MA207 Half Unit
Further Quantitative Methods (Mathematics)
This information is for the 2013/14 session.
Teacher responsible
Dr James Ward
Availability
This course is available on the BSc in Accounting and Finance, BSc in Management and BSc in Management Sciences. This course is available as an outside option to students on other programmes where regulations permit. This course is available with permission to General Course students.
Pre-requisites
Students should have previously taken Quantitative Methods (Mathematics) (MA107). It is not available to students who have taken Mathematical Methods (MA100), or equivalent, nor higher level methods courses.
Course content
This is a second course in quantitative methods, following on directly from Quantitative Methods (Mathematics) (MA107). This course will contain further algebra and calculus. As with the course MA107, the emphasis will be on applications in economics and finance. Topics covered: Matrix methods in portfolio analysis. Linear independence. Rank of a matrix. Eigenvalues and eigenvectors. Diagonalisation. Linear systems of recurrence equations. Markov process. Second-order recurrence equations. Macroeconomic models. Vector geometry. Gradient and directional derivative. Tangent hyperplanes and the optimal bundle. Resource allocation and Pareto efficiency. Orthogonal matrices and quadratic forms. Critical points of quadratic functions. Taylor's approximation. Optimisation of functions of two or more variables.
Teaching
20 hours of lectures and 9 hours of classes in the LT. 2 hours of lectures and 1 hour of classes in the ST.
Formative coursework
Written answers to set problems will be expected on a weekly basis.
Indicative reading
M Anthony & N Biggs, Mathematics for Economics and Finance (Cambridge, 1996); A Ostaszewski, Mathematics in Economics (Blackwell, 1993).
Assessment
Exam (100%, duration: 2 hours) in the main exam period.
Key facts
Department: Mathematics
Total students 2012/13: 33
Average class size 2012/13: 13
Value: Half Unit
PDAM skills
- Self-management
- Problem solving
- Application of information skills
- Communication
- Application of numeracy skills
- Specialist skills