Calculus and Optimisation

Module code: EC1013

Module co-ordinator: Dr Francisco Martinez Mora

In this module you will study the principles of calculus and static optimisation and how they can be used in economics. By translating economic problems into mathematical models, we can simplify the real world in order to identify and model the essence of an economic problem.

Topics covered

  • Functions of one variable
  • Properties of functions
  • Differentiation
  • Derivatives in use
  • Integration
  • Functions of several variables
  • Partial differentiation
  • Tools for comparative statics
  • Concavity and Convexity
  • Unconstrained optimisation
  • Constrained optimisation
  • Envelope theorem

Learning

  • 20 one-hour lectures
  • 9 one-hour tutorials

Assessment

  • Mid-semester test, 50 minutes (20%)
  • Exam, 90 minutes (80%)