Undergraduate Programme and Module Handbook 2023-2024

# Module ECON2121: INTERMEDIATE ECONOMIC METHODS

## Department: Economics

### ECON2121: INTERMEDIATE ECONOMIC METHODS

Type | Open | Level | 2 | Credits | 20 | Availability | Available in 2023/24 | Module Cap | Location | Durham |
---|

#### Prerequisites

- Principles of Economics (ECON1011) AND EITHER Economic Methods (ECON1021) OR Calculus I (MATH1061) AND Linear Algebra I (MATH1071) AND Probability I (MATH1597) AND Statistics I (MATH1617) and Quantitive Methods (FINN1021)

#### Corequisites

- None.

#### Excluded Combination of Modules

- None.

#### Aims

- To develop 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 the opportunity to develop some key skills

#### Content

- 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 Ordinary Differential Equations
- First-order 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 seminars. Learning takes place through attendance at lectures, preparation for and participation in seminars, and private study. Formative assessment to help prepare for online exam. Summative assessment is by means of a written examination.

#### Teaching Methods and Learning Hours

Activity | Number | Frequency | Duration | Total/Hours | |
---|---|---|---|---|---|

Lectures | 20 | 1 per week | 1 hour | 20 | |

Workshops | 8 | 4 in Term 1, 4 in Term 2 | 1 hour | 8 | ■ |

Revision Lectures | 2 | 1 per week in Term 3 | 1 Hour | 2 | |

Preparation and Reading | 170 | ||||

Total | 200 |

#### Summative Assessment

Component: Examination | Component Weighting: 100% | ||
---|---|---|---|

Element | Length / duration | Element Weighting | Resit Opportunity |

One written online examination | 2 hours 3,000 words | 100% | Same |

#### Formative Assessment:

One written piece of work to prepare students for the summative exam.

■ 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