course-details-portlet

SØK3004

Advanced Calculus

Choose study year
Credits 15
Level Second degree level
Course start Autumn 2021
Duration 1 semester
Language of instruction Norwegian
Location Trondheim
Examination arrangement Home exam

About

About the course

Course content

The course provides the students with the basic mathematical skills necessary to understand central analytical methods in economic theory. The main part of the course covers mathematical analysis with multivariable functions, with applications for theories of consumption and production. In addition, the course consists of integration, differential equations and linear algebra.

Learning outcome

Knowledge

You learn 

  • about definite and indefinite integrals of one variable and several variables, techniques for solving integrals (integration by parts and integration by substitution) 
  • how geometric series can be used in financial mathematics
  • linear algebra, including addition and multiplication of vectors and matrices, geometric interpretation of vectors, solution of linear systems of equations, linear independence, rank of matrices, determinants, eigenvalues and eigenvectors 
  • about first-and second-order differential equations, phase plane analysis and directional diagrams, systems of differential equations, saddle points, simple difference equations 
  • about optimization of functions defined over multiple variables with and without constraints, how to determine whether extreme points are minimum, maximum or saddle points 
  • about production technology, cost minimization and cost function, profit maximization and profit function, utility functions and consumer theory

Skills

You should be able to 

  • determine fairly complicated integrals 
  • calculate present values and find the annuity for an annuity loan 
  • use linear algebra to solve linear systems of equations, compute determinants, find the rank of matrices and find the eigenvalues and associated eigenvectors
  • solve and analyze first-and second-order differential equations, including systems of differential equations 
  • find optimum for static optimization problems, and apply optimization on microeconomic issues

General competence

You should be able to

  • use mathematics as a tool to analyze economic issues
  • apply mathematics in quantitatively oriented courses, such as macroeconomics, econometrics and finance

Learning methods and activities

4 hours of lectures every week, and 2 hours of practical assignments every week. Compulsory activity: Approved term paper(s)/ exercise(s). Specific requirements will be announced at the beginning of the term.

Compulsory assignments

  • Approved term paper(s)/exercise(s)

Required previous knowledge

None

Course materials

Announced at the beginning of the term.

Credit reductions

Course code Reduction From
MA0002 5 sp Autumn 2014
This course has academic overlap with the course in the table above. If you take overlapping courses, you will receive a credit reduction in the course where you have the lowest grade. If the grades are the same, the reduction will be applied to the course completed most recently.

Subject areas

  • Financial Economics
  • Economics
  • Social Sciences

Contact information

Course coordinator

Department with academic responsibility

Department of Economics