QUANTITATIVE METHODS | Makerere University Courses

Course Code:

AEC 7103

Course Credit Units:

3

Semester:

Semester 1

Year of Study:

Year 1

Undergraduate or Graduate Level:

Graduate Level

Academic Programs:

Master of Science in Agric Economics

College:

College of Agricultural and Environmental Sciences

School:

School of Agricultural Sciences

Department:

Agribusiness & Natural Resource Economics

Course Discipline:

Economics

Course Description & Objectives:

The course shall entail the following: Application of sets, functions and linear algebra, Application of differential and integral calculus in economics, Application of differential and difference equations in economics, Elements of linear and nonlinear programming, Optimization and dynamic analysis OBJECTIVES:The general purpose of the course is to enable the students to understand the necessary mathematical concepts for Economics and apply them in economic models of the national and regional economy. The specific objectives are:

To equip the students with knowledge and skills to enable them apply mathematics in economic analyses;
To enable students use mathematics to understand the structure of economics.
To facilitate the student to carry out both quantitative and qualitative analysis of economic systems;
To provide a framework for enabling the student to see the application of mathematical techniques to economics through examples.

Learning Outcomes:

At the end of the course, the student will be able to:

Apply concepts of functions and linear algebra in developing and using basic economic models;
Apply calculus techniques (differential and integral) in maximization and minimization problems as well as marginal analysis and elasticity;
Apply differential and difference-based techniques in developing dynamic economic models;
Identify and solve optimisation problems in Agricultural Economics using various optimality criteria based on deterministic functions; and
Solve optimisation problems for dynamic systems using various optimality criteria.
Learn how to use and apply mathematics to develop new concepts and techniques in Economics