EC116-Introductory Mathematics for Economics 1

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Level:4
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites: GCSE Maths Level 6
Co-requisites:
Modules excluded: IC104 Introductory Quantitative Techniques for Business and Finance
Current from: 2020/1

Module Convenor: Dr Yutong Li

Email: y.li22@reading.ac.uk

Type of module:

Summary module description:
This module provides an introduction to the mathematical concepts which are of key importance in economics and to which reference is made in compulsory taught modules for single and joint degree programmes in the Department of Economics.

Aims:
This module provides an introduction to the mathematical concepts which are of key importance in economics and to which reference is made in compulsory taught modules for single and joint degree programmes in the Department of Economics. It aims to enable students whose background in mathematics is less rigorous to understand and use mathematical notation and techniques in the particular application to economic theory.

Assessable learning outcomes:
At the end of the module, students should:
(i) develop an understanding of the relevance of mathematics in economics;
(ii) handle with confidence and accuracy the techniques of algebra and calculus required for the solution of economic equations;
(iii) interpret a range of economic problems and select the appropriate procedure for solution.

Additional outcomes:

Outline content:
Topics covered include linear and quadratic equations, logarithms and exponentials, graphical analysis, derivatives of functions of a single variable and an introduction to partial differentiation and simple optimisation.

Global context:

Together with the ‘Introductory Quantitative Methods for Economics and Business 1’ (EC115) this module develops the quantitative background for the joint honours study of economics. Taken together with the ‘Introductory Quantitative Methods 2 and Study Skills’ (EC120) and ‘Introductory Mathematics for Economics 2’ (EC121) this module develops the quantitative background for single honours study of economics.


Brief description of teaching and learning methods:

Lectures will cover all the main module material with reference to text made where appropriate. Students will also be expected to attend workshop classes with prepared exercises for discussion of solutions. Students are required to take notes in lectures and tutorials to supplement materials provided. * Based on an initial assessment in week 1 some students will be required to attend additional compulsory classes in the autumn term. These classes will be timetabled as deemed necessary and wil l also occur in week 6.


Contact hours:
  Autumn Spring Summer
Lectures 20 1
Tutorials 9
Guided independent study: 51 19
       
Total hours by term 80 20
       
Total hours for module 100

Summative Assessment Methods:
Method Percentage
Written exam 60
Written assignment including essay 10
Set exercise 10
Class test administered by School 20

Summative assessment- Examinations:
One 2-hour unseen written paper.
Part 1 examinations are held in the Summer term.

Summative assessment- Coursework and in-class tests:
Coursework has a total weight of 40% in the final assessment.

A written assignment/essay will count for 10% of the final mark. Assessment integrates mathematical technique with selected topics in microeconomics.

A number of online set exercises will contribute 10% of the final mark.

There will be 5 in-class tests. The in-class test in week 1 is the basis on which student are allocated to the additional lecture hours (see * above). The four remaining in-class tests will each contribute 5% to the overall module mark.

Formative assessment methods:
Tutorial exercises are the basis for formative feedback.

Penalties for late submission:

The Module Convenor will apply the following penalties for work submitted late:

  • where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day[1] (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.
The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:
A weighted minimum overall mark of 40%.

Reassessment arrangements:
Re-examination for Part 1 modules takes place in August/September of the same year. Reassessment is by examination only (coursework will not be included in the re-assessment).

Additional Costs (specified where applicable):

1) Required text books: Mathematics for Economics and Business WITH MyMathLab latest edition (9e released July 18) Ian Jacques Pearson 978-1-292-19166-9 (current price £50).

2) Specialist equipment or materials:

3) Specialist clothing, footwear or headgear:

4) Printing and binding: There may be optional costs associated with photocopying or printing sources listed on the reading list relating to this module. Please note that the Library charges approximately 5p per photocopy.

5) Computers and devices with a particular specification:

6) Travel, accommodation and subsistence: 


Last updated: 18 August 2020

THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.

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