EC22115 Mathematical Economics 1B
Introductory description
EC22115 Mathematical Economics 1B
Module aims
To develop the notion of competitive equilibrium and the fundamental properties of competitive equilibria.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
The module will typically cover the following topics:1. Foundations and Definitions for the Study of Walrasian Equilibrium: Commodities, Consumer preferences, Edgeworth boxes, Production2. Efficiency of Allocation and Production3. Walrasian Equilibrium in Exchange Economies4. Walrasian Equilibrium in Production Economies5. The First Welfare Theorem of Economics6. The Second Welfare Theorem of Economics
Learning outcomes
By the end of the module, students should be able to:
 By the end of the module the student should be able to acquire a sense of the normative significance of competitive markets in obtaining Pareto optimal allocations via appropriate extensions of the commodity space. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures and Seminars The summative assessment methods that measure the achievement of this learning outcome are: Test and Final Exam.
 By the end of the module the student should be able to learn that a few simple, intuitive principles, formulated precisely, can go a long way in understanding the fundamental aspects of many economic problems.
Indicative reading list
Please see Talis Aspire link for most up to date list.
View reading list on Talis Aspire
Subject specific skills
Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Strategic thinking
Problemsolving
Abstraction
Policy evaluation
Analysis of incentives
Concepts of Simultaneity and Endogeneity
Analysis of optimisation
Understanding of Uncertainty and Incomplete Information
Transferable skills
Students will have the opportunity to develop:
Numeracy and quantitative skills
Written communication skills
Oral communication skills
Mathematical, statistical and databased research skills
Study time
Type  Required 

Lectures  20 sessions of 1 hour (13%) 
Seminars  5 sessions of 1 hour (3%) 
Private study  125 hours (83%) 
Total  150 hours 
Private study description
Private study will be required in order to prepare for seminars/classes, to review lecture notes, to prepare for forthcoming assessments, tests, and exams, and to undertake wider reading around the subject.
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Students can register for this module without taking any assessment.
Assessment group DA
Weighting  Study time  

Test  30%  
In class 50 minute test 

Online Examination  70%  
A paper which examines the course content and ensures learning outcomes are achieved.

Feedback on assessment
The Department of Economics is committed to providing high quality and timely feedback to students on their assessed work, to enable them to review and continuously improve their work. We are dedicated to ensuring feedback is returned to students within 20 University working days of their assessment deadline. Feedback for assignments is returned either on a standardised assessment feedback cover sheet which gives information both by tick boxes and by free comments or via free text comments on tabula, together with the annotated assignment. For tests and problem sets, students receive solutions as an important form of feedback and their marked assignment, with a breakdown of marks and comments by question and subquestion. Students are informed how to access their feedback, either by collecting from the Undergraduate Office or via tabula. Module leaders often provide generic feedback for the cohort outlining what was done well, less well, and what was expected on the assignment and any other common themes. This feedback also includes a cumulative distribution function with summary statistics so students can review their performance in relation to the cohort. This feedback is in addition to the individualspecific feedback on assessment performance.
Prerequisites
EC107 for GL11 students.
EC121 or EC123 and
EC122 or EC124 for other students.
To take this module, you must have passed:
Postrequisite modules
If you pass this module, you can take:
 EC33130 Research in Applied Economics
 EC33130 Research in Applied Economics
Courses
This module is Core optional for:
 Year 2 of UMAAGL11 Undergraduate Mathematics and Economics
 Year 2 of UECAGL12 Undergraduate Mathematics and Economics (with Intercalated Year)
This module is Optional for:

TECAL1PA Postgraduate Taught Economics (Diploma plus MSc)
 Year 1 of L1PA Economics (Diploma plus MSc)
 Year 1 of L1PA Economics (Diploma plus MSc)
 Year 2 of L1PA Economics (Diploma plus MSc)
 Year 2 of L1PA Economics (Diploma plus MSc)

UECA3 Undergraduate Economics 3 Year Variants
 Year 2 of L100 Economics
 Year 2 of L100 Economics
 Year 2 of L100 Economics
 Year 2 of L116 Economics and Industrial Organization
 Year 2 of L116 Economics and Industrial Organization

UECA4 Undergraduate Economics 4 Year Variants
 Year 2 of LM1H Economics, Politics & International Studies with Study Abroad
 Year 2 of LM1H Economics, Politics & International Studies with Study Abroad
 Year 4 of LM1H Economics, Politics & International Studies with Study Abroad
 Year 4 of LM1H Economics, Politics & International Studies with Study Abroad

UECALM1D Undergraduate Economics, Politics and International Studies
 Year 2 of LM1D Economics, Politics and International Studies
 Year 2 of LM1D Economics, Politics and International Studies
 Year 3 of UMAAGL11 Undergraduate Mathematics and Economics
 Year 4 of UECAGL12 Undergraduate Mathematics and Economics (with Intercalated Year)

UPHAV7ML Undergraduate Philosophy, Politics and Economics
 Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)
 Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)
 Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)

UPHAV7MM Undergraduate Philosophy, Politics and Economics (with Intercalated year)
 Year 4 of V7MQ Philosophy, Politics and Economics (Bipartite) with Intercalated Year
 Year 4 of V7MH Philosophy, Politics and Economics  Economics/Philosophy Bipartite (Economics Major) (with Intercalated year)
 Year 4 of V7MI Philosophy, Politics and Economics  Philosophy/Economics Bipartite (Philosophy Major) (with Intercalated year)
 Year 4 of V7MJ Philosophy, Politics and Economics  Philosophy/Politics Bipartite (with Intercalated year)
 Year 4 of V7MG Philosophy, Politics and Economics  Politics/Economics Bipartite (Politics Major) (with Intercalated year)
This module is Option list B for:

UMAAG105 Undergraduate Master of Mathematics (with Intercalated Year)
 Year 2 of G105 Mathematics (MMath) with Intercalated Year
 Year 3 of G105 Mathematics (MMath) with Intercalated Year
 Year 5 of G105 Mathematics (MMath) with Intercalated Year

UMAAG100 Undergraduate Mathematics (BSc)
 Year 2 of G100 Mathematics
 Year 2 of G100 Mathematics
 Year 2 of G100 Mathematics
 Year 3 of G100 Mathematics
 Year 3 of G100 Mathematics
 Year 3 of G100 Mathematics

UMAAG103 Undergraduate Mathematics (MMath)
 Year 2 of G100 Mathematics
 Year 2 of G103 Mathematics (MMath)
 Year 2 of G103 Mathematics (MMath)
 Year 3 of G100 Mathematics
 Year 3 of G103 Mathematics (MMath)
 Year 3 of G103 Mathematics (MMath)
 Year 4 of G103 Mathematics (MMath)
 Year 4 of G103 Mathematics (MMath)

UMAAG106 Undergraduate Mathematics (MMath) with Study in Europe
 Year 2 of G106 Mathematics (MMath) with Study in Europe
 Year 3 of G106 Mathematics (MMath) with Study in Europe
 Year 4 of G106 Mathematics (MMath) with Study in Europe
 Year 2 of UMAAG1NC Undergraduate Mathematics and Business Studies
 Year 2 of UMAAG1N2 Undergraduate Mathematics and Business Studies (with Intercalated Year)

UMAAG101 Undergraduate Mathematics with Intercalated Year
 Year 2 of G101 Mathematics with Intercalated Year
 Year 4 of G101 Mathematics with Intercalated Year