TÜRKÇE
ENGLISH
Information
| Unit | FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES |
| ECONOMETRICS PR. (ENGLISH) | |
| 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 |
| Label | C Compulsory |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. KENAN LOPCU |
| Course Instructor |
Prof. Dr. KENAN LOPCU
(Güz)
(A Group)
(Ins. in Charge)
|
Course Goal / Objective
The objective of the course is to analyze and understand the relationships between economic variables through the use of mathematical methods and the development of mathematical models.
Course Content
In this course, economic analysis is conducted using profit maximization in different markets, matrix applications to economic models, and both unconstrained and constrained optimizations.
Course Precondition
Successful completion of Mathematics I-II, Introduction to Economics I, Statistics I-II, and Microeconomics I-II
Resources
Chiang, A. C., & Wainwright, K. (2005). Fundamental methods of mathematical economics (4th ed.). McGraw-Hill.
Notes
Pindyck, R. S., & Rubinfeld, D. L. (2013). Microeconomics (8th ed.). Pearson. Case, K. E., Fair, R. C., & Oster, S. M. (2012). Principles of economics (10th ed.). Prentice Hall.
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Applying matrix theory to economic models |
| LO02 | Analysing cost minimization for different markets |
| LO03 | Analysing profit maximization for different markets |
| LO04 | Analysing the utility maximization |
| LO05 | Analysing the expenditure minimizations |
| LO06 | Analysing multivariable optimization with constraints |
| LO07 | Analysing multivariable optimization without constraints |
| LO08 | Applying matrix theory in constrained optimization. |
| LO09 | Applying matrix theory in unconstrained optimization |
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 | Analyzes/interprets at the conceptual level to develop solutions to problems | 5 |
| PLO07 | Beceriler - Bilişsel, Uygulamalı | Collects/analyses data from reliable data sources for the purpose of study | 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 of research | |
| PLO10 | Beceriler - Bilişsel, Uygulamalı | Adapts traditional approaches, practices and methods to a new study when necessary | |
| PLO11 | Beceriler - Bilişsel, Uygulamalı | Uses a package program of Econometrics, Statistics, and Operation Research | |
| PLO12 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Leads by taking responsibility individually and/or within the team | |
| PLO13 | 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 | |
| PLO14 | Yetkinlikler - Öğrenme Yetkinliği | Being aware of the necessity of lifelong learning, it follows the current developments in the field / constantly renews itself | |
| 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 |
| 2 | Profit maximization: duopoly and olygoply | Reading the textbook | Öğretim Yöntemleri: Anlatım, Tartışma |
| 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: Soru-Cevap, Tartışma, 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 |
| 10 | Multivariate calculus, application | Reading the textbook | Öğretim Yöntemleri: Anlatım, Alıştırma ve Uygulama |
| 11 | Intro to unconstrained optimization | Reading the textbook | Öğretim Yöntemleri: Anlatım |
| 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 |
| 14 | Expenditure minimization | Reading the textbook | Öğretim Yöntemleri: Anlatım, Alıştırma ve Uygulama |
| 15 | Review | Reading the textbook | Öğretim Yöntemleri: Soru-Cevap, 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 |
Assessment (Exam) Methods and Criteria
| Assessment Type | Midterm / Year Impact | End of Term / End of Year Impact |
|---|---|---|
| 1. Midterm Exam | 100 | 40 |
| General Assessment | ||
| Midterm / Year Total | 100 | 40 |
| 1. Final Exam | - | 60 |
| Grand Total | - | 100 |
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 | ||