#### MATHEMATICS APPLIED IN ECONOMICS

###### Domain: Finance • Field of study: Finance and Banks
 Type of course: Compulsory Language of instruction: English Erasmus Language of instruction: English Name of lecturer: Pax Dorin Wainberg-Drăghiciu Seminar tutor: Pax Dorin Wainberg-Drăghiciu Form of education Full-time
 Form of instruction: Class Number of teaching hours per semester: 56 Number of teaching hours per week: 4 Semester: Autumn Form of receiving a credit for a course: Grade Number of ECTS credits allocated 5

#### Course aims:

This course is designed to introduce students to various topics in mathematics and uncertainty that they will encounter in economics sciences.
The concepts are illustrated with actual examples from the specialized literature. 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 cou
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 calc
This class is designed to provide the appropriate mathematical tools for students who are interested in economics with policy concentration. The formal derivations of the mathematical tools needed will be the heart of this class. Economic concepts and models can often be easily and precisely describ
Therefore, as applications of the mathematical concepts covered in class, examples and motivation will be drawn from important topics in economics.

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#### 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

#### Teaching methods:

Lecture, conversation, exemplification

#### Learning outcomes:

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

#### Learning outcomes verification and assessment criteria:

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