ECO611 - MATHEMATICAL FOUNDATIONS of ECONOMICS
| Course Name | Code | Semester | Theory (hours/week) |
Application (hours/week) |
Credit | ECTS |
|---|---|---|---|---|---|---|
| MATHEMATICAL FOUNDATIONS of ECONOMICS | ECO611 | 1st Semester | 3 | 0 | 3 | 7 |
| Prequisites | None | |||||
| Course language | English | |||||
| Course type | Elective | |||||
| Mode of Delivery | Face-to-Face | |||||
| Learning and teaching strategies | Lecture Discussion | |||||
| Instructor (s) | Academic Staff | |||||
| Course objective | The goal of this course is to give students an in-depth understanding of the mathematical tools used in master's level micro- and macro-economics courses. | |||||
| Learning outcomes |
| |||||
| Course Content | * Functions * Matrix Algebra * Differential Calculus * Optimization * Integral Calculus * Difference Equations * Differential Equations * Dynamic Optimization | |||||
| References | * Michael W. Klein (2002) Mathematical Methods for Economics, second edition, Pearson Education. (Required) * Carl P. Simon and Lawrence Blume (1994), Mathematics for Economists. N.W. Norton & Company, Inc. * Alpha C. Chiang and Kevin Wainwright (2005), Fundamental Methods of Mathematical Economics, 4th Edition. McGraw Hill. | |||||
Course outline weekly
| Weeks | Topics |
|---|---|
| Week 1 | Functions (1) |
| Week 2 | Functions (2) |
| Week 3 | Matrix Algebra |
| Week 4 | Differnetial Calculus |
| Week 5 | Optimization (1) |
| Week 6 | Optimization (2) |
| Week 7 | Optimization (3) |
| Week 8 | Midterm Exam I |
| Week 9 | Integral Calculus |
| Week 10 | Difference Equations |
| Week 11 | Differnetial Equations (1) |
| Week 12 | Differentail Equations (2) |
| Week 13 | Midterm Exam II |
| Week 14 | Dynamic Optimization (1) |
| Week 15 | Dynamic Optimization (2) |
| Week 16 | Final Exam |
Assesment methods
| Course activities | Number | Percentage |
|---|---|---|
| Attendance | 0 | 0 |
| Laboratory | 0 | 0 |
| Application | 0 | 0 |
| Field activities | 0 | 0 |
| Specific practical training | 0 | 0 |
| Assignments | 8 | 10 |
| Presentation | 0 | 0 |
| Project | 0 | 0 |
| Seminar | 0 | 0 |
| Midterms | 2 | 50 |
| Final exam | 1 | 40 |
| Total | 100 | |
| Percentage of semester activities contributing grade succes | 10 | 60 |
| Percentage of final exam contributing grade succes | 1 | 40 |
| Total | 100 | |
WORKLOAD AND ECTS CALCULATION
| Activities | Number | Duration (hour) | Total Work Load |
|---|---|---|---|
| Course Duration (x14) | 14 | 3 | 42 |
| Laboratory | 0 | 0 | 0 |
| Application | 0 | 0 | 0 |
| Specific practical training | 0 | 0 | 0 |
| Field activities | 0 | 0 | 0 |
| Study Hours Out of Class (Preliminary work, reinforcement, ect) | 14 | 3 | 42 |
| Presentation / Seminar Preparation | 0 | 0 | 0 |
| Project | 0 | 0 | 0 |
| Homework assignment | 8 | 5 | 40 |
| Midterms (Study duration) | 2 | 25 | 50 |
| Final Exam (Study duration) | 1 | 36 | 36 |
| Total Workload | 39 | 72 | 210 |
Matrix Of The Course Learning Outcomes Versus Program Outcomes
| D.9. Key Learning Outcomes | Contrubition level* | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1. Mastering current theoretical developments in economics and comparing alternative perspectives. | X | ||||
| 2. Acquiring knowledge about different theoretical approaches and techniques to decide on specialization within economics. | X | ||||
| 3. Gaining the flexibility to apply acquired theoretical knowledge to real-world problems. | X | ||||
| 4. Developing policy recommendations for real economic issues, analyzing these proposals, and conducting cost-benefit analyses. | X | ||||
| 5. Developing a pluralistic understanding of various economic theories and perspectives to comprehensively analyze practical problems. | X | ||||
| 6. Developing a pluralistic understanding of various economic theories and perspectives to comprehensively analyze practical problems. | X | ||||
| 7. Fostering the responsibility to utilize acquired knowledge for societal welfare and sharing it with the community. | X | ||||
| 8. Embracing high academic standards while conducting independent research. | X | ||||
| 9. Generating original ideas without resorting to ethical violations such as plagiarism or distortion. | X | ||||
| 10. Addressing local economic issues within a global context and considering solutions on a global scale. | X | ||||
| 11. Acquiring the necessary knowledge and technical skills for stable career planning. | X | ||||
| 12. Obtaining language and communication skills to follow the development of economic theory, communicate with other economists worldwide, and sustain this communication. | X | ||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest