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Quantitative Techniques for Economics and Finance I

Overview

  • Credit value: 30 credits at Level 4
  • Convenor: Dr Alastair Ball
  • Assessment: Moodle quizzes and assignment (40%) and a three-hour examination (60%)

Module description

This module provides the quantitative techniques that form the foundation for the entire programme. The aim is to show how these techniques work and how they can be used to understand the structure and operation of simple economic and financial models. The module has a mathematical and a statistical component.

Learning objectives

By the end of this module, you should:

  • be proficient in basic algebraic manipulation
  • be able to solve linear and a system of two equations
  • be able to apply and solve quadratic, exponential and logarithmic equations
  • be able to use differentiation and optimisation techniques in economic applications
  • be familiar with exponential and logarithmic functions
  • be familiar with random variables and probability distributions
  • understand basic probability concepts and be able to calculate conditional and unconditional, marginal and joint probabilities
  • be able to compute the expectation and variance of linear functions of random variables.