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Regular version of the site

# Mathematics for Economists

2020/2021
Academic Year
ENG
Instruction in English
3
ECTS credits
Delivered at:
Department of Mathematical Economics (Faculty of Economics)
Course type:
Elective course
When:
1 year, 3 module

### Course Syllabus

#### Abstract

This course is an important part of the undergraduate stage in education for future economists. It's also useful for graduate students who would like to gain knowledge and skills in an important part of math. It gives students skills for implementation of the mathematical knowledge and expertise to the problems of economics. Its prerequisites are both the knowledge of the single variable calculus and the foundations of linear algebra including operations on matrices and the general theory of systems of simultaneous equations. Some knowledge of vector spaces would be beneficial for a student.

#### Learning Objectives

• The objective of the course is to acquire the students’ knowledge in the field of mathematics and to make them ready to analyze simulated as well as real economic situations.

#### Expected Learning Outcomes

• Students apply Weierstrass theorem.
• Students give definition for main concepts of the set theory.

#### Course Contents

• The basics of the set theory. Functions in Rn
• Differentiation. Gradient. Hessian.
• Implicit Function Theorems and their applications.
• Constrained optimization for n-dim space. Bordered Hessian.
• Global extrema. Constrained optimization with inequality constraints.
• Kunh-Tucker conditions. Homogeneous functions.
• Unconstrained and constrained optimization.
• Constrained optimization for n-dim space. Bordered Hessian.

#### Assessment Elements

• Final test
• Average of all quizzes

#### Interim Assessment

• Interim assessment (3 module)
0.3 * Average of all quizzes + 0.7 * Final test

#### Recommended Core Bibliography

• Sydsæter, K., & Hammond, P. J. (2016). Essential Mathematics for Economic Analysis (Vol. Fifth edition). Harlow, United Kingdom: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1419812

#### Recommended Additional Bibliography

• Anthony, M., & Biggs, N. (1996). Mathematics for Economics and Finance : Methods and Modelling. Cambridge [England]: Cambridge eText. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=510977