets are to be completed by students and discussed in workshops. Students will also be encouraged to work through problems together.
Formative assessment and feedback is a critical part of the learning strategy. Major elements of this include:
- Formative class tests
- Self and tutor assessment on progress in completing the regular worksheets
- Self assessment on progress from completing a variety of designated on-line exercises and materials.
- Coursework feedback
Definitive UNISTATS Category | Indicative Description | Hours |
---|---|---|
Scheduled learning and teaching | Workshop | 66 |
Guided independent study | Student independent study | 234 |
Total (number of credits x 10) | 300 |
Summative Assessment for this module consists of 3 elements as follows:
Two quantitative reports on relevant quantitative material taught during the module.
Exam: An invigilated examination of 2 hours duration during the summer examination period. No outside material allowed, other than calculators.
The first form of summative assessment provides the opportunity for focus, feedback and a strengthening of the student's foundation in quantitative skills.
The second summative assessment is a two hour exam paper at the end of the module aimed at
Learning Outcome | Assessment Strategy |
---|---|
Demonstrate competence in basic algebraic manipulation and knowledge of introductory maths techniques. | Coursework/Exam |
Graph linear equations and solve simple and simultaneous equations. | Coursework/Exam |
Express an economic model using mathematical symbols and undertake comparative static analysis. | Coursework/Exam |
Use the techniques required to measure the gradient of a curve and apply these in discovering the optimal point of a function. | Coursework/Exam |
Locate, identify and summarise data using graphical and numerical techniques. | Coursework/Exam |
Apply and interpret methods of estimation and testing based on the normal and student's t probability distributions. | Coursework/Exam |
Employ and interpret concepts regarding the probability of an event happening. | Coursework/Exam |
Apply elementary smoothing and decomposition methods to time-series data, construct and interpret price indices. | Coursework/Exam |
Description of Assessment | Definitive UNISTATS Categories | Percentage |
---|---|---|
Coursework | Quantitative report 1 | 25 |
Coursework | Quantitative report 2 | 25 |
Examination | Written Exam | 50 |
Total (to equal 100%) | 100% |
It IS NOT a requirement that any element of assessment is passed separately in order to achieve an overall pass for the module.
Renshaw, G (2011), Maths for Economics, 3rd ed, Oxford, Oxford University Press.
Barrow, M (2009), Statistics for Economics, Accounting and Business Studies, 5th ed. Harlow, Pearson.
Maths material:
Jacques, I (2009), Mathematics for Economics and Business, 6th ed, Harlow, Pearson.
Bradley, T (2008), Essential Mathematics for Economics and Business. 3rd ed, Chichester, John Wiley & Sons
Croft, A and Davison R (2006), Foundation Maths, 4th ed, Harlow, Pearson.
Taylor, R and Hawkins, S (2008), Mathematics for Economics and Business, Maidenhead, McGraw Hill.
Statistics material:
Oakshott, L (2009), Essential Quantitative Methods for Business Management and Finance, 4th ed. Palgrave.
Orris, J.B. (2007), Basic statistics using Excel and Megastat, International Edition. McGraw-Hill.
Salvatore, D. (2002). Theory and Problems of Statistics and Econometrics, Schaum's Outlne Series. McGraw-Hill.