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;
|
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. |
| Core Courses | |
Major Area Courses | X | |
Supportive Courses | ||
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 acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field. | X | ||||
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. | X | ||||
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. | X | ||||
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