Mathematical Economics

Course Code:

ECON 232

Course Period:

Spring

Course Type:

Core

P:

3

Application:

0

Credits:

3

ECTS:

6

Prerequisite Courses:

Intermediate Mathematics

Course Language:

İngilizce

Course Coordinator:

Hatice Kerra GELDİ

Courses given by:

Natalya Ketenci

Hatice Kerra Geldi

Course Objectives:

A course on "Mathematical Economics" aims to give students necessary analytical tools and skills of Mathematics that help to understand and solve economic models like market model, national income model, etc.

Course Content:

Equilibrium analysis, linear models and matrix algebra, rules of differentiation and their use in comparative statics, optimization problems.

Course Methodology:

1: Lecture, 2: Question-Answer, 3: Discussion, 12: Case Study

Course Evaluation Methods:

A: Testing, B: Experiment, C: Homework, Q: Quiz

Vertical Tabs

Course Learning Outcomes

Learning Outcomes	Program Learning Outcomes	Teaching Methods	Assessment Methods
To be able to determine the endogenous and exogenous variables of economic models.	2, 4, 6	1, 2, 3	A, Q
To be able to solve the equation systems for the equilibrium analysis.	2, 4, 6	1, 2, 3	A, Q
To be able to use matrix algebra in order to solve the linear equation systems.	2, 4, 6	1, 2, 3	A, Q
Learn the use of differentiation techniques for the comparative static analysis.	2, 4, 6	1, 2, 3	A, Q
To be able to determine the optimum values of an economic variable in non-constraint and constraint cases.	2, 4, 6	1, 2, 3	A, Q

Course Flow

Week	Topics	Study Materials
1	The Nature of Mathematical Economics & Economic Models	Chapter 1 & Chapter 2
2	Equilibrium Analysis in Economics	Chapter 3
3	Equilibrium Analysis in Economics	Chapter 3
4	Linear Models and Matrix Algebra	Chapter 4
5	Linear Models and Matrix Algebra	Chapter 4
6	Linear Models and Matrix Algebra (continued)	Chapter 5
7	Linear Models and Matrix Algebra (continued)	Chapter 5
8	Rules of Differentiation and Their Use in Comparative Statistics	Chapter 7
9	Rules of Differentiation and Their Use in Comparative Statistics	Chapter 7
10	Optimization: A Special Variety of Equilibrium Analysis	Chapter 9
11	Optimization: A Special Variety of Equilibrium Analysis	Chapter 9
12	Optimization with Equality Constraints	Chapter 12
13	Optimization with Equality Constraints	Chapter 12
14	Review

Recommended Sources

Textbook		Chiang, A.C. and Wainwright, K., Fundamental Methods of Mathematical Economics, 4th ed., McGraw-Hill, 2005.
Additional Resources

Material Sharing

Documents		Lecture Notes
Assignments
Exams

Assessment

IN-TERM STUDIES	NUMBER	PERCENTAGE
Mid-terms	1	100
Quizzes (attendance, presentation, etc.)	0	0
Assignments	0	0
	Total	100
Contribution of Final Examination to Overall Grade		60
Contribution of In-Term Studies to Overall Grade		40
	Total	100

Course’s Contribution to Program

No	Program Learning Outcomes	Contribution
No	Program Learning Outcomes	1	2	3	4	5
1	Students can keep themselves informed and analyze the current economic development in Turkey and in the world from an international political economy perspective paying a particular attention to the interaction of the Turkish economy with the global economy.
2	Being aware of the development and accumulation of economic thought, students can master qualitative and quantitative knowledge and methods to test various economic theories that can be applied to the analysis of the current economic problems.					X
3	Students can use statistical and econometric analyses by learning how to use information technologies that have validity and widespread use in the field of economics.
4	By learning how to learn in the field of economics, students can research and work individually or as a team using the Turkish and English academic resources.		X
5	Being aware of the ethical values, students know the individual, social and ecological dimensions of the concept of social responsibility and can prove that they understand the active citizenship duty that falls upon them within this framework.
6	Students can clearly express, present and share their knowledge, the outcomes of their studies, their ideas and comments to people in their field or other disciplines/units using the necessary data, in national and international academic and professional environments, in Turkish or English.			X
7	Students can show that understanding the universality of social rights and the concepts of social justice, which form the basis of the modern societies, and the importance of scientific perspective, which is necessary to the social development and global competitiveness.

ECTS

Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Course Duration (Including the Exam Week: 15 x total course hours)	15	3	45
Hours for off-the-classroom study (Pre-study, practice)	15	7	105
Mid-terms	1	3	3
Quizzes (attendance, presentation, etc.)	0	0	0
Assignments	0	0	0
Final Examination	1	3	3
Total Work Load			156
Total Work Load / 25 (s)			6,24
ECTS Credit of the Course			6

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