EF2452Mathematics for Economics and Finance

What you will study

Course overview

This course aims to equip students with a set of fundamental mathematical concepts underlying decision-making in economics and finance. It also aims to develop students’ creativity and originality through various assessment tasks and teaching and learning. The lectures encourage students to develop their discovery ability through in-class discussions, which enhance students’ understanding of mathematical concepts. Students are required to apply fundamental mathematical concepts to solve real world problems in designed scenarios. Only an accurate understanding of the underlying economic concepts can direct which mathematical tools can be applied to the situation. A final interpretation of the numerical solution with economic concepts shows the accomplishment of students’ ability to discover and innovate.

Official PDF, pages 1–2 · Abstract

Course content

Keyword Syllabus Mathematical Concepts: Linear and Non-Linear Functions Systems of Equations Matrix and Linear Algebra Sequences and Series Calculus Univariate Optimization Optimization in Two Variables Constrained Optimization Applications: Consumption Functions Production & Costs Elasticity, Revenues and Profits Supply and Demand Discounting and Net Present Value Pricing of Risky Assets Input-output model

Official PDF, page 6 · Keyword Syllabus

Intended learning outcomes

View official learning outcomes and conditions

Course Intended Learning Outcomes (CILOs)
               CILOs                                              Weighting (if DEC-A1          DEC-A2          DEC-A3
                                                                  app.)
1              Demonstrate proficiency over underlying             40              x             x
               fundamental mathematical tools in economics
               and finance.
2              Identify and apply the requisite quantitative      50              x             x               x
               techniques towards investigating decision-
               making in economics and finance.
3              Analyze economics and financial issues through 10                                 x               x
               a more quantitative approach and provide
               appropriate economic interpretation. Ability
               to innovate and broaden understanding of real
               world economic issues.

A1: Attitude
Develop an attitude of discovery/innovation/creativity, as demonstrated by students possessing a strong sense of curiosity,
asking questions actively, challenging assumptions or engaging in inquiry together with teachers.

A2: Ability
Develop the ability/skill needed to discover/innovate/create, as demonstrated by students possessing critical thinking skills
to assess ideas, acquiring research skills, synthesizing knowledge across disciplines or applying academic knowledge to
real-life problems.

A3: Accomplishments
Demonstrate accomplishment of discovery/innovation/creativity through producing /constructing creative works/new
artefacts, effective solutions to real-life problems or new processes.

Official PDF, page 2 · Course Intended Learning Outcomes (CILOs)

Before you take this course

Check prerequisites, precursors and corequisites separately, together with equivalence and exclusion conditions. “and” means conditions must be met together; “or” marks alternatives. Read combined conditions in the groupings shown in the original text below.

Prerequisites

Nil

Official PDF, page 1 · Prerequisites

Precursors

Nil

Official PDF, page 1 · Precursors

Corequisites

The reviewed official PDF and catalogue page do not state this item.

Additional course requirements

Complete official information for this field is not available.

Equivalent courses and conditions

Nil

Official PDF, page 1 · Equivalent Courses

Exclusive courses and conditions

Nil

Official PDF, page 1 · Exclusive Courses

Assessment and passing the course

Assessment

Continuous assessment: 60%; Examination: 40%; Examination duration: 2 hours

Assessment breakdown

Assessment task	Weight	Generative AI	Remarks and restrictions
Midterm examinationCILO 2, 3	20%	No	Not stated in source row
Assignments, Quizzes, and projectsCILO 1, 2, 3	40%	Yes	You are not allowed to use Generative Artificial Intelligence Tools in an quiz(zes).

Official PDF, pages 3–5 · Assessment Tasks / Activities (ATs)

This source row groups several tasks. Its GenAI column says Yes, while its remark explicitly prohibits generative AI in quizzes. Read both together.

View the original assessment table and instructions

Assessment Tasks / Activities (ATs)
                     ATs                  CILO No.            Weighting (%)   Remarks ("-" for   Allow Use of
                                                                              nil entry)         GenAI?
1                    Midterm             2, 3                 20              -                  No
                     examination
                     The midterm
                     exams will include
                     questions that
                     require students to
                     identify and apply
                     the mathematic
                     tools to solve
                     optimization
                     problems in
                     economics and
                     finance.


2                    Assignments,         1, 2, 3    40   You are not          Yes
                     Quizzes, and                         allowed to use
                     projects                             Generative
                     Students will be                     Artificial
                     asked to complete                    Intelligence Tools
                     an in-course                         in an quiz(zes).
                     assessment which
                     may be in the
                     format of multiple
                     choice, short
                     questions, or long
                     questions. Students
                     must exercise and
                     apply their own
                     judgement using
                     the skills taught in
                     class in order to
                     analyse economics
                     and financial
                     issues through a
                     more quantitative
                     approach.The
                     assignments are
                     designed to help
                     students master
                     the mathematical
                     tools and let them
                     better understand
                     the economic
                     intuitions behind
                     mathematical
                     derivation. Projects
                     are assigned to
                     encourage students
                     to solve real
                     world economic
                     problems
                     or analyse
                     contemporary
                     hot issues. This
                     will stimulate
                     students’ interest
                     and let them get
                     experienced with
                     practical issues.

Continuous Assessment (%)
60

Examination (%)
40

Examination Duration (Hours)
2

Additional Information for ATs


Students are required to pass both coursework and examination components in order to pass the course.

Passing requirements

Must pass both coursework and examination components; no numeric threshold stated.

Official PDF, page 5 · Additional Information for ATs