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Course List

Mathematical Economics

  • Course Code :
    MTH 210
  • Level :
    Undergraduate
  • Course Hours :
    3.00 Hours
  • Department :
    Department of Economics

Instructor information :

Area of Study :

This course presents different types of equations with their graphical representations; it proceeds to the rules of differentiation, (partial differentiation- marginal analysis- different types of optimization, linear and non-linear first and second order differentiation). Then it continues with the rules of integration, (indefinite and definite integration). The course also introduces matrices (definition- operations on matrices and determinants, inverse of a matrix, Jacobian Matrix, Hessian Matrix). It also identifies the Linear- Equation System and Cramer's Rule; homogeneous and homothetic functions, as well as explaining concavity and convexity; quasi- concavity and quasi-convexity. Course Goals: • Acquaint students with graphing different types of equations and analyze them. • Teach students the calculation of derivatives, partial derivatives and solving optimization problems. • Calculate different comparative static problems to find maximum and/or minimum of functions of single or several variables. • Familiarize students with the rules of Integration.

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Mathematical Economics

This course presents different types of equations with their graphical representations; it proceeds to the rules of Differentiation, (partial differentiation- marginal analysis- different types of optimization, Linear and Non- Linear first and second order differentiation). Then it continues with the rules of Integration, (Indefinite and definite integration). The course also introduces Matrices (definition- operations on matrices and determinants, inverse of a matrix, Jacobian Matrix, Hessian Matrix). It also identifies the Linear- Equation System and Cramer's Rule; Homogeneous and Homothetic Functions, as well as explaining Concavity and Convexity; Quasi- concavity and quasi-convexity.

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Mathematical Economics

Course outcomes:

a. Knowledge and Understanding:

1- Recognize how to graph different types of equations and analyze them.
2- Define concepts of differentiation and Integration and their applications in economy.
3- Express definition, operations and determinants of matrices
4- Distinguish between different types of functions.
5- Identify Homogeneous and Homothetic Functions, as well as explaining Concavity and Convexity.

b. Intellectual Skills:

1- Analyze markets real case studies using optimization of economic functions.
2- Relate the mathematical rules of differentiation, integration and matrices to real situations.

c. Professional and Practical Skills:

1- Apply the Integration and derivatives rules to analyze economic problems and functions such as: profit, cost and revenue functions.
2- Employ mathematical equations to solve several economic problems.

d. General and Transferable Skills:

1- Justify economic real situations with critical thinking.
2- Inspire Innovation and knowing how to work towards the results.

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Mathematical Economics

Course topics and contents:

Topic No. of hours Lecture Tutorial/Practical
Introductory lecture and course outline - Revision of functions 5 1 1
Homogeneous and Homothetic Functions Concavity and Convexity; Quasi- concavity and quasi-convexity 10 2 2
Final Exam 1
Linear Equations (Graphs, Algebraic solution, supply and demand analysis, National Income determination) 10 2 2
Non Linear Equations(Quadratic functions, Revenue, cost and profit) 10 2 2
Basic concepts of Differentiation : Economic Applications 5 1 1
Midterm Exam 1
Partial differentiation: basic concepts, rules and Economic Applications 5 1 1
Optimization of economic functions: Economic Applications applying the Lagrange multipliers approach to constrained optimization problems. 5 1 1
Integration (Definite and indefinite) 5 1 1
Matrices (definition- operations on matrices and determinants, inverse of a matrix, Jacobian Matrix, Hessian Matrix) 10 2 2

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Mathematical Economics

Teaching And Learning Methodologies:

Teaching and learning methods
Data show and computer in lectures.
Case studies Applications.
Group discussion and presentations.

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Mathematical Economics

Course Assessment :

Methods of assessment Relative weight % Week No. Assess What

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Mathematical Economics

Books:

Book Author Publisher
Mathematics For Economics And Business Ian Jacques Prentice Hall

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