Course Name | Mathematical Economics I |
Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
---|---|---|---|---|---|
ECON 215 | Fall | 3 | 0 | 3 | 4 |
Prerequisites | None | |||||
Course Language | English | |||||
Course Type | Required | |||||
Course Level | First Cycle | |||||
Mode of Delivery | - | |||||
Teaching Methods and Techniques of the Course | ||||||
Course Coordinator | - | |||||
Course Lecturer(s) | ||||||
Assistant(s) |
Course Objectives | The students who succeeded in this course; will learn the essence of quantitative and rigorous thinking of the economic problems by adopting mathematical concepts and techniques. This course aims to equip the student with mathematical tools to costruct an economic model and determination of equilibrium solutions using analytical and computational methods such as Matlab or Python. The purposethis course, therefore, is to help economics students acquire enough mathematical skill to access the literature that is most relevant to their undergraduate study. This should include what some students will need to conduct successfully an undergraduate research project or honours thesis. In this course, the following major types of economic analysis are covered: statics (equilibrium analysis), comparative statics, optimization problems. To tackle these, the following mathematical methods are introduced in due course: matrix algebra, differential and integral calculus, differential equations, difference equations, and optimal control theory. |
Learning Outcomes | The students who succeeded in this course;
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Course Description | |
Related Sustainable Development Goals |
| Core Courses | |
Major Area Courses | X | |
Supportive Courses | ||
Media and Managment Skills Courses | ||
Transferable Skill Courses |
Week | Subjects | Required Materials |
1 | The Nature of Mathematical Economics and Economic Models | |
2 | Equilibrium Analysis in Economics | |
3 | Linear Models and Matrix Algebra | |
4 | Linear Models and Matrix Algebra: Economic Applications | |
5 | Comparative Statics and the Concept of Derivative | |
6 | Rules of Differentiation and Their Use in Comparative Statics | |
7 | Comparative-Static Analysis of General-Function Models | |
8 | Comparative-Static Analysis of General-Function Models: Economic Applications | |
9 | Optimization: A Special Variety of Equilibrium Analysis | |
10 | Optimization: Economic Applications | |
11 | Exponential and Logarithmic Functions | |
12 | The Case of More than One Choice Variable | |
13 | The Case of More than One Choice Variable: Economic Applications | |
14 | Optimization with Equality Constraints | |
15 | Optimization with Equality Constraints: Economic Applications | |
16 | Optimization: General Review |
Course Notes/Textbooks | Alpha C. Chiang and Kevin Wainwright: Fundamental Methods of mathematical Economics |
Suggested Readings/Materials | Todorova T. Problems book to accompany mathematics for economists, Sydsaeter and Hammond, Essential mathematics for economic analysis |
Semester Activities | Number | Weigthing |
Participation | 1 | 5 |
Laboratory / Application | ||
Field Work | ||
Quizzes / Studio Critiques | ||
Portfolio | ||
Homework / Assignments | 1 | 25 |
Presentation / Jury | ||
Project | ||
Seminar / Workshop | ||
Oral Exam | ||
Midterm | 1 | 30 |
Final Exam | 1 | 40 |
Total |
Weighting of Semester Activities on the Final Grade | 3 | 40 |
Weighting of End-of-Semester Activities on the Final Grade | 1 | 60 |
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 | 1 | 16 |
Field Work | |||
Quizzes / Studio Critiques | |||
Portfolio | |||
Homework / Assignments | 1 | 6 | |
Presentation / Jury | |||
Project | |||
Seminar / Workshop | |||
Oral Exam | |||
Midterms | 1 | 20 | |
Final Exams | 1 | 30 | |
Total | 120 |
# | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
1 | To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field. | |||||
2 | To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies. | |||||
3 | To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently. | |||||
4 | To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals. | |||||
5 | To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires. | |||||
6 | To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically. | |||||
7 | To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output. | |||||
8 | To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society. | |||||
9 | To be able to take the responsibility as an individual and as a team member. | |||||
10 | To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis. | |||||
11 | To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1) | |||||
12 | To be able to speak a second foreign at a medium level of fluency efficiently. | |||||
13 | To be able to relate the knowledge accumulated throughout human history to their field of economics. |
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest