Mathematics for Economists II

Course ID: 
Year of Study: 
For Erasmus Students: 

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:

  1. Knowledge
  • Understand basic mathematical theory (concepts, theorems, proofs).
  • Recognize the theory-related mathematical formulas and describe how to solve them
  1. 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).
  1. 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


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)


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.

Course Info

Current Tutors


Venetis Ioannis

Associate Professor
Venetis Ioannis
Field of Expertise: 
Theoretical and Applied Econometrics with emphasis on time-series analysis (non-stationarity, non-linear models)
Office Hours: 
Monday 11:00 - 12:30
Tuesday 11:00 - 12:30

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

Reading List

Reading Recommendations: 
Λουκάκης Μ, Πρόσκληση στα Μαθηματικά Οικονομικών και Σιοικητικών Επιστημών (Τόμος Β’), 1η Εκδοση, 2014
Ξεπαπαδέας Α.Π., Γιαννίκος Ι.Χ, Μαθηματικές μέθοδοι στα οικονομικά (Τόμος Β’), 1η Εκδοση, 2009