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Information
| Code | ECMZ303 |
| Name | Mathematical Economics I |
| 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 Goal
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 | ||