MATHEMATICAL ECONOMICS

This line of study is a consequence of modern day's increased use of mathematical models for explaining Economic Theory. It is first and foremost a programme in Economics in which Mathematics plays a very important role.

The aim of this line of study is to facilitate independent economic analysis for private and public organisations but it should also be a useful starting point for research projects in Economics.

ORGANISATION OF TEACHING

The courses offered in part 1 are: Managerial Economics, Political Economics, Mathematics, Probability Theory, and Computer Science.

Managerial Economics deals with fundamental managerial economic problems and presents ways of analysing these cost accounting, investment, and finance theories. The teaching of Political Economics is divided into two parts. Microeconomics deals with small-scale economic factors such as individual commodities, producers, consumers, etc. Macroeconomics deals with large-scale or general economic factors such as government income and expenditure, the balance of payments, employment levels, inflation, national productivity, and ideas about an open economy.

Part 2 has obligatory courses in the Theory of Probability and Statistics as well as going further with the subject matter from Part 1. Students can put together their own combination of courses with advice from a supervisor. There are four directions to choose from: Operations Research, Mathematical Finance, Planning, and Political Economics. A final thesis is required.

TEACHING

For Part 1, teaching takes the form of lectures and theoretical exercises. Lectures for first year students are held in auditoriums, while theoretical exercises are held for groups of about 20 students. The latter typically involves exercises, and each group is supervised by an instructor.

For Part 2, teaching is a combination of lectures to smaller groups, seminars, and exercises.

FURTHER INFORMATION

Further information may be obtained by contacting the Student Counselling for Science. See page 48.