MATHEMATICS APPLIED IN ECONOMICS

Overview

Lecturer

Adrian Ioan Căbulea

Seminar tutor

Pax Dorin Wainberg-Drăghiciu

Type of course

Compulsory

Language of instruction

English

Erasmus language

English

Domain

Business Administration

Field of study

Business Administration (in English)

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. The concepts are illustrated with actual examples from the specialized literature.

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.

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.

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%.

Overview

Aims

Course contents

Learning outcomes

Assessment

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