Analytical and Computational Foundations
This module will introduce you to three core concepts and techniques that underpin all maths modules in your degree. These are mathematical reasoning (the language of maths and providing concrete proof of mathematical theorems), an introduction to the computer package MATLAB (its use and application), and basic analysis methods. You will have two hours of lectures per week combined with computer workshops, problem classes and tutorial support.
In this module, you will begin by practising the basic concepts and methods of calculus including limits, functions, continuity, Taylor series, and Laplace transforms. In the second semester you will move onto more advanced usage of calculus. Topics will be based around the calculus of functions of several variables and include partial derivatives, chain rules, the vector operator grad, Lagrange multipliers and multiple integrals. This module is taught in two hours of lectures per week combined with problem classes and tutorial support.
This module introduces you to the methods and practices of linear mathematics that you will need in subsequent modules on your course, such as complex numbers, vector algebra and matrix algebra. You will then expand your knowledge to include vector spaces, linear transformations and inner product spaces through two hours of lectures per week combined with problem classes and tutorial support.
This module provides an introduction to probability by developing a framework for the logic of uncertainty. Random variables and the topics surrounding them will also be introduced. You will spend two hours in lectures per week.
This module offers you the chance to learn about a range of statistical ideas and skills. In addition, concepts and techniques for modelling and practical data analysis skills will be taught. You will learn to write reports based on these topics which will help you in further studies. You will have a combination of lectures, problem classes and workshops totalling around four hours per week.
Introduction to Microeconomics
You will be introduced to microeconomics, including behaviour of firms and households in situations of competitive and imperfectly competitive markets. You will spend around three hours in lectures and have a one hour tutorial each week.
Introduction to Macroeconomics
You will be introduced to modern macroeconomic analysis including issues such as growth and employment, wage and price dynamics and consumption and saving behaviour. You will learn about the two main modern schools of macroeconomic thought: 'New Classical' and 'Keynesian'. You will have four hours of lectures and seminars each week.
Introduction to Numerical Methods
In this year-long module you will be introduced to basic techniques in numerical methods and numerical analysis. You will build upon your core year one modules to generate approximate solutions to problems that may not be easy to analyse on paper. There will be a wide range of topics including: iterative methods for nonlinear equations, discussion of errors (including rounding errors), polynomial interpolation and orthogonal polynomials. You will spend two hours per week in lectures and one hour per week in computer labs.
Probability Models and Methods
This module will give you an introduction to the theory of probability and random variables, with particular attention paid to continuous random variables. Fundamental concepts relating to probability will be discussed in detail, including well-known limit theorems and the multivariate normal distribution. You will then progress onto complex topics such as transition matrices, one-dimensional random walks and absorption probabilities. For this module you will spend three hours per week in lectures and workshops.
Statistical Models and Methods
The first part of this module provides an introduction to statistical concepts and methods and the second introduces a wide range of techniques used in a variety of quantitative subjects. The key concepts of inference including estimation and hypothesis testing will be described as well as practical data analysis and assessment of model adequacy. You will have a combination of lectures, example and problem classes each week.
You will study intermediate microeconomics including general equilibrium analysis, welfare economics, elementary game theory, and strategic behaviour of firms. You will have a combination of lectures and modules totalling around three hours each week.
This module will provide you with a foundation for the monetary economics modules in year three, which compliments financial economics in years two and three. It will cover topics such as the definitions and role of money, portfolio choice, financial markets and banks, central banks and monetary policy, and the monetary transmission mechanism. Under these headings you will address issues of theory, policy and practice relating to recent experience in the UK and other countries. You will spend around three hours per week in lectures and tutorials.
Coding and Cryptography
In this module you will be introduced to two main topics of coding theory; error-correction codes and cryptography. Within these topics you will learn the main concepts, theorems and techniques and practise applying these with specific example. You will have two hours of lectures each week.
In this module you will explore the connection between numbers and games and how games can be analysed. You will learn about the algorithms of gaming, stemming from many areas of mathematics and computing. You will be able to use the mathematical knowledge you have gained so far on the course to analyse various situations in a logical manner, practising strategic decision-making. You will spend two hours per week in lectures.
In this module the concepts of discrete time Markov chains are explored and used to provide an introduction to probabilistic and stochastic modelling for investment strategies, and for the pricing of financial derivatives in risky markets. You will gain well-rounded knowledge of contemporary issues which are of importance in research and applications. For this module there will be a combination of lectures, example and problem classes for around four hours each week.
In this module you will explore two main concepts of statistical inference; classical (frequentist) and Bayesian. Topics include: sufficiency, estimating equations, likelihood ratio tests and best-unbiased estimators. You will gain knowledge of the theory and concepts underpinning contemporary research in statistical inference and methodology. For this module there will be a combination of lectures, example and problem classes for around four hours each week.
In this module you will develop your knowledge of discrete-time Markov chains by applying them to a range of stochastic models for use in natural sciences and scientific industries. You will be introduced to Poisson and birth-and-death processes and then you will move onto more extensive studies of epidemic models and queuing models with introductions to component and system reliability. For this module there will be a combination of lectures, example and problem classes for around three hours each week.
Topics in Statistics
In this module you will build on your knowledge from previous modules by covering three main topics relating to statistics, sequential analysis, multivariate analysis and designed experiments. The skills you build will be of relevance to a professional statistician. You will have four hour lectures each week.
Advanced Financial Economics
You will examine issues related to the impact of financial frictions on the financial system and the economy. Topics studied include: the effects of financial constraints on the ability of firms to raise funds from different sources, the impact of financial constraints on consumer credit, and the role of financial intermediaries. You will spend around three hours each week in lectures and tutorials.
Advanced International Trade Theory
You will study topics such as the models of intra-industry trade, trade policy in oligopolistic industries, mathematical enterprises and testing trade theories. You will spend around three hours per week in lectures and tutorials.
Advanced Public Economics
In this module you will be introduced to some major themes of public economics, using microeconomic tools to analyse public policy. The equity and efficiency implications of policies will be examined within an economic framework through. You will spend around three hours each week in lectures and tutorials.
You will be introduced to health and health economics, health care as a commodity (Grossman model, market complications such as rationality, externalities, uncertainty), implications of health and health care demand (prices, insurance, supply-induced demand, consumer protection), health behaviour (illness prevention, such as tobacco smoking, vaccination, cancer screening), economic aspects of the UK National Health Service (excess demand, efficiency, equity), health care supply (factor substitution, economies of scale, technology diffusion) and international aspects of health care. You will spend around three hours each week in lectures and tutorials.
Numerical Methods in Economics
You will focus on static numerical methods, dynamic numerical optimization and agent-based economic modelling. Example topics include: numerical solution methods, dynamic numerical optimization, discrete dynamic programming and the foundations of agent-based modelling. You will spend around three hours each week in lectures and tutorials as well as spending an hour each week in computer classes.
The modules we offer are inspired by the research interests of our staff and as a result may change for reasons of, for example, research developments or legislation changes. The above list is a sample of typical modules we offer, not a definitive list.