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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
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
Homogeneous and Homothetic Functions Concavity and Convexity; Quasi- concavity and quasi-convexity 10 2 2
Final Exam 1

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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
Course Work (Attendance, Participation, Assignments, Quizzes, Research Paper…) 20.00 To assess understanding and to assess theoretical background of the intellectual and practical skills.
Final Exam 40.00 15 To assess knowledge and intellectual skills.
Midterm Exam 30.00 7 To assess professional skills.
Tutorial 10.00

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Mathematical Economics

Books:

Book Author Publisher
Mathematics For Economics And Business Ian Jacques Prentice Hall
No Book no no

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