Master
2021/2022
Mathematics for Economists
Type:
Elective course
Area of studies:
Economics
Delivered by:
Department of Mathematical Economics
Where:
Faculty of Economics
When:
1 year, 4 module
Mode of studies:
distance learning
Open to:
students of one campus
Master’s programme:
Economics
Language:
English
ECTS credits:
3
Contact hours:
2
Course Syllabus
Abstract
This course is an important part of the undergraduate stage in education for future economists. It's also useful for graduate students who would like to gain knowledge and skills in an important part of math. It gives students skills for implementation of the mathematical knowledge and expertise to the problems of economics. Its prerequisites are both the knowledge of the single variable calculus and the foundations of linear algebra including operations on matrices and the general theory of systems of simultaneous equations. Some knowledge of vector spaces would be beneficial for a student.
Learning Objectives
- The objective of the course is to acquire the students’ knowledge in the field of mathematics and to make them ready to analyze simulated as well as real economic situations.
Expected Learning Outcomes
- Students apply Weierstrass theorem.
- Students give definition for main concepts of the set theory.
Course Contents
- The basics of the set theory. Functions in Rn
- Differentiation. Gradient. Hessian.
- Implicit Function Theorems and their applications.
- Global extrema. Constrained optimization with inequality constraints.
- Kunh-Tucker conditions. Homogeneous functions.
- Unconstrained and constrained optimization.
- Constrained optimization for n-dim space. Bordered Hessian.
Bibliography
Recommended Core Bibliography
- Sydsæter, K., & Hammond, P. J. (2016). Essential Mathematics for Economic Analysis (Vol. Fifth edition). Harlow, United Kingdom: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1419812
Recommended Additional Bibliography
- Anthony, M., & Biggs, N. (1996). Mathematics for Economics and Finance : Methods and Modelling. Cambridge [England]: Cambridge eText. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=510977