| Course Name |
Mathematical Economics I
|
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
|
ECON 215
|
Fall
|
3
|
0
|
3
|
4
|
| Prerequisites |
None
|
|||||
| Course Language |
English
|
|||||
| Course Type |
Required
|
|||||
| Course Level |
First Cycle
|
|||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | - | |||||
| National Occupation Classification | - | |||||
| Course Coordinator | ||||||
| Course Lecturer(s) | ||||||
| Assistant(s) | ||||||
| Course Objectives | This course provides the mathematical foundation required for rigorous economic modeling. Students will acquire essential techniques and concepts—such as matrix algebra, derivatives, and differentiation—to construct and solve models. Core topics include equilibrium analysis, comparative statics, and both constrained and unconstrained optimization methods. |
| Learning Outcomes |
The students who succeeded in this course;
|
| Course Description | This course offers a rigorous introduction to the mathematical methods indispensable for undergraduate economic theory and quantitative analysis. Students will acquire proficiency in linear algebra, differential calculus, and optimization techniques—both constrained and unconstrained—to formulate and solve models of consumer choice, firm behavior, and market equilibria. |
| Related Sustainable Development Goals |
|
|
|
Core Courses | |
| Major Area Courses |
X
|
|
| Supportive Courses | ||
| Media and Management Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Related Preparation |
| 1 | The Nature of Mathematical Economics and Economic Models | Chapter 1 & 2 in C&W |
| 2 | Equilibrium Analysis in Economics | Chapter 3 in C&W |
| 3 | Linear Models and Matrix Algebra | Chapter 4 in C&W |
| 4 | Linear Models and Matrix Algebra | Chapter 5 in C&W |
| 5 | Comparative Statics and the Concept of Derivative | Chapter 6 in C&W |
| 6 | Rules of Differentiation and Their Use in Comparative Statics | Chapter 7 in C&W |
| 7 | Rules of Differentiation and Their Use in Comparative Statics | Chapter 7 in C&W |
| 8 | Comparative-Static Analysis of General-Function Models | Chapter 8 in C&W |
| 9 | Midterm Exam | |
| 10 | Comparative-Static Analysis of General-Function Models | Chapter 8 in C&W |
| 11 | Optimization: A Special Variety of Equilibrium Analysis | Chapter 9 in C&W |
| 12 | The Case of More than One Choice Variable | Chapter 11 in C&W |
| 13 | The Case of More than One Choice Variable | Chapter 11 in C&W |
| 14 | Optimization with Equality Constraints | Chapter 12 in C&W |
| 15 | Optimization with Equality Constraints | Chapter 12 in C&W |
| 16 | Final Exam |
| Course Notes/Textbooks | Alpha C. Chiang and Kevin Wainwright: Fundamental Methods of mathematical Economics (C&W) |
| Suggested Readings/Materials | Todorova T. Problems book to accompany mathematics for economists, Sydsaeter and Hammond, Essential mathematics for economic analysis |
| Semester Activities | Number | Weigthing |
| Participation |
1
|
10
|
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques |
2
|
20
|
| Portfolio | ||
| Homework / Assignments | ||
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exams | ||
| Midterm |
1
|
30
|
| Final Exam |
1
|
40
|
| Total |
| Weighting of Semester Activities on the Final Grade |
4
|
60
|
| Weighting of End-of-Semester Activities on the Final Grade |
1
|
40
|
| Total |
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
| Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
16
|
0
|
|
| Study Hours Out of Class |
16
|
3
|
48
|
| Field Work |
0
|
||
| Quizzes / Studio Critiques |
2
|
2
|
4
|
| Portfolio |
0
|
||
| Homework / Assignments |
0
|
||
| Presentation / Jury |
0
|
||
| Project |
0
|
||
| Seminar / Workshop |
0
|
||
| Oral Exam |
0
|
||
| Midterms |
1
|
20
|
20
|
| Final Exam |
1
|
20
|
20
|
| Total |
140
|
|
#
|
Program Competencies/Outcomes |
* Contribution Level
|
|||||
|
1
|
2
|
3
|
4
|
5
|
|||
| 1 |
To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field. |
-
|
-
|
-
|
-
|
X
|
|
| 2 |
To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies. |
-
|
-
|
-
|
-
|
X
|
|
| 3 |
To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently. |
-
|
-
|
-
|
-
|
-
|
|
| 4 |
To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals. |
-
|
-
|
-
|
-
|
-
|
|
| 5 |
To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires. |
-
|
-
|
-
|
-
|
-
|
|
| 6 |
To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically. |
-
|
-
|
-
|
-
|
X
|
|
| 7 |
To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output. |
-
|
-
|
-
|
-
|
-
|
|
| 8 |
To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society. |
-
|
-
|
-
|
-
|
-
|
|
| 9 |
To be able to take the responsibility as an individual and as a team member. |
-
|
-
|
-
|
-
|
-
|
|
| 10 |
To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis. |
-
|
-
|
-
|
-
|
-
|
|
| 11 |
To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1) |
-
|
-
|
-
|
-
|
-
|
|
| 12 |
To be able to speak a second foreign language at a medium level of fluency efficiently. |
-
|
-
|
-
|
-
|
-
|
|
| 13 |
To be able to relate the knowledge accumulated throughout human history to their field of economics. |
-
|
-
|
-
|
-
|
-
|
|
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
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