ECMZ303 Mathematical Economics I

5 ECTS - 3-0 Duration (T+A)- 5. Semester- 3 National Credit

Information

Code ECMZ303
Name Mathematical Economics I
Term 2024-2025 Academic Year
Semester 5. Semester
Duration (T+A) 3-0 (T-A) (17 Week)
ECTS 5 ECTS
National Credit 3 National Credit
Teaching Language İngilizce
Level Lisans Dersi
Type Normal
Mode of study Yüz Yüze Öğretim
Catalog Information Coordinator Prof. Dr. KENAN LOPCU
Course Instructor Prof. Dr. KENAN LOPCU (A Group) (Ins. in Charge)


Course Goal / Objective

Analysing and understanding relations among economic factors by using mathematical methods, setting up and evaluating economic models

Course Content

Profit maximization for diffrent markets, Keynesian multiplier, Matrix applications to economic models, multivariable optimization with and without constraints.

Course Precondition

Successful completion of Mathematics I-II, Introduction to Economics I, Statistics I-II, and Microeconomics I-II

Resources

Alpha C. Chiang and Kevin Wainwright, Fundamental Methods of Mathematical Economics, 4th edition, McGraw-Hill, 2005.

Notes

Robert S. Pindyck ve Daniel L. Rubinfeld, Microeconomics, 8th edition, Pearson, 2013. Karl E. Case, Ray C. Fair and Sharon M. Oster, Principles of Economics, 10th edition, Prentice Hall, 2012. Lecture Notes


Course Learning Outcomes

Order Course Learning Outcomes
LO01 Applying matrix theory to economic models
LO02 Analysing profit maximization for different markets
LO03 Analysing the utility maximization and expenditure minimization
LO04 Analysing multivariable optimization with constraints
LO05 Analysing multivariable optimization without constraints


Relation with Program Learning Outcome

Order Type Program Learning Outcomes Level
PLO01 Bilgi - Kuramsal, Olgusal Explain the basic concepts and theorems in the fields of Econometrics, Statistics and Operations research 5
PLO02 Bilgi - Kuramsal, Olgusal Acquires basic Mathematics, Statistics and Operation Research concepts 5
PLO03 Bilgi - Kuramsal, Olgusal Describes the necessary concepts of Business
PLO04 Beceriler - Bilişsel, Uygulamalı Equipped with the foundations of Economics, and develops Economic models 4
PLO05 Beceriler - Bilişsel, Uygulamalı Models problems with Mathematics, Statistics, and Econometrics 5
PLO06 Beceriler - Bilişsel, Uygulamalı Has the ability to analyze/interpret at the conceptual level to develop solutions to problems 5
PLO07 Beceriler - Bilişsel, Uygulamalı Collects/analyses data 3
PLO08 Bilgi - Kuramsal, Olgusal Interprets the results analyzed with the model 4
PLO09 Beceriler - Bilişsel, Uygulamalı Combines the information obtained from different sources within the framework of academic rules in a field which does not research
PLO10 Beceriler - Bilişsel, Uygulamalı It develops traditional approaches, practices and methods into new working methods when it deems necessary
PLO11 Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği Leads by taking responsibility individually and/or within the team
PLO12 Yetkinlikler - Öğrenme Yetkinliği In addition to herself/himself professional development, constantly improves in scientific, cultural, artistic and social fields in line with interests and abilities
PLO13 Yetkinlikler - Öğrenme Yetkinliği Being aware of the necessity of lifelong learning, it follows the current developments in the field / constantly renews itself
PLO14 Yetkinlikler - İletişim ve Sosyal Yetkinlik Uses a package program of Econometrics, Statistics, and Operation Research
PLO15 Yetkinlikler - İletişim ve Sosyal Yetkinlik Uses Turkish and at least one other foreign language, academically and in the business context
PLO16 Yetkinlikler - İletişim ve Sosyal Yetkinlik Interprets the feelings, thoughts and behaviors of the related persons correctly/expresses himself/herself correctly in written and verbal form
PLO17 Yetkinlikler - Alana Özgü Yetkinlik Interprets data on current economic and social issues 5
PLO18 Yetkinlikler - Alana Özgü Yetkinlik Applies social, scientific and professional ethical values 4


Week Plan

Week Topic Preparation Methods
1 Profit maximization: competetive firm and monopoly Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
2 Profit maximization: duopoly and olygoply Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
3 A simple microeconomic model and intro to matrix Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
4 Matrix algebra and Cramer rule Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
5 Matrix analysis with one and two markets Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
6 Two firms with diffrentiated outputs, conjectural var. Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
7 An overview Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
8 Midterm Exam Studying the course content Ölçme Yöntemleri:
Yazılı Sınav
9 Multivariate calculus (partial derivatives, diffrentials) Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
10 Multivariate calculus, application Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
11 Intro to unconstrained optimization Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
12 Multivariate optimization, comparative statics, examples Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
13 Cost minimization, utility maximization Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
14 Expenditure minimization Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
15 Review Reading the textbook Öğretim Yöntemleri:
Anlatım, Alıştırma ve Uygulama
16 Final Exam Studying the whole course content Ölçme Yöntemleri:
Yazılı Sınav
17 Final Exam Studying the whole course content Ölçme Yöntemleri:
Yazılı Sınav


Student Workload - ECTS

Works Number Time (Hour) Workload (Hour)
Course Related Works
Class Time (Exam weeks are excluded) 14 3 42
Out of Class Study (Preliminary Work, Practice) 14 3 42
Assesment Related Works
Homeworks, Projects, Others 0 0 0
Mid-term Exams (Written, Oral, etc.) 1 12 12
Final Exam 1 18 18
Total Workload (Hour) 114
Total Workload / 25 (h) 4,56
ECTS 5 ECTS

Update Time: 08.05.2024 12:32