how much maths in eco? (1 Viewer)

[daiana]

i heard that microeconomics has a lot of stats, but macro isn't so much

maths isn't my particular forte, so i'm concerned about doing a BEc.

please enlighten

 

[Sarah168]

to do B ec or major in ec, you would have to both micro and macro anyway isnt it?

 

[daiana]

yea for first and second yr it's compulsory, but i wanna know how much maths?!

 

[§eraphim]

if u continue to do a major in econ, u will end up doing some econometrics subjects - applied stats for economists.

 

[loquasagacious]

So its really only stats then?

What about calculus?

 

[§eraphim]

So its really only stats then?

What about calculus?

statistics implicity implies having an introductory knowledge of university-level calculus and algebra

 

[daiana]

and what does "univeristy level" maths mean? statistics, algebra...matrix..*shivers*

for micro1 and macro1, do u need maths for that?

 

[§eraphim]

no, but for econometrics they will teach you all the relevant material as the course progresses. dont worry about the quantitative methods subjects in 1st yr commerce - theyre dead easy...especially when compared to 'maths for actuarial studies for finance' 1a and 1b!

 

[Grizzly]

i duno about econometrics at unsw (econ2206 i think), but at mq, econometrics is VERY easy in regards to maths.
most maths stems from making econometrics models, which take forms of linear or log-log models - which, r y = ax + bx + cx + ....
so, you basicaly substitute a , b and c values into the variables of the model.

 

[daiana]

so stick in the variables? and *ta-da* i've got a dead set correct answer?

oh i'm paranoid coz i'm gonna walk in, and think "crap i'm competing with people who excelled in 4u maths"...i'm so insecure about maths- coz in maths one cant bs ... oh i miss english =(

 

[loquasagacious]

Well maths has never been my strong point, if its as simple as you say I should pick it up. I'm going to enrol in a bridging course anyway though.

 

[Grizzly]

so stick in the variables? and *ta-da* i've got a dead set correct answer?

oh i'm paranoid coz i'm gonna walk in, and think "crap i'm competing with people who excelled in 4u maths"...i'm so insecure about maths- coz in maths one cant bs ... oh i miss english =(

there is so much more theory required in econometrics...
u basically look at samples that are plotted (in a linear or log fashion), identify them (heterosked../ multi colinear...etc) state their implications , and distinguish which is a better model to fit.

Because econometrics uses stats, MOST stats outputs are given as a screenshot of excel, (using a program that mq uses "ecstat" , an add-on to excel)
some basicaly calculator is required.
memory of forumlas is not required.

 

[Minai]

You have more to worry about in 1st year QMA and QMB.
QMA is matrix algebra, linear programming and some more advanced calculus than from 2u in year 12.
QMB is basically regression and review of simple stats from year10.

It's not hard if you apply yourself and go to regular PASS classess for extra help.

 

[daiana]

memory of forumlas is not required.

are u kidding?
wow, so economists use the computer A LOT!

oh yes, i know that ur not doing economics/econometrics as ur major (from ur signature), but is it necessary to do acct for eco/econ ?

 

[Minai]

are u kidding?
wow, so economists use the computer A LOT!

oh yes, i know that ur not doing economics/econometrics as ur major (from ur signature), but is it necessary to do acct for eco/econ ?

you have to do 1st year accounting

 

[daiana]

It's not hard if you apply yourself and go to regular PASS classess for extra help.

yea but i can't do QMA,QMB (Arts) until yr 2, coz i'm starting to doubt myself to get D average to transfer to Bec/BA.

should i go to do a bridging program for maths then? i did do 2u hsc maths, not general.

 

[Minai]

yea but i can't do QMA,QMB (Arts) until yr 2, coz i'm starting to doubt myself to get D average to transfer to Bec/BA.

should i go to do a bridging program for maths then? i did do 2u hsc maths, not general.

Ah I see.

There isn't much maths then, its only QMA and QMB that is maths.
1st year economics has virtually zero maths, so too accounting (you only need a calculator to add up numbers)

 

[loquasagacious]

One up on me lol I dropped to general, in retrospect quite a bad decision.