Module
Research Methods I
Module description
This module provides an introduction to the techniques involved in optimization.
Full module specification
| Module title: | Research Methods I |
|---|---|
| Module code: | BEEM136 |
| Module level: | M |
| Academic year: | 2020/1 |
| Module lecturers: |
|
| Module credit: | 15 |
| ECTS value: | 7.5 |
| Pre-requisites: | Only available to MRes Economics PhD pathway |
| Co-requisites: | None |
| Duration of module: |
Duration (weeks) - term 1: 11 |
Module aims
This module aims to provide a thorough introduction to the techniques involved in optimisation required to take PhD level Economics courses. Topics include advanced calculus, dynamic programming, difference equations and linear algebra.
ILO: Module-specific skills
- 1. demonstrate and derive rigorous mathematical proofs.
- 2. work with abstract mathematical concepts.
- 3. solve economic optimisation problems.
ILO: Discipline-specific skills
- 4. read and work with current economic research papers.
- 5. critically analyse the logic of economic arguments.
- 6. use and analyse economic models.
ILO: Personal and key skills
- 7. demonstrate numeracy skills and handle logical and structured problem analysis.
- 8. demonstrate inductive and deductive reasoning.
- 9. apply essential research skills.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 32 | 118 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled learning and teaching activities | 22 | Lectures |
| Scheduled learning and teaching activities | 10 | Tutorials |
| Guided independent study | 118 | Reading, preparation for classes and assessments |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Practice Problems | Varies | 1-9 | Oral/Written |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 30 | 70 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Examination | 70 | 2 hours | 1-9 | Oral/Written |
| Average of weekly problem sets | 30 | Weekly problem sets with 3 questions each | 1-9 | Oral/Written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Problem sets and Examination | Examination 100% (2 hours) | 1-9 | August examination period |
Syllabus plan
- Basics of linear algebra: determinant, linear dependence and rank of a matrix, inverse of a matrix, determinant of a matrix, eigenvalues and eigenvectors, trace of a matrix, quadratic forms
- Calculus: differentiation, integration, Taylor expansion, concavity and convexity, quasi-concavity and quasi-convexity
- Optimization: unconstrained optimization, constrained optimization with equality constraints (Lagrange), constrained optimization with inequality constraints (Kuhn-Tucker)
- Comparative statics and fixed points: envelope theorem, implicit function theorem, correspondences, fixed point theorems
- Dynamic programming
- First-order differential equations
Indicative learning resources - Basic reading
- Knut Sydsæter, Peter Hammond, Arne Størm, and Andrés Carvajal (2016): Essential Mathematics for Economic Analysis, 5th edition, Pearson
- Knut Sydsaeter, Peter Hammond, Atle Seierstad, and Arne Strøm (2008): Further Mathematics for Economic Analysis, 2nd edition, Pearson
- Daniel Leonard and Ngo van Long (1991): Optimal Control Theory and Static Optimization in Economics, Cambridge University Press
- Jianjun Miao (2014): Economic Dynamics in Discrete Time, MIT Press
Module has an active ELE page?
Yes
Origin date
24/06/2019
Last revision date
02/09/2020