The primary aim of this module is to deepen student understanding of the most important mathematical techniques used in economic analysis through the use of applications, and to enable students to use these skills confidently and independently. The secondary aim is to enable students to understand more easily both the economic principles they are (or will be) doing in other modules on the Economics course and the mathematical principles that underlie the statistical and econometric methods encountered in other modules encountered later in the BSc course.
Pembroke & King's Programme 2019
The objective of the course is to introduce students to the elementary theoretical and mathematical tools used in microeconomic analysis. At the end of the course students should be able (i) to understand and explain the tools, (ii) to use the tools to analyse simple problems in microeconomics, and (iii) to discuss critically the methods used.
The course covers the following topics. How firms make decisions regarding pricing, product design, advertising. How firms make decisions regarding entry, mergers and takeovers, innovation, vertical relation. The welfare effects of firm decisions and market power. Interactions between strategic firms and competition. Abuse of dominance and other socially sub-optimal behaviour by firms, and how to regulate it. Basic methods for using data to analyse firm behaviour.
A summary of the most recent monotone comparative statics results.
"Young man, in mathematics you don't understand things. You just get used to them."