MATHEMATICS FOR ECONOMICS - 2022/3
Module code: ECO1005
In light of the Covid-19 pandemic the University has revised its courses to incorporate the ‘Hybrid Learning Experience’ in a departure from previous academic years and previously published information. The University has changed the delivery (and in some cases the content) of its programmes. Further information on the general principles of hybrid learning can be found at: Hybrid learning experience | University of Surrey.
We have updated key module information regarding the pattern of assessment and overall student workload to inform student module choices. We are currently working on bringing remaining published information up to date to reflect current practice during the academic year 2021/22.
This means that some information within the programme and module catalogue will be subject to change. Current students are invited to contact their Programme Leader or Academic Hive with any questions relating to the information available.
This module seeks to provide the necessary mathematical skills essential for those second and final year modules that are mathematical in nature. It will demonstrate the role mathematics plays in the formulation of economic theory and subsequent analysis.
MARTELLOSIO Federico (Economics)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 4
JACs code: G100
Module cap (Maximum number of students): N/A
Overall student workload
Workshop Hours: 16
Independent Learning Hours: 86
Tutorial Hours: 5
Guided Learning: 22
Captured Content: 21
Prerequisites / Co-requisites
Indicative content include:
Partial Derivatives and economic applications
Total differentials and total derivatives
Multivariate optimisation – unconstrained and constrained
Differential calculus, including multivariate calculus
Series and financial maths
|Assessment type||Unit of assessment||Weighting|
|Online Scheduled Summative Class Test||ONLINE (OPEN BOOK) TEST WITHIN 24HR WINDOW (TIMED)||20|
|Examination Online||ONLINE (OPEN BOOK) EXAM WITHIN 24HR WINDOW (TIMED)||80|
The assessment strategy is designed to provide students with the opportunity to demonstrate:
understanding of the mathematical techniques discussed during the lectures, mathematical manipulation skills, and the ability to interpret mathematical solutions in an economic context.
Thus, the summative assessment for this module consists of:
Two 45 minutes multiple choice tests (weeks 7 and 11). These will provide students with an assessment of their understanding of basic concepts studied in the first and the second part of the course, respectively. Each test is worth 15% of the final mark.
One 2-hour final exam in which students are required to solve exercises and to answer some theoretical questions. This exam is designed to test the learning outcomes indicated above. Worth 70% of the final mark.
Formative assessment and feedback
Students receive verbal feedback during lectures, in which simple questions and exercises are discussed. They also have weekly feedback sessions. For these, students are being provided with a set of exercises relating to the lecture material which they solve independently or in teams. In the feedback sessions, they receive feedback on their answers, and guidance on how these answers could be improved. In addition to this, students receive guideline solutions online. Before the coursework test, some sample questions are made available for students to familiarise themselves with the setup of the test. Finally, after the two tests, students receive written feedback in the form of correct answers and a discussion of common mistakes.
- To enable students to transform economic models into mathematical format
- To develop mathematical manipulation skills in the search for a solution
- To develop ability in the interpretation of mathematical solutions in an economic context
|001||Understand the role mathematics plays in the representation and analysis of economic theory||KCPT|
|002||Be proficient at obtaining derivatives and integrals for a wide range of bivariate and multivariate functions||KCPT|
|003||Be able to structure economic and finance problems in mathematical format and solve where appropriate||KCPT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
- Enhance mathematical skills
- Enable students to satisfactorily interpret mathematical solutions in an economic context
- Emphasise rigorous mathematical language
The learning and teaching methods include:
- 2-hour lecture per week, x 11 weeks
- 1-hour feedback session per week x 10 weeks
- independent study (118 hours)
Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.
Upon accessing the reading list, please search for the module using the module code: ECO1005
Programmes this module appears in
|Business Economics BSc (Hons)||2||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
|Economics and Finance BSc (Hons)||2||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
|Economics BSc (Hons)||2||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
|Politics and Economics BSc (Hons)||2||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2022/3 academic year.