| Course Name | Mathematical Economics II |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ECON 214 | Fall/Spring | 3 | 0 | 3 | 6 |
| Prerequisites | None | |||||
| Course Language | English | |||||
| Course Type | Elective | |||||
| Course Level | First Cycle | |||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | ||||||
| Course Coordinator | - | |||||
| Course Lecturer(s) | ||||||
| Assistant(s) | - | |||||
| Course Objectives | The objective of the course is to introduces students to the most important elements of dynamic analysis used in economics. Specifically, methods for continuous and discrete time will be introduced. With the tools acquired on first and higher order differential and difference equations, simultaneous dynamic systems will be explored and stability analysis will be undertaken. Finally, dynamic optimization will be studied with special focus on optimal growth theory. These will be utilized in analyzing several dynamic models in economics. |
| Learning Outcomes | The students who succeeded in this course;
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| Course Description | The following topics will be covered: First order differential and difference equations, higher order differential and difference equations, simultaneous systems of higher order equations, stability analysis. |
| Related Sustainable Development Goals | |
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| Core Courses | |
| Major Area Courses | ||
| Supportive Courses | X | |
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Multi Variable Functions and Optimization | Chiang (2005), Chapter 11 |
| 2 | Multi Variable Functions and Optimization: Economic Applications | Chiang (2005), Chapter 11 |
| 3 | Optimization with Equality Constraints | Chiang (2005), Chapter 12 |
| 4 | Lagrange Multiplier and Constrained Optimization | Chiang (2005), Chapter 12 |
| 5 | Lagrange Multiplier and Constrained Optimization : Economic Applications | Chiang (2005), Chapter 13 |
| 6 | Constrained Optimization : Envelope Theorem and Economic Applications | Chiang (2005), Chapter 13 |
| 7 | Constrained Optimization and Kuhn Tucker Condition | Chiang (2005), Chapter 13 |
| 8 | Midterm Exam | |
| 9 | Economic Dynamics and Integral | Chiang (2005), Chapter 14 |
| 10 | First-Order Differential Equations | Chiang (2005), Chapter 15 |
| 11 | Second Order Differential Equations | Chiang (2005), Chapter 16 |
| 12 | First Order Difference Equations | Chiang (2005), Chapter 17 |
| 13 | Second Order Difference Equations | Chiang (2005), Chapter 18 |
| 14 | Midterm Exam | |
| 15 | Simultaneous Differential Equations and Difference Equations | Chiang (2005), Chapter 19 |
| 16 | Optimal Control Theory and Economic Applications | Chiang (2005), Chapter 20 |
| Course Notes/Textbooks | Chiang, A.C., Fundamental Methods of Mathematical Economics, McGraw Hill, 2005, 4th Ed. |
| Suggested Readings/Materials |
| Semester Activities | Number | Weigthing |
| Participation | 16 | 10 |
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | 4 | 20 |
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exam | ||
| Midterm | 2 | 40 |
| Final Exam | 1 | 30 |
| Total |
| Weighting of Semester Activities on the Final Grade | 22 | 70 |
| Weighting of End-of-Semester Activities on the Final Grade | 1 | 30 |
| Total |
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Course Hours (Including exam week: 16 x total hours) | 16 | 3 | 48 |
| Laboratory / Application Hours (Including exam week: 16 x total hours) | 16 | ||
| Study Hours Out of Class | 16 | 3 | 48 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | 4 | 8 | |
| Presentation / Jury | |||
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 2 | 19 | |
| Final Exams | 1 | 14 | |
| Total | 180 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To be able to have a grasp of basic mathematics, applied mathematics or theories and applications of statistics. | |||||
| 2 | To be able to use advanced theoretical and applied knowledge, interpret and evaluate data, define and analyze problems, develop solutions based on research and proofs by using acquired advanced knowledge and skills within the fields of mathematics or statistics. | |||||
| 3 | To be able to apply mathematics or statistics in real life phenomena with interdisciplinary approach and discover their potentials. | |||||
| 4 | To be able to evaluate the knowledge and skills acquired at an advanced level in the field with a critical approach and develop positive attitude towards lifelong learning. | X | ||||
| 5 | To be able to share the ideas and solution proposals to problems on issues in the field with professionals, non-professionals. | X | ||||
| 6 | To be able to take responsibility both as a team member or individual in order to solve unexpected complex problems faced within the implementations in the field, planning and managing activities towards the development of subordinates in the framework of a project. | X | ||||
| 7 | To be able to use informatics and communication technologies with at least a minimum level of European Computer Driving License Advanced Level software knowledge. | |||||
| 8 | To be able to act in accordance with social, scientific, cultural and ethical values on the stages of gathering, implementation and release of the results of data related to the field. | |||||
| 9 | To be able to possess sufficient consciousness about the issues of universality of social rights, social justice, quality, cultural values and also environmental protection, worker's health and security. | |||||
| 10 | To be able to connect concrete events and transfer solutions, collect data, analyze and interpret results using scientific methods and having a way of abstract thinking. | |||||
| 11 | To be able to collect data in the areas of Mathematics or Statistics and communicate with colleagues in a foreign language. | |||||
| 12 | To be able to speak a second foreign language at a medium level of fluency efficiently. | X | ||||
| 13 | To be able to relate the knowledge accumulated throughout the human history to their field of expertise. | |||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
