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LEARNING OBJECTIVES:
The objectives are that the student after having participated in the mathematics part of this course should be able to
COURSE DESCRIPTION:
Many problems encountered in economics can often be formulated and solved by using mathematical methods, and therefore, mathematics is an important tool in the analysis of fundamental problems in economics. Economic decisions are in most situations mutually dependent through their influence on demand and supply, and therefore, the purpose of the course is to develop mathematical skills to be able to analyse such dependencies and their importance for the allocation of economic resources. The first part of this course builds on the students' knowledge about mathematical analysis of functions of one variable and the optimization of this type of functions. This knowledge is extended by an introduction to the analysis of functions of several variables and by studying economic optimization problems with and without constraints, linear as well as non-linear. In addition, the course introduces some important tools from the economists' mathematical toolbox, including comparative static analysis. Furthermore, the students' knowledge of basic linear algebra will be extended to cover vectors, matrices, determinants, inverse matrix, linearly dependence, the rank of a matrix and eigenvalues and -vectors. Finally, integral calculus will be covered. Economic applications will be emphasized throughout the course, and the introduction of a mathematical software program will be an integral part of the teaching.
COURSE SUBJECT AREAS:
REQUIRED COURSES (progression):
The courses at the 1. semester of the BSc.oecon program
LECTURER: Michael H.J. Stæhr
TEACHING METHOD: Lectures and tutorials.
TEACHING LANGUAGE: Danish
LITERATURE:
Carl P. Simon and Lawrence Blume: Mathematics for Economists. New York: W.W. Norton & Company, 1994. Chapter 1-4, 6-23, 26, 28 & 30, and appendix A1 & A4 (629 pages, some of which are well known stuff from high-school).
Notes, weekly exercises and assignments are part of the curriculum.
FORM OF ASSESSMENT: Oral exam of 30 minutes duration without preparation.
In connection with the tutorials in mathematics at least 4 assignments, 2 in the spring semester part of the course and 2 in the fall semester part of the course, should be handed in and approved for admission to the exam.
The assessment is made on a pass/non-pass basis. This course may not appear in a diploma with neither of the courses "Microeconomics, Mathematics and Statistics" and "Microeconomics, Mathematics and Statistics".
EXAMINATION AIDS ALLOWED: None