Units / ECC2551
ECC2551 · Mathematical economics
2027 Handbook6 credit pointsLevel 2Department of Economics
Overview
Economic analysis of human interactions within and beyond markets often relies on mathematical models. The ability to utilize the tools and techniques used to construct and analyse mathematical models is becoming increasingly valuable. You will learn the mathematics necessary to construct and analyse models in various sub-fields of economics such as microeconomics, behavioural economics, game theory, industrial organization, public finance, and macroeconomics. You will learn to use basic concepts of sets, relations, and functions to model problems studied in various sub-fields of economics. The techniques used to find the equilibrium outcomes in both strategic and non-strategic contexts will be covered.
Offerings
| Campus | Teaching period | Mode |
|---|---|---|
| Clayton | Second semester | Teaching activities are on-campus (ON-CAMPUS) |
Assessment
The Handbook lists an examination for this unit.
| # | Assessment | Type | Weight | Hurdle |
|---|---|---|---|---|
| 1 | 1 - Quiz / Test | Quiz / Test | 20% | — |
| 2 | 2 - Written | Written | 40% | — |
| 3 | 3 - Examination | Examination | 40% | — |
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Requisites
The Handbook lists no prerequisite, corequisite or prohibition for this unit.
Learning outcomes
- use notions of sets, relations, and functions to model problems studied in various sub-fields of economics
- find the equilibrium outcomes in models of strategic interaction
- use single-variable and multi-variable calculus to solve unconstrained and constrained optimization problems
- set up and analyse simple problems involving dynamic optimisation
Workload
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
| Activity | Duration |
|---|---|
| Applied sessions | 12 hours |
| Workshops | 24 hours |
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