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:	2021/2
Module lecturers:	Dr Szabolcs Deak - Convenor
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
	0
	0
	0
	0

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