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Quantitative Methods in Economics, Business and Finance - ECON131
This unit introduces students to the mathematical techniques used to analyse problems in economics, business and finance. It is highly recommended for students who have not studied HSC mathematics, but intend to enrol in units for which it is assumed knowledge. The unit is also recommended for students who need to extend their knowledge of mathematical techniques to applications in business, economics and finance. The topics covered in this unit include: basic financial mathematics; multiplier analysis; marginal analysis; static linear models; dynamic linear models; constrained optimisation and unconstrained optimisation. The applications vary from year to year, but typically include the solution of macroeconomic models, optimal production and pricing problems, and portfolio selection. The mathematical topics covered include: functions of several variables; limits; calculus of single-variable and multiple-variable functions; optimisation; matrix algebra; and complex variables. This quantitative methods unit combines elements of mathematics and economics. However, the unit is neither a unit in mathematics, nor technically in economics. Rather, it is about the unification of mathematics and economics. Its objective is to allow students to formulate and analyse problems in business, economics and finance in the language of, and using the power of, mathematics.
| Credit Points: | 3 |
| When Offered: | D1 - Day; Offered in Session 1, North Ryde E2 - Evening; Offered in Session 2, North Ryde Session 3 Internal - Day; Offered in December 2012 - February 2013, North Ryde |
| Staff Contact(s): | Dr Edwin Franks |
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| Unit Type: | Planet unit |
| Assessed As: | Graded |
| Offered By: | Department of Economics Faculty of Business and Economics |
Timetable Information
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