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ECON2121: INTERMEDIATE ECONOMIC METHODS

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Type Open
Level 2
Credits 20
Availability Available in 2023/24
Module Cap
Location Durham
Department Economics

Prerequisites

  • Principles of Economics (ECON1011) AND EITHER Economic Methods (ECON1021) OR Calculus I (MATH1061) AND Linear Algebra I (MATH1071) AND Probability I (MATH1597) AND Statistics I (MATH1617) and Quantitive Methods (FINN1021)

Corequisites

  • None.

Excluded Combinations of Modules

  • None.

Aims

  • To develop critical understanding and knowledge of quantitative methods in economics and finance
  • To build on the skills obtained in Level 1, and provide a grounding for further study in Level 3
  • To offer the opportunity to develop some key skills

Content

  • Using specific examples from Economics and Finance, the module develops key mathematical tools such as:
  • Systems of linear equations
  • Matrix algebra
  • Introduction to determinants
  • Second order conditions for multivariate optimization.
  • Implicit differentiation and comparative statics.
  • Natural Exponential Functions in Financial Mathematics
  • Further Applications of Natural Exponential Functions
  • Integral Calculus: the Definite Integral and Indefinite Integral
  • First-order Ordinary Differential Equations
  • First-order Difference Equations

Learning Outcomes

Subject-specific Knowledge:

  • At the end of the module, students should:
  • be familiar with mathematical techniques and their applications in economics and finance

Subject-specific Skills:

  • Being able to apply mathematical tools to solve problems in economics and finance

Key Skills:

  • Written Communication - e.g. through summative assessment.
  • Planning, Organization, and Time Management - e.g. by preparing for examinations.
  • Problem Solving and Analysis - e.g. by applying the necessary analytical and quantitative skills in intermediate methods in economics and finance in undertaking assessed work.
  • Numeracy - e.g. by applying core mathematical and statistical skills to answer a range of examination questions.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminars, and private study. Formative assessment to help prepare for online exam. Summative assessment is by means of a written examination.

Teaching Methods and Learning Hours

ActivityNumberFrequencyDurationTotalMonitored
Lectures201 per week1 hour20 
Workshops84 in Term 1, 4 in Term 21 hour8Yes
Revision Lectures21 per week in Term 31 Hour2 
Preparation and Reading170 
Total200 

Summative Assessment

Component: ExaminationComponent Weighting: 100%
ElementLength / DurationElement WeightingResit Opportunity
One written online examination2 hours 3,000 words100Same

Formative Assessment

One written piece of work to prepare students for the summative exam.

More information

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