Course content

This course covers the basic mathematical concepts and techniques of analysis necessary to understand some of the mathematical models covered later in the program.

Learning outcome

Knowledge

You learn

• mathematics relevant to economists -
• about functions of one or more variables, including different types of functions (linear, quadratic, polynomial, power, exponential, logarithmic) -
• about continuous compounding, geometric series, mortgages and annuities -
• differentiation of functions of one variable (including implicit differentiation), partial derivatives and about elasticity
• optimization, including the Lagrange method

Skills

You should be able to

• illustrate functions of one variable graphically, factor quadratic expressions and apply exponential functions in examples related to economics
• calculate the present value of a future income stream
• differentiate functions of one variable (including implicit functions) and calculate elasticities
• differentiate functions of two variables and use partial derivatives in economics
• find stationary points of functions of one and two variables and solve optimization problems both with and without constraints

General competence

You should be able to

• apply mathematical methods, especially differentiation and optimization, to analyze economic models at the bachelor level

Learning methods and activities

The course is taught like an intensive course, with 4 hours of lectures and 2 hours of practical assignments per week during the first half of the term. The course has compulsory activity. Specific requirements will be announced at the beginning of the term.

Compulsory assignments

• One approved term paper.
• Approved term paper

Recommended previous knowledge

None

Required previous knowledge

None

Course materials

Announced at the beginning of the term.

Credit reductions