Module Directory

This module teaches the necessary mathematical techniques required for a modern degree in Economics. It focuses entirely on economics examples so that students not only learn important mathematical skills but also learn how to apply those skills to problems of economic interest. The module starts at a basic level and so is ideal for students with a weak background in mathematics.

The module, however, progresses fairly quickly so that, by the end of the year, the student has the tools to attack relatively sophisticated economics problems. Throughout the year an extra remedial class is provided to help the weakest students keep pace with the module.  This module is an economics course not a mathematics course. It only uses those mathematical techniques which are essential for a modern degree in Economics.

The aims of this module are:

• To teach students the core mathematical techniques required for a modern degree in Economics.


• To show how those mathematical techniques can be usefully applied to the analysis of economics questions of interest.


• To develop and deepen student economic insight.

By the end of this module, students will be expected to be able to:

1. Have a strong grasp of fundamental mathematical concepts.


2. Solve elementary economics problems and so obtain a more sophisticated understanding of economic principles.


3. Demonstrate their problem-solving skills to solve real economic problems via the test and assignments.

Skills for your Professional Life (Transferable Skills)

1. Analytical reasoning.


2. Conceptualisation.


3. Model building.


4. Mathematical operations.


5. Interpretation of maths.

This course is designed to complement, EC114, Introduction to Quantitative Economics.

First year students with a background in mathematics may substitute EC115 for a more advanced course, MA101, offered by the Department of Mathematical Sciences with permission from the department.

Students at Essex only for the Autumn term only are assessed on the basis of at least two pieces of work (assignments or tests), the average of which is the final mark for the course.

Feedback for this module will occur through class meetings which will go over the answers to problem sets and where you will be able to ask questions about your own answers. Model answer sets will be posted on the website for explicit guidance on appropriate solution methods.

Following each midterm test, there will also be a dedicated class to going over the questions posed and where students have the opportunity to discuss their own answers. There is an additional weekly support class for the weaker students who want the opportunity for closer feedback. Lecturers and GTAs also hold office hours where students can discuss their work

The module will be delivered via:

• One 1-hour lecture per week which is compulsory for those students without A-level Mathematics (or equivalent). These lectures will start at a very basic level and offer ideal maths tuition for students with a weak maths background.
• A voluntary support class for students who would like more help with their mathematical skills. The support class operates a bit like "school" where students work through math exercises at their own pace and ask for help when stuck.
• One 2-hour lecture per week which is compulsory for all Ec115 students. These lectures focus more on economic applications. It will consider many of the same issues also taught in the core Microeconomics modules, but with a more mathematical approach. Students with A-level mathematics should find the mathematics simple but the focus on economic applications makes the module important for developing economic insight.
• One 1- hour class per week which all students are required to attend. The class will work through a problem set which sets questions based on the material taught in the previous week's lecture.

After each lecture, the lecture notes are posted online at moodle.essex.ac.uk [Economics Ec115], along with a problem set which students must attempt for class the following week. Answers to the problem sets are also posted online but only at the end of the class week.

The voluntary support class is open to everyone but is intended for those who find the material difficult and for those without A-level mathematics. The support class works through the Jacques textbook (described below). The support class will also provide additional preparation for the Midterm tests.

By the end of the module the successful student will not only have a good grasp of fundamental mathematical concepts but also a sophisticated understanding of economic principles. Students who do not attempt the problem set questions, however, and instead just "learn" the posted answers typically not do well in the final exam. Students who find the material challenging really should attend the voluntary support class [sooner rather than later]. Forming study groups is also highly recommended.

Reading Materials.

There are two recommended textbooks. The voluntary support class will be working through the Jacques textbook which is pitched at a more accessible level for those without A-level maths (or equivalent qualification). The one-hour lecture series is based on this book [any second hand edition is fine - maths at this level has not changed in 200 years].

Textbook for student without A-level maths is:

• Ian Jacques Mathematics for Economics and Business, [currently Pearson]

The two-hour lecture and associated problem sets are self-contained and do not follow any particular book. Those with A-level mathematics might find the Renshaw book useful for support and additional practice questions with worked answers.

More extensive (advanced) supporting textbook is:

• Geoff Renshaw Maths for Economics, Oxford University Press.