Syllabus

Applied mathematics for economists

Code
NA1029
Points
7.5 ECTS-credits
Level
First Cycle Level 1
Faculty
School of Technology and Business Studies
Subject field
Economics (NAA)
Group of Subjects
Economics
Disciplinary Domain
Natural Science, 100%
This course can be included in the following main field(s) of study
Economics1
Progression indicator within (each) main field of study
1G1F
Approved
Approved by the Faculty School of Technology and Business Studies, 01 February 2013.
This syllabus is valid from 18 April 2013.

Learning Outcomes

The overall goal of the course is for students to acquire the skills and abilities to apply mathematical methods to analyze economic problems. After completing the course students should be able to:

  • algebraically manipulate expressions and equations.
  • work with linear and non-linear functions with an economics application.
  • solve linear and non-linear equations with an economics application.
  • solve systems of linear equations using matrix algebra.
  • differentiat functions with an economics application.
  • solve economic optimization problems with and without constraints.
  • apply basic integral calculus.

Course Content

The course begins with a review of basic algebra. The concept of function and functions with economic applications such as linear, quadratic, logarithmic and exponential functions are reviewed. Ordinary and partial derivatives and the rules of differentiation are addressed. Optimization of economic objective functions without restrictions and with restrictions applying Lagrange multiplier are covered. Integrals with economic applications such as consumer and producer surplus are discussed. Furthermore, matrix algebra, including the solution of linear systems of equations using Cramer‘s rule and matrix inversion are reviewed.

Assessment

The course is assessed by a written examination equivalent to 6 credits (U-VG) at the end of the course and a midterm exam equivalent to 1.5 credits (U-G) during the course.

Forms of Study

Lectures and exercises.

Grades

The Swedish grades U - VG

In order to have VG on the entire course, students must have VG on the written examination.

Prerequisites

  • Microeconomics - Undergraduate Course 7,5 credits or equivalent knowledge
  • Introductory Macroeconomics - Undergraduate Course, 7,5 credits or equivalent knowledge

Other Information

The maximum numbers of exam occasions are five.

Literature

  • Ian Jacque. (2012) Mathematics for Economics and Business. . 7 ed. Pearson. (639 p). ISBN 978-0-273-76356-7