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.
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 Entry Requirements:

-

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%.

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, 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, -.