MATHEMATICAL ECONOMICS

ECOZ538

Course Code: ECOZ538
Semester: First Term (Fall)
Theory+Practice: 3 + 0
ECTS: 10

Course Type

Compulsory Course

Course Level

Master's Degree Without Thesis

Year of Study

Semester

First Term (Fall)

ECTS

Name of Lecturer(s)

Learning Outcomes

At the end of this course, the students;

students should have become familiar with the use of mathematical techniques used in economics. They should have become familiar with economic meaning of mathematical expressions in economic models. Students learn the meaning of equilibrium in an economic model and how to do equilibrium analysis. Then they learn the effect of an external shock on the existing equilibrium. They also become familiar with various economic models such as Leontief and National-Income Models. They learn the decision rules in Firm Theory and Consumer Behavior Theory for short-run and long-run. And they learn the behavior of perfectly competitive and monopolistically competitive firms in the competition of many firms, the behavior of duopolistic and oligopolistic competitive firms in the competition of many firms, the behavior of monopolistic and monopsonistic firms.

Mode of Delivery

Face to face

Prerequisites

Recommended Optional Programme Components

Course Description

This course aims to introduce the quantitative instruments needed to analyze economic problems with the help of a model.

Course Contents

WEEK	TOPICS
1^st Week	The Nature of Mathematical Economics
2^nd Week	Economic Models
3^rd Week	Equilibrium Analysis in Economics
4^th Week	Linear Models and Matrix Algebra
5^th Week	Linear Models and Matrix Algebra
6^th Week	Rules of Differentiation and Their Use in Comparative Statistics
7^th Week	Comparative Static Analysis of General Function Models
8^th Week	Comparative Static Analysis of General Function Models
9^th Week	Optimization: A Special Variety of Equilibrium Analysis
10^th Week	Comparative Static Analysis of General Function Models
11^th Week	Comparative Static Analysis of General Function Models
12^th Week	Optimization With Equality Constraints
13^th Week	Economic Dynamics and Integral Calculus
14^th Week	Continuous Time: First Order Differential Equations

Recommended or Required Reading

Alpha Chiang and Kevin Wainwright: Mathematical methods in Economics: 4th Edition, 2005, McGraw Hill.

Dowling, Edward T. 2001. Introduction to Mathematical Economics: Third Edition. McGraw-Hill.

Planned Learning Activities and Teaching Methods

Lecture
Discussion

Assessment Methods and Criteria

	Quantity	Percentage (%)
Mid-term	1	40
Quiz	1	10
Total(%)		50
Contribution of In-term Studies to Overall Grade(%)		50
Contribution of Final Examination to Overall Grade(%)		50
Total(%)		100

ECTS Allocated Based on Student Workload

Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Midterm exam	1	2	2
Preparation for Quiz	1	55	55
Individual or group work	14	5	70
Preparation for Final exam	1	70	70
Course hours	14	3	42
Preparation for Midterm exam	1	60	60
Laboratory (including preparation)
Final exam	1	2	2
Homework
Total Work Load			301
Total Work Load / 30 (h)			10.03
ECTS Credit of the Course			10

Language of Instruction

Work Placement(s)

Programme Qualifications / Learning Outcomes

	LO1
K1	X
K2
K3	X
K4
K5	X
K6	X
K7	X
K8
K9	X
K10