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Mathematical Economics

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.