QUANTITATIVE METHODS AND TOOLS

ECO4QMT

Not currently offered

Credit points: 15

Subject outline

In this subject you are introduced to quantitative tools such as MATLAB/MATHEMATICA used to undertake quantitative research in economics and/or econometrics. Applications using MATLAB/MATHEMATICA packages scripts are presented. You will be introduced to the mathematics used in Dynamic Programing and are shown how to apply these techniques using MATLAB/MATHEMATICA. Applications in microeconomics, macroeconomics and/or econometrics are covered.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorJoanna Poyago-Theotoky

Available to Study Abroad StudentsYes

Subject year levelYear Level 4 - UG/Hons/1st Yr PG

Exchange StudentsYes

Subject particulars

Subject rules

Prerequisites ECO2CFC and ECO2MFG and ECO1IQN, or with approval of subject coordinator.

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsOptimization in Economic TheoryPreliminaryDixit, A.K., 1990Oxford University Press
ReadingsMatlab: A Practical Introduction to Programming and Problem SolvingRecommendedAttaway, S.Elsevier
ReadingsFurther Mathematics for Economic AnalysisPrescribedSydsaeter, K., Hammond, P., and Strom, A., 2008 (2nd edition)Pearson
ReadingsThe Mathematica CookbookRecommendedMangano, S., 2010O' Reilly

Graduate capabilities & intended learning outcomes

01. Demonstrate an understanding of algebra and calculus for solving optimization problems

Activities:
Laboratory Classes, Assignments
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

02. Demonstrate an understanding of, and apply, basic MATLAB scripts and/or MATHEMATICA notebooks

Activities:
Laboratory Classes, Assignments
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

03. Demonstrate an understanding of numerical solutions in applications that involve quantitative economic or econometric problems

Activities:
Laboratory Classes, Assignments
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

04. Use MATLAB or MATHEMATICA to obtain numerical solutions in economic and/or econometric applications involving dynamic programming.

Activities:
Laboratory Classes, Assignments
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

05. Apply dynamic programming to solve problems in macroeconomics and microeconomics.

Activities:
Laboratory Classes, Assignments
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

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