Module Information

Learning Outcomes

On completion of this module, a student should be able to:
1. evaluate powers of a number where the exponent is positive, negative, whole or fractional;
2. simplify algebraic expressions using the rules of exponents;
3. solve linear and quadratic equations;
4. determine the equilibrium price and quantity for single-commodity and multi-commodity markets;
5. use the function notation, y = f(x);
6. determine the inverse of a function;
7. sketch the graphs of linear and quadratic functions;
8. find the slope of a straight line given any two points on the line;
9. use both notations, f'(x) and dy/dx, for the derivative of a function;
10. differentiate simple polynomial functions and functions of the form f(x) + g(x), f(x)-g(x);
11. evaluate second-order derivatives;
12. calculate marginal revenue and marginal cost;
13. calculate marginal product of labour;
14. calculate marginal propensity to consume and marginal propensity to save;
15. describe the use of the exponential function in economic modelling;
16. sketch graphs involving the exponential function;
17. differentiate the exponential and natural logarithm functions;
18. evaluate logarithms in simple cases;
19. use the laws of logarithms to solve equations;
20. explain how to investigate the returns to scale of a production function;
21. calculate the future value of a principal under monthly, annual and continuous compounding;
22. determine the annual percentage rate of interest given a nominal rate of interest;
23. find and classify the stationary points of a function;
24. find the maximum and minimum points of an economic function.

Brief description

Aims

Content