Durham University
Programme and Module Handbook

Undergraduate Programme and Module Handbook 2018-2019 (archived)


Department: Business School (Economics and Finance)


Type Open Level 2 Credits 20 Availability Available in 2018/19 Module Cap Location Durham


  • Principles of Economics (ECON1011) AND EITHER Economic Methods (ECON1021) OR (MATH1061) Calculus and Probability I AND (MATH1071) Linear Algebra I OR (MATH1541) Statistics AND (MATH1561) Single Maths A OR (MATH1551) Maths for Engineers and Scientists AND (MATH1541) Statistics OR successful completion of Phase 1 of the Economics programme at Shandong University, China


  • None.

Excluded Combination of Modules

  • None.


  • To develop your critical understanding and knowledge of quantitative methods in economics and finance
  • To build on the skills obtained in Level 1, and provide a grounding for further study in Level 3
  • To offer you the opportunity to develop some key skills


  • Using specific examples from Economics and Finance, the module develops key mathematical tools such as:
  • Systems of linear equations
  • Matrix algebra
  • Introduction to determinants
  • Second order conditions for multivariate optimization.
  • Implicit differentiation and comparative statics.
  • Natural Exponential Functions in Financial Mathematics
  • Further Applications of Natural Exponential Functions
  • Integral Calculus: the Definite Integral and Indefinite Integral
  • First-order Linear Differential Equations
  • Non-exact Differential Applications
  • First-order Difference Equations
  • Stability Analysis in Difference Equations
  • Second-order Linear Difference Equations

Learning Outcomes

Subject-specific Knowledge:
  • At the end of the module, students should:
  • be familiar with mathematical techniques and their applications in economics and finance
Subject-specific Skills:
  • Being able to apply mathematical tools to solve problems in economics and finance
Key Skills:
  • Written Communication - e.g. through summative assessment.
  • Planning, Organization, and Time Management - e.g. by preparing for examinations.
  • Problem Solving and Analysis - e.g. by applying the necessary analytical and quantitative skills in intermediate methods in economics and finance in undertaking assessed work.
  • Numeracy - e.g. by applying core mathematical and statistical skills to answer a range of examination questions.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lectures and tutorials. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by means of a time-constrained closed-book test. Summative assessment is by means of a written examination.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 21 1 per week 1 hour 21
Tutorial Classes 8 Fortnightly 1 hour 8
Preparation and Reading 171
Total 200

Summative Assessment

Component: Examination Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
One written examination 2 hours 100%

Formative Assessment:

Time-constrained closed-book test.

Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University