Interpret the concept of equilibrium in economics mathematically.
Define the rules of matrices and determines the role of matrices in solving economic problems.
Develop their ability to solve economic problems with abstract models and to use the basic tools needed in modern analysis of economic problems.
Analyze economic models with optimization method.
Mode of Delivery
Face to face
Prerequisites
No
Recommended Optional Programme Components
No
Course Description
This course aims to teach the quantitative tools required to present and analyze economic problems with the help of a model. At the end of the course, it is aimed that the student will gain the following competencies and skills.
Course Contents
WEEK
TOPICS
1st Week
Mathematics and Economics
2nd Week
Economic Models
3rd Week
Equilibrium Analysis
4th Week
Linear Models and Matrix Algebra
5th Week
Linear Models and Matrix Algebra Cont'd.
6th Week
Comparative Statics and the Concept of the Derivative
7th Week
Midterm
8th Week
Rules of Differentiation and their use in Comparative Statics
9th Week
Comparative-Static Analysis of General-Function Models
10th Week
Optimization: A Special Variety of Equilibrium Analysis
11th Week
Optimization: A Special Variety of Equilibrium Analysis Cont'd.
12th Week
Exponential and Logarithmic Functions
13th Week
The Case of More Than One Choice Variable
14th Week
Optimization with Equality Constraints
Recommended or Required Reading
Fundamental Methods of Mathematical Economics, Kevin Wainwright, Alpha Chiang , McGraw-Hill, 2005
Planned Learning Activities and Teaching Methods
Lecture
Discussion
Problem Solving
Assessment Methods and Criteria
Quantity
Percentage (%)
Mid-term
1
35
Quiz
2
30
Total(%)
65
Contribution of In-term Studies to Overall Grade(%)
65
Contribution of Final Examination to Overall Grade(%)
