EC3307 Computational Economics

Academic year

2024 to 2025 Semester 1

Further information on which modules are specific to your programme.

Key module information

SCOTCAT credits

20

The Scottish Credit Accumulation and Transfer (SCOTCAT) system allows credits gained in Scotland to be transferred between institutions. The number of credits associated with a module gives an indication of the amount of learning effort required by the learner. European Credit Transfer System (ECTS) credits are half the value of SCOTCAT credits.

SCQF level

SCQF level 9

The Scottish Credit and Qualifications Framework (SCQF) provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Planned timetable

When confirmed, check online https://timetables.st-andrews.ac.uk/.

This information is given as indicative. Timetable may change at short notice depending on room availability.

Module coordinator

Dr R L Stefanski

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module Staff

R Stefanski

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module description

Economics has an array of very useful and advanced computational tools that are not usually taught at the undergraduate level. To address this issue and to make students familiar, and even proficient, with these tools, this module will present a methods-based computational economics course. We will develop some basic but fundamental economic problems (both macro and micro) and teach students how to solve those problems using a programming language like Mathematica or Matlab. The ability to program is crucial in the modern world and this course will endow students with an invaluable tool as well as an important edge with respect to other economics programs. Students will be given an opportunity to program and to learn to apply their new skills to solving economic problems.

Relationship to other modules

Pre-requisites

BEFORE TAKING THIS MODULE YOU MUST PASS EC3304 OR PASS MT1002

Assessment pattern

Written Examination (In-class Test) = 25%, Coursework = 75%

Re-assessment

Programming Project = 100%

Learning and teaching methods and delivery

Weekly contact

20 hours of lectures over 11 weeks, 1-hour tutorial (x 5 weeks), 2-hour lab (x 2 weeks).

Scheduled learning hours

29

The number of compulsory student:staff contact hours over the period of the module.

Guided independent study hours

171

The number of hours that students are expected to invest in independent study over the period of the module.

Intended learning outcomes

  • Apply the basics of programming and coding to economic problems.
  • Formulate simple economic problems in a computational language 
  • Design and code simple programs from scratch in Mathematica and use this ability to solve a number of economic problems 
  • Find and use key economic data and processes it from a programming language 
  • To analyse the methodological challenges posed and possibilities offered by different computational methods in economics.