Course CIG 112 · Year I · Autumn 2019-2020

MATHEMATICS APPLIED IN ECONOMICS

Compulsory course in Accounting and Management Information Systems, taught by Pax Dorin Wainberg-Drăghiciu.

This course page is from 2019-2020 and is archived.
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Overview

Lecturer
Pax Dorin Wainberg-Drăghiciu
Seminar tutor
Pax Dorin Wainberg-Drăghiciu
Type of course
Compulsory
Language of instruction
Romanian
Erasmus language
English
Domain
Accounting
Field of study
Accounting and Management Information Systems
Form of education
Full-time
Form of instruction
Class
Credit awarded by
Grade
Teaching methods
Lecture, conversation, exemplification.
Entry requirements
-

Aims

This course is designed to introduce students to various topics in mathematics and uncertainty that they will encounter in economics sciences. Exercises are designed to encourage the student to begin thinking about applied mathematics within a theoretical context.

Today, the theory of applied mathematics has found many applications in economics. In this course, the students will learn the basic terminology and concepts of applied mathematics in economics.

Mathematics is increasingly important in terms of the expression and communication of ideas in economics. A thorough knowledge of mathematics is indispensable for understanding almost all fields of economics, including both applied and theoretical fields.

. Especially understanding of elements of calculus and linear algebra are crucial to the study of economics. This class is designed to provide the appropriate mathematical tools for students who are interested in economics with policy concentration.

Economic concepts and models can often be easily and precisely described in terms of mathematical notation when words and graphs would fail or mislead us so the intent of this course is to teach you the language of mathematics and how to use it to better understand economics.

Course contents

Chapter 1. Linear Programming 1.1. Solving a linear programming problem 1.2. Duality. Dual simplex algorithm 1.3. Reoptimization of linear programming problems 1.4. Parametric linear programming 1.5. Transportation problems 1.6. Reoptimization of transportation problems 1.7. Parametric transportation problems 1.8. Special types of transportation problems Chapter 2. Elements of financial mathematics 2.1. Simple interest 2.2. Compound interest 2.3. Annual installment payments (annuities) 2.4. Repayment of loans and borrowings

Learning outcomes

Modelling and solving some medium complexity level problems, using the mathematical and computer sciences knoweledges

Assessment

Written paper 50%; mid-term test 30%; seminar activities 20%.

Recommended reading

Dixit, A.K., Optimization in economics theory, Oxford University Press, 1990
Simon, C.P., Blume, L., Mathematics for economists, W.W Norton, 1994
Carter, M., Mathematical Economics, MIT, Cambridge, 2001
• Nering, E. D., Tucker, A. W., Linear Programs and Related Problems, Academic Press, Boston, 1993