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ECO2017 : Mathematical Economics

  • Offered for Year: 2024/25
  • Module Leader(s): Dr Francis Kiraly
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus

Your programme is made up of credits, the total differs on programme to programme.

Semester 1 Credit Value: 10
ECTS Credits: 5.0
European Credit Transfer System


The aim of the module is to present in detail and apply further mathematical tools and methods used in economic analysis.

Outline Of Syllabus

1.       Mathematical thinking in economics
2.       Friends and foes in economics
3. Relationships in economics
4.       Choice and optimisation in economics
5.       Equilibrium in economics
6.       Uncertainty in economics
7.       Time in economics

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion130:0030:00N/A
Scheduled Learning And Teaching ActivitiesLecture151:0015:00PIP lecture
Guided Independent StudyDirected research and reading133:0033:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching31:003:00PIP seminars
Guided Independent StudyIndependent study119:0019:00N/A
Teaching Rationale And Relationship

Lectures materials provide the mathematical formalisation of a particular economic question or situation, together with the relevant analysis.

Small group teaching allows students to practice, develop and demonstrate their skills in using these analytical methods.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
Written Examination1201A100N/A
Formative Assessments

Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.

Description Semester When Set Comment
Prob solv exercises1MProblem Solving Exercises, followed by group feedback.
Assessment Rationale And Relationship

The exam tests understanding of mathematical concepts and methods used in economic models, as well as the capacity to use these analytical techniques in various applications.

Learning outcomes can only be assessed through a problem-based analytical/formal written exam.

Alternative assessment for Study Abroad students: 2 hour unseen written exam.

Reading Lists