MTHECONM01 Mathematical economics and econometrics

The economic system is too complex to be analysed descriptively. Most economic decisions require strategic thinking, prediction of expected responses corresponding to each decision and the modelling of complex interactions among multiple economic agents. Mathematical modelling of economic interactions and the use of econometric techniques to evaluate the validity of these models using observed data have transformed economics into a scientific discipline. This specialisation will be attractive to those with well-developed analytical abilities. You will use mathematics to learn principles of economics, and to develop skills to formulate economic theories in a mathematical form that can be confronted by data. You will also learn econometric methods to estimate and test these models using empirical evidence and quantify economic predictions.