Understanding the ‘why’ behind economic problems The Mathematical Economics track looks in-depth at theories such as Game Theory and Equilibrium Theory, including industrial organisation, in order to solve real-world problems. Mathematical Economics can help solve issues such as company collusion, optimal control of renewable stock and how to stay ahead of the competition.
Game Theory One of the theories you will cover is Game Theory. In order to use it to solve an economic problem, you first need to model the problem by abstracting it. You can then solve the problem using the model, before translating the solution back from the abstract into the real-life situation.
One of the problems that mathematical economists are currently trying to solve using this method is that of collusion between companies. Competing companies Pepsi and Coca Cola are an example: should they make mutually beneficial agreements, lower their prices, increase their marketing, find cheaper materials or restructure their organisation? As a Mathematical Economics student, you will use theoretical modelling to answer these questions.
Mathematical Economics is a 1-year, full-time programme and is taught entirely in English. Graduates will a master's degree in Econometrics and Operations Research with a specialisation in Mathematical Economics.
Mathematical methods can be used to solve a whole range of business problems, from a company’s finances to the organisation of its people. In order to do this strategically, the Mathematical Economics track looks at theories and models that can help you make the right decisions.
What will you learn? Mathematical Economics is certainly a theoretical track. But it’s also about solving real business problems, which means that you’ll learn about more than just the academic theories. You’ll also learn about business issues such as resources (both human and material), finance and organisational structure (both internal and external).
At the end of the track, you will be able to:
• apply theoretical models to solve business problems • take educated decisions on resources, finances and organisational structure
Do you have the ambition to become a leading financial analyst or a top manager? A qualification in Mathematical Economics gives you the potential to do just that. The skills you will acquire include the ability to analyse problems quickly and assess them accurately. These skills are hugely valued in any industry, and will give you the potential to become one of the managers of the future.
Graduates have found positions in:
- analyst firms - technical roles - senior management in any industry - universities to do a PhD, either to obtain a further qualification or to embark on an academic career