Mathematics for Economists I

Mathematics for Economists I

Course ID: 
Year of Study: 
For Erasmus Students: 

Learning Outcomes

Basic mathematical concepts such as sets, functions and introduction to differential - integral calculus and optimization theory (functions of one variable without limitations) are presented. Emphasis is placed on the understanding and use of mathematics in economic analysis and the development of model solving  serving applications in the areas  of economic science.

Upon successful completion of the course the student will be able to:

1) Knowledge

  • understand concepts of economic theory using mathematical methods

2) Skills

  • use of Excel for introductory level calculations and presentations
  • use of mathematical methods in economic science (e.g. modeling)

3) Capabilities

  • uses of different ways of thinking (e.g. inductive, productive) to develop specific problem-solving strategies
  • presents technical results in a clear and comprehensible manner

Course Contents

  • Sets, Numbers
  • Functions
  • Continuity, Introduction to limits, Introduction to the differentiation of univariate functions - Chain rule - Elasticity applications
  • Indeterminate limits (L'Hôpital's rule)
  • The concept of differential, higher order derivatives, higher order differentials
  • Function analysis using derivatives – Optimization (Maximization and minimization) of univariate functions
  • Taylor approximation
  • Economic applications
  • Integration, Integration Methods, Definite, indefinite and generalized integrals
  • Economic applications of integrals
  • Sequences and series
  • Convergence or divergence of series - Convergence criteria, Power Series

Teaching Activities

Lectures (4 hours per week) and Tutorials (1 hour per week) 

Teaching Organization


Semester workload

Lectures (4 hours per week x 13 weeks)

52 hours

Tutorials (1 hour per week x 13 weeks) - solving of representative problems

13 hours

Hours for private study

135 hours

Total number of hours for the Course (25 hours of work-load per ECTS credit)

200 hours (total student work-load)


The overall course grade is the sum of a) the final exam grade plus b) 20 percent of the mid-term exam grade*

*The above student evaluation method is a pilot one and will be re-examined at the end of academic year 2018-2019.

Use of ICT

  • Support Learning through the e-class platform
  • Using Excel and open source programs to plot functions

Course Info

Current Tutors


Kounetas Konstantinos

Associate Professor
Kounetas Konstantinos
Field of Expertise: 
Industrial Organisation
Organic Unit / Lab: 
Laboratory of Industrial, Innovation and Regional Economics
Office Hours: 
Undergraduate students:
Monday 11.00-13.00
Tuesday 11.00-12.00
Postgraduate students
Friday 14.00 -15.00

Venetis Ioannis

Associate Professor
Venetis Ioannis
Field of Expertise: 
Theoretical and Applied Econometrics with emphasis on time-series analysis (non-stationarity, non-linear models)
Organic Unit / Lab: 
Laboratory of Quantitative Economics and Information Systems
Office Hours: 
Wed 10:00 - 12:00
Thu 10:00 - 11:00

Reading List

Reading Recommendations: 
- ΠΡΟΣΚΛΗΣΗ ΣΤΑ ΜΑΘΗΜΑΤΙΚΑ ΟΙΚΟΝΟΜΙΚΩΝ ΚΑΙ ΔΙΟΙΚΗΤΙΚΩΝ ΕΠΙΣΤΗΜΩΝ ΤΟΜΟΣ Α', Κωδικός Βιβλίου στον Εύδοξο: 86200295, Έκδοση: 2η έκδοση/2019, Συγγραφείς: ΛΟΥΚΑΚΗΣ ΜΑΝΩΛΗΣ, ISBN: 978-960-633-008-7, Τύπος: Σύγγραμμα, Διαθέτης (Εκδότης): "σοφία" Ανώνυμη Εκδοτική & Εμπορική Εταιρεία
- Μαθηματικά των Επιστημών Οικονομίας και Διοίκησης Κωδικός Βιβλίου στον Εύδοξο: 68373069 Έκδοση: 1/2017 Συγγραφείς: Jacques Ian ISBN: 9789963274338 Τύπος: Σύγγραμμα Διαθέτης (Εκδότης): BROKEN HILL PUBLISHERS LTD
- Μαθηματικές μέθοδοι στα οικονομικά, Κωδικός Βιβλίου στον Εύδοξο: 31755, Αριθμός τόμου: Τόμος 1, Έκδοση: 1η εκδ./2007, Συγγραφείς: Ξεπαπαδέας Αναστάσιος Π., Γιαννίκος Ιωάννης Χ., ISBN: 978-960-01-1168-2, Τύπος: Σύγγραμμα, Διαθέτης (Εκδότης): Γ. ΔΑΡΔΑΝΟΣ - Κ. ΔΑΡΔΑΝΟΣ Ο.Ε.