ECC2551 Mathematical economics
Faculty of Business and Economics
ECC2551 Mathematical economics is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2024 in Semester 2 at Clayton. It has no prerequisites.
- Credit points
- 6
- Offered in 2024
- Semester 2
- Clayton
- Assessment
- Exam 40%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2024 handbook entry. See the 2027 entry.
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Requisites
Before ECC2551
No prerequisites or corequisites besides the enrolment rules below.
After ECC2551
No unit lists ECC2551 as a prerequisite in the 2024 handbook.
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.
Overview
Economic analysis of human interactions within and beyond markets often relies on mathematical models. The ability to utilize the tools and techniques used to construct and analyse mathematical models is becoming increasingly valuable. You will learn the mathematics necessary to construct and analyse models in various sub-fields of economics such as microeconomics, behavioural economics, game theory, industrial organization, public finance, and macroeconomics. You will learn to use basic concepts of sets, relations, and functions to model problems studied in various sub-fields of economics. The techniques used to find the equilibrium outcomes in both strategic and non-strategic contexts will be covered.
Offerings in 2024
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment60%
- Examination40%
Learning outcomes
When you finish this unit, you should be able to:
- 1
use notions of sets, relations, and functions to model problems studied in various sub-fields of economics
- 2
find the equilibrium outcomes in models of strategic interaction
- 3
use single-variable and multi-variable calculus to solve unconstrained and constrained optimization problems
- 4
set up and analyse simple problems involving dynamic optimisation
Workload and teaching
- Seminars24 hours
- Tutorials12 hours
- Teaching approachActive learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Where it fits
ECC2551 is part of 2 areas of study in the 2024 handbook.
Contacts
- Chief Examiners
- Dr Dyuti Banerjee
Common questions
What are the prerequisites for ECC2551?
ECC2551 has no prerequisites, but enrolment rules apply.
When is ECC2551 offered?
In 2024, ECC2551 runs in Semester 2 at Clayton.
How much work is ECC2551?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECC2551 have an exam?
Yes. The exam is worth 40% of the final mark, alongside 1 other task.
Which majors and minors include ECC2551?
ECC2551 is part of Economics and Mathematical foundations of econometrics.