| Course Name | Mathematical Economics I |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ECON 213 | Fall/Spring | 3 | 0 | 3 | 5 |
| Prerequisites | None | |||||
| Course Language | English | |||||
| Course Type | Service Course | |||||
| Course Level | First Cycle | |||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | ||||||
| Course Coordinator | - | |||||
| Course Lecturer(s) | ||||||
| Assistant(s) | - | |||||
| Course Objectives | The main aim of this course is to introduce fundamental mathematical tools utilized in the mathematical approach to economic analysis. The course aims to relate these mathematical tools to various types of economics problems. In particular, the emphasis will be on static analysis, comparative static analysis and optimization problems. |
| Learning Outcomes | The students who succeeded in this course;
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| Course Description | This course will extensively use algebra and basic calculus. The course focuses mainly on the following; static analysis, linear models and matrix algebra, comparative static models, optimization problems with equality constraints. |
| 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 | The Nature of Mathematical Economics | Chiang Chapter 1 |
| 2 | Economic Models and Equilibrium Analysis in Economics | Chiang Chapters 2, 3 |
| 3 | Linear Models and Matrix Algebra | Chiang Chapter 4 |
| 4 | Linear Models and Matrix Algebra | Chiang Chapter 5 |
| 5 | Linear Models and Matrix Algebra | Chiang Chapter 5 |
| 6 | Matrix Algebra Application to Economic systems | Chiang Chapter 5 |
| 7 | Midterm Exam 1 | |
| 8 | Rules of Differentiation and Their Use in Comparative Statics | Chiang Chapter 7 |
| 9 | Comparative Static Analysis of General Function Models | Chiang Chapter 8 |
| 10 | Optimization: A Special Variety of Equilibrium Analysis | Chiang Chapter 9 |
| 11 | Midterm Exam II | |
| 12 | The Case of More Than One Choice Variable | Chiang Chapter 11 |
| 13 | Optimization with Equality Constraints | Chiang Chapter 12 |
| 14 | Optimization with Equality Constraints | Chiang Chapter 12 |
| 15 | Review of the Semester | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | Chiang, A.C. (2005), ‘Fundemantal Methods of Mathematical Analysis, McGrawHill. |
| Suggested Readings/Materials |
| 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 | 1 | 60 |
| Weighting of End-of-Semester Activities on the Final Grade | 3 | 40 |
| 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 | 2 | 32 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | 1 | 20 | |
| Presentation / Jury | |||
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 1 | 20 | |
| Final Exams | 1 | 30 | |
| Total | 150 |
| # | 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
