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MT1186 Mathematical Methods

UoL online book MT 1186

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153 views3 pages

MT1186 Mathematical Methods

UoL online book MT 1186

Uploaded by

Shiraz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Course information 2024-25

MT1186 Mathematical Methods


General information
MODULE LEVEL: 4
CREDIT: 30
NOTIONAL STUDY TIME: 300 hours
MODE: Locally Taught, Independent Learner Route and Online Taught

Summary
This unit develops a student’s proficiency in working with mathematical methods, and it investigates
some applications to problems in economics, management and related areas. The unit also develops
the student’s understanding of the theoretical concepts behind these methods.

Conditions
Please refer to the relevant programme structure in the EMFSS Programme Regulations to check:
• where this course can be placed on your degree structure; and
• details of prerequisites and corequisites for this course.

You should also refer to the Exclusions list in the EMFSS Programme Regulations to check if any
exclusions apply for this course.

Aims and objectives


The objectives specifically include:
• To enable students to acquire skills in the methods of calculus (including multivariate
calculus) and linear algebra, as required for their use in further mathematics and economics-
based subjects.
• To prepare students for further units in mathematics and/or related disciplines.

MT1186 Mathematical Methods Page 1 of 3


Learning outcomes
At the end of the course and having completed the essential reading and activities students should
be able to:
• use the concepts, terminology, methods and conventions covered in the unit to solve
mathematical problems in this subject
• solve unseen mathematical problems involving understanding of these concepts and
application of these methods
• explain how mathematics can be used to solve problems in economics and related subjects
• demonstrate knowledge and understanding of the underlying mathematical principles

Employability skills
Below are the three most relevant employability skills that students acquire by undertaking this
course which can be conveyed to future prospective employers:
1. Complex problem solving
2. Decision making
3. Adaptability and resilience

Essential reading
For full details, please refer to the reading list.

Binmore, K. and J. Davies Calculus: Concepts and Methods. (Cambridge: Cambridge University Press,
2011) second revised edition [ISBN 978-0521775410]

Anthony, M. and N. Biggs Mathematics for Economics and Finance. (Cambridge: Cambridge
University Press, 2024) [ISBN 978-1108459433].

Assessment
This course is assessed by a three-hour and fifteen-minute closed-book written examination.

MT1186 Mathematical Methods Page 2 of 3


Syllabus
This unit develops basic mathematical methods and will include their applications to problems in
economics, management and related areas.

Basics: Functions (including exponential and trigonometric functions); graphs of functions;


combinations of functions, inverse functions (Including logarithmic and inverse trigonometric
functions); identities; supply and demand functions (including the effects of taxation).

Differentiation: The definition of the derivative; standard derivatives; the product, quotient and
chain rules; tangent lines; using derivatives to find approximations; some applications of derivatives.

One-variable optimisation: First-order conditions for a stationary point; first and second-order tests
for the nature of a stationary point; curve sketching; optimisation; some applications of
optimisation.

Integration: Indefinite integrals; definite integrals and areas; standard integrals; integration by
substitution (including trigonometric substitutions); integration by parts; using partial fractions and
trigonometric identities to simplify integrands; some applications of integration.

Functions of several variables: Contours, sections and partial derivatives; the chain rule;
homogeneous functions.

Multivariate optimisation: Unconstrained optimisation; constrained optimisation (including the


method of Lagrange multipliers and the meaning of the Lagrange multiplier); some applications of
unconstrained and constrained optimisation.

Matrices and linear equations: Vectors, matrices and their algebra; solving systems of linear
equations using row operations; determinants and Cramer’s rule; inverse matrices; eigenvalues,
eigenvectors and diagonalisation of 2x2 matrices; some economic applications of matrices.

Differential equations: Separable and linear first-order differential equations; second-order


differential equations with constant coefficients; systems of first-order differential equations (solved
by reduction and diagonalisation); some applications of differential equations.

Difference equations: First-order difference equations; second-order difference equations with


constant coefficients; systems of first-order difference equations (solved by reduction and
diagonalisation); some applications of difference equations.

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