Mathematics for Economists II

Course ID:

ECO_112N

Semester:

2nd

Year of Study:

1st Year

Category:

Compulsory

For Erasmus Students:

No

eclass URL

Learning Outcomes

Mathematics for Economists II, is a course aiming at introducing students to basic mathematical concepts, linking them to sets of economic exercises that relate to real problems faced by economists. In this sense, the course forms the basis for the specific methodologies developed in individual curriculum courses (e.g. macroeconomics, microeconomics).

By the end of this course the student will be able to:

Knowledge

Understand basic mathematical theory (concepts, theorems, proofs).
Recognize the theory-related mathematical formulas and describe how to solve them

Skills

Distinguish the different cases of mathematical problems and explain their use in relation to the mathematical problem posed.
Calculate basic mathematical concepts (e.g. maximization of a function, partial derivative calculation).

Specific skills

Combine mathematical theory with economic problems.
Rebuild the economic problem (e.g. Maximize profit in a perfectly competitive market) and explain the solution.
Be able to evaluate, compare and support the solution.

By the end of this course the student will, have developed the following skills (general abilities):

Ability to exhibit knowledge and understanding of the essential facts, concepts, theories and applications related to the specific course.
Ability to apply this knowledge and understanding to the solution of problems.

Course Contents

Functions of several variables: limits, continuity, partial derivatives,
Differentiation,
Maxima & minina, Lagrange multipliers,
Difference equations, including: linear first order, second order with constant coefficients
Introduction to linear algebra (matrix properties, matrix inversion) & linear systems, elasticity, partial elasticities,
Economic applications

Teaching Activities

Lectures (4 hours per week) and Tutorials (1 hour per week x 13 weeks)

Teaching Organization

*Activity*	*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 of the student and preparation of home-works)	135 hours
Total number of hours for the Course (25 hours of work-load per ECTS credit)	200 hours (total student work-load)

Assessment

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

Use of Information and Communication Technologies (ICTs) (e.g. PowerPoint) in teaching. The lectures of each chapter are uploaded on the e-class platform, in the form of a series of ppt files, which the enrolled students can freely download.
Exercises and self-assessment through open-ended questions in e-class are also available.