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FMT204Sciences2 Unitsintermediate

Introduction To Mathematical Economics

This course introduces fundamental concepts in mathematical economics. It covers logarithms, exponential functions, growth mathematics, and production functions. Students will learn differential and total derivatives, matrix algebra, and input-output analysis. The course also explores comparative statistics, linear programming, dual programming, and game theory. The aim is to equip students with mathematical tools for solving financial problems and making informed economic calculations.

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150h
Study Time
13
Weeks
12h
Per Week
intermediate
Math Level
Course Keywords
LogarithmsMatrix AlgebraLinear ProgrammingGame TheoryComparative Statics

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Logarithms and Exponentials

2

Production Functions

3

Matrix Algebra

4

Comparative Statistics

5

Linear Programming

6

Game Theory

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Computer Based Test

Career Opportunities

Explore the career paths this course opens up for you

Financial Analyst

Apply your skills in this growing field

Economist

Apply your skills in this growing field

Operations Research Analyst

Apply your skills in this growing field

Management Consultant

Apply your skills in this growing field

Investment Banker

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

FinanceEconomicsOperations ManagementConsultingBanking

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1:

6h

Unit 1: Indices, Exponential Equations and Logarithms

6 study hours
  • •Understand the laws of indices and their applications.
  • •Solve problems related to indices.
  • •Explain and solve problems on logarithms.
Week
2

Module 2:

7h

Unit 1: Growth Mathematics

7 study hours
  • •Determine arithmetic and geometric progressions.
  • •Calculate simple and compound interest.
  • •Understand discounting principles.
Week
3

Module 3:

8h

Unit 1: Matrix Algebra and Vector

8 study hours
  • •Define matrix algebra and vectors.
  • •Identify different types of matrices.
  • •Perform operations on matrices.
Week
4

Module 4:

7h

Unit 1: Comparative Statics and the Concept of Derivative

7 study hours
  • •Understand comparative statics and the concept of derivative.
  • •Apply derivatives to solve problems.
Week
5

Module 4:

6h

Unit 2: Applications to Comparative Static Analysis

6 study hours
  • •Apply comparative static analysis to market models.
  • •Apply comparative static analysis to national income models.
Week
6

Module 5:

8h

Unit 1: Games Theory

8 study hours
  • •Understand the basic concepts of game theory.
  • •Apply game theory to strategic decision-making.
Week
7

Module 6:

7h

Unit 1: Linear Programming

7 study hours
  • •Apply linear programming to business problems.
  • •Formulate linear programming models.
  • •Solve linear programming models using graphical methods.
Week
8

Module 1:

4h

Unit 1: Indices, Exponential Equations and Logarithms

4 study hours
  • •Review indices, exponential equations, and logarithms.
  • •Practice solving problems related to indices and logarithms.
Week
9

Module 2:

5h

Unit 1: Growth Mathematics

5 study hours
  • •Review arithmetic and geometric progressions.
  • •Practice calculating simple and compound interest.
  • •Solve problems on discounting.
Week
10

Module 3:

6h

Unit 1: Matrix Algebra and Vector

6 study hours
  • •Review matrix algebra and vectors.
  • •Practice matrix operations.
  • •Solve simultaneous equations using matrices.
Week
11

Module 4:

10h

Unit 1: Comparative Statics and the Concept of Derivative

5 study hours
  • •Review comparative statics and derivatives.
  • •Practice applying derivatives to economic problems.

Unit 2: Applications to Comparative Static Analysis

5 study hours
  • •Review applications of comparative static analysis.
  • •Solve problems related to market and national income models.
Week
12

Module 5:

6h

Unit 1: Games Theory

6 study hours
  • •Review game theory concepts.
  • •Practice solving game theory problems.
Week
13

Module 6:

6h

Unit 1: Linear Programming

6 study hours
  • •Review linear programming concepts.
  • •Practice formulating and solving linear programming models.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create concept maps linking logarithmic and exponential functions to economic applications.

2

Practice solving matrix algebra problems, focusing on simultaneous equations.

3

Formulate various business scenarios as linear programming models and solve them graphically.

4

Study game theory concepts, including Nash equilibrium and strategic dominance.

5

Review comparative statistics and practice applying derivatives to economic models.

6

Allocate study time evenly across all modules, with extra focus on challenging units.

7

Review all Tutor-Marked Assignments (TMAs) and their solutions.

8

Practice past exam papers to get familiar with question types and difficulty levels.

9

Create flashcards for key formulas and definitions.

10

Form study groups to discuss concepts and solve problems collaboratively.

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