EC128-Intermediate Mathematics for Economics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:4
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites: Co-requisite EC116 Introductory Mathematics for Economics 1 or IC104 Introductory Quantitative Techniques for Business and Finance if students have not completed A-level Maths or equivalent
Co-requisites:
Modules excluded:
Current from: 2022/3

Module Convenor: Dr Fangya Xu
Email: fangya.xu@reading.ac.uk

Type of module:

Summary module description:

This module builds on the introduction of mathematical techniques covered either in the Autumn term or before students began their economics programme.  It will present a further range of methods and their economic applications. Other modules in various economics programmes will make use of this material and provide further applications in their own context.

Aims:

Students will become familiar with the idea that mathematics can be used to describe and extend economics in a rigorous fashion. The precision of this approach and the breadth of application to economics of the different mathematical techniques will be emphasised throughout.

Assessable learning outcomes:

At the end of the module students should be able to:

1. Understand economic theory which makes use of basic mathematical techniques involving, e.g., unconstrained optimisation, constrained optimisation, integration, and linear algebra.


2. Solve a range of economic problems which are formulated in mathematical terms.


3. Follow the mathematical content of the core modules in microeconomics, macroeconomics, and econometrics, and those electives that are more mathematical in content.

Additional outcomes:

Students will have a better-developed sense of the precision involved in formulating economic models rigorously. Their numeracy and mathematical skills should have been greatly strengthened through practice with exercises.

Outline content:

The module concentrates on those areas of calculus and linear algebra that are widely used in economic applications. The topics covered may include but are not limited to: revision of properties of the exponential and logarithmic functions and their use in economics, economic applications of differentiation and integration, unconstrained optimisation and constrained optimisation in economics, linear algebra and the use of matrices to describe and solve economic problems.

Global context:

Together with the ‘Introductory Quantitative Methods for Economics and Business 2 and Study Skills’ (EC120) this module develops the quantitative background for single honours study of economics. 

Brief description of teaching and learning methods:

There will be ten weekly 2-hour lectures in the Spring term and one 2-hour revision lecture in the Summer term. In addition, there will be ten weekly 2-hour seminars in the Spring term.

Lectures will introduce the core concepts and methods which students will have the opportunity to apply in seminar questions, additional practice questions, as well as in summative assessments. Seminars will apply the core concepts and methods learned to economic problems via demonstrations , discussions, and group work. 

Contact hours:

	Autumn	Spring	Summer
Lectures		20	2
Seminars		20
Guided independent study:
Wider reading (independent)		40
Wider reading (directed)		40
Exam revision/preparation			18
Advance preparation for classes		20
Preparation for seminars		20
Preparation of practical report		10
Completion of formative assessment tasks		10
Total hours by term	0	180	20
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	60
Oral assessment and presentation	40

Summative assessment- Examinations:

One 3-hour unseen written examination. Part 1 exams are held in the Summer term.

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

Pre-recorded video presentation which will contribute towards 40% of the overall module mark. This will be based on individual work on a problem set.

Formative assessment methods:

Worked examples, problem-solving based class activities, and open discussions during the classes. Further assistance can be offered during feedback and consultation hours.

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A weighted minimum overall mark of 40%.

Reassessment arrangements:

Re-assessment for all modules takes place in August/September of the same year.



Re-assessment for this module will be by examination only.

Additional Costs (specified where applicable):

1) Required text books:  

2) Specialist equipment or materials:  

3) Specialist clothing, footwear or headgear:  

4) Printing and binding:  

5) Computers and devices with a particular specification:  

6) Travel, accommodation and subsistence:  

Last updated: 22 September 2022