Mathematics for Economics on the IFP
This subject is compulsory if you want to continue on to a degree in economics or a related subject and must be taken together with Economics on the IFP. In the first semester you study Pure Mathematics for Economics and in the second semester Statistics for Economics.
Why do this subject?
This subject will provide a grounding in the essential mathematical skills required for success in a degree in an economics-related degree. Mathematics is an intellectually challenging discipline which is at the heart of many university degrees and is also highly valued by employers. In addition to mathematical knowledge and skills, students will also develop their communication and analytical skills and their ability to present and interpret complex data.
What do you study?
Pure Mathematics for Economics provides you with a comprehensive preparation in basic pure mathematical skills needed for an undergraduate degree in economics or a related field. Topics include algebra, simultaneous equations, quadratic equations, differential calculus, integration and partial derivatives. In Statistics for Economics you receive an introduction to the statistics needed for a degree in economics of a related field and there is a strong focus on relating statistics to economic problems.
How are you taught?
You are taught through a combination of lectures and seminars and are encouraged to develop your confidence in applying knowledge in a rigorous way.
How are you assessed?
You are assessed through a series of written tests.
Who teaches the subject?
Mathematics for Economics is taught by Dr Elmina Homapour. Elmina completed her MSc in Financial Economics and she has jsut completed her doctorate in applied economics. The main focus of her current research is macroeconomics conditions and firms’ capital structure in the UK. She is also broadly interested in quantitative methods, econometrics and applied economics focusing on panel data and time series data.
What else should you know?
Mathematics for economics on the IFP is taught at A-level mathematics standard and you should have a good level of high school mathematics. You take a diagnostic test during the IFP induction week so that they can gauge you level. You also need to have a reasonable level of language in order to do well on this module as the module focuses on the application of mathematics to economics.
Schaum's Outline of Mathematical Methods for Business and Economics (2009) and Schaum's Outline of Statistics (2011) are both useful titles which will help prospective students prepare for this module.
Greg Mankiw's inspirational blog explains the importance of mathematics to aspiring economists.
If you take this module, you may apply to a range of undergraduate programmes within the School of Mathematical Sciences at Queen Mary.
