Module Identifier MA12610  
Academic Year 2001/2002  
Co-ordinator Professor T Phillips  
Semester Semester 1  
Pre-Requisite GCSE Mathematics grade C or better or its equivalent.  
Mutually Exclusive May not be taken at the same time as, or after, any of MA10020, MA11010, MA11110, MA12110, MA12510, MA13010, MA13510.  
Course delivery Lecture   22 x 1 hour lectures  
  Seminars / Tutorials   10 x 1 hour example classes  
Assessment In-course assessment   Open book test   20%  
  Course work     20%  
  Exam   2 Hours (written examination)   60%  
  Resit assessment   2 Hours (written examination)   100%  

General description

This module covers a number of mathematical topics that are relevant to students studying Economics. These include functions, the concepts and rules of differentiation, optimisation of functions of one variable and integration. The application of this material to problems in Economics forms an important element of this module.


To introduce students to some of the elementary but essential mathematical concepts and skills necessary for an understanding of modern economic theories.

Learning outcomes

On completion of this module, a student should be able to:


1. ELEMENTARY ALGEBRA: Exponents. Polynomials. Factorization. Solution of linear and quadratic equations. Solution of simultaneous equations. Supply and demand analysis.
2. FUNCTIONS: Notation and definitions. Graphs of functions. Inverse functions. Budget lines. Economic functions.
3. DIFFERENTIATION: The derivative of a function. The derivative of a polynomial. Marginal functions. Higher-order derivatives.
4. EXPONENTIAL AND LOGARITHMIC FUNCTIONS: Definitions and properties. Graphs of exponential and logarithmic functions. Derivatives. Solution of logarithmic equations. Production functions. Interest compounding.
5. OPTIMIZATION OF FUNCTIONS OF A SINGLE VARIABLE: Local and global maxima and minima, points of inflection. Optimization of economic functions.

Reading Lists

** Should Be Purchased
I Jacques. (1995) Mathematics for Economics and Business. Addison-Wesley 0201427699
** Supplementary Text
E T Dowling. (1992) Schaum's Outline Series. Introduction to Mathematical Economics.. McGraw-Hill 0070176744
M Wisniewski. (1996) Introductory Mathematical Methods in Economics. 2nd. McGraw-Hill 0077091094
A C Chiang. (1974) Fundamental Methods of Mathematical Economics. 2nd. McGraw-Hill 0070107807
J Black & J F Bradley. (1980) Essential Mathematics for Economists. 2nd. John Wiley 0471276596