Bachelor
2023/2024
Mathematics for Economics and Business
Type:
Compulsory course (HSE University and Kyung Hee University Double Degree Programme in Economics and Politics in Asia)
Area of studies:
Foreign Regional Studies
Delivered by:
Faculty of World Economy and International Affairs
When:
1 year, 1, 2 module
Mode of studies:
offline
Open to:
students of one campus
Instructors:
Ivan Deseatnicov
Language:
English
ECTS credits:
3
Contact hours:
60
Course Syllabus
Abstract
No Pre-requisites required but familiarity with basic algebra and calculus is assumed. Anyone who interested in basic mathematics is always welcome. The course consists of three parts. In the first, we introduce some concepts from linear algebra. The second part is devoted to multivariate calculus constrained static optimization. The last section provides an introduction to differential equations and dynamic systems.This course covers the basic mathematical tools that are used in classical and modern economics analysis and econometrics. By the end of this course, students are expected to master a number of derivations techniques, and this mastering comes only at the price of doing a sizable number of exercise. The instructor is there to help you through the learning process.Critical thinking and the use of models to solve problems is emphasized. There are no other particular prerequisites.
Learning Objectives
- To introduce the key mathematical theories that are applied in economic analysis such as equilibrium analysis, linear algebra and calculus
- To develop the mathematical maturity so that students are not intimidated by mathematical notations and abstractions
- To develop intuition, creativity, critical thinking and problem-solving skills of students
Expected Learning Outcomes
- To solve a quadratic equation
- To get familiar with basic functions like logarithm, exponential and power functions and their properties
- To calculate derivatives and integrals involving functions that are often used in economic analysis
- To understand the concepts of convex and concave sets and the relationship with convex and concave functions
- To understand the basic rules for solving constrained or unconstrained optimization problem
- To understand the basic elements of linear algebra, e.g. singularity and non-singularity of a matrix determinant and inverse of a matrix
Course Contents
- Week 1
- Week 2
- Week 3
- Week 4
- Week 5
- Week 6
- Week 7
- Week 8
- Week 9
- Week 10
- Week 11
- Week 12
- Week 13
- Week 14
- Week 15
- Week 16
Interim Assessment
- 2023/2024 2nd module0.11 * Attendance + 0.4 * Final exam + 0.2 * Homework + 0.29 * Mid-term test
Bibliography
Recommended Core Bibliography
- Fundamental methods of mathematical economics, Chiang, A. C., 1984
- Fundamental methods of mathematical economics, Chiang, A. C., 2005
- Fundamental methods of mathematical economics, Chiang, A. C., 2005
Recommended Additional Bibliography
- 9781292074610 - Knut Sydsaeter; Peter Hammond; Arne Strom; Andrés Carvajal - Essential Mathematics for Economic Analysis - 2016 - Pearson - https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=1419812 - nlebk - 1419812