ECON 213 | Course Introduction and Application Information - Department of Mathematics

Course Name

Mathematical Economics I

Code	Semester	Theory (hour/week)	Application/Lab (hour/week)	Local Credits	ECTS
ECON 213	Fall/Spring	3	0	3	5

Prerequisites	None
Course Language	English
Course Type	Service Course
Course Level	First Cycle
Mode of Delivery	-
Teaching Methods and Techniques of the Course	-
National Occupation Classification	-
Course Coordinator	-
Course Lecturer(s)	Prof. Dr. Celal KÜÇÜKER
Assistant(s)	-

Course Objectives

The main aim of this course is to introduce fundamental mathematical tools utilized in the mathematical approach to economic analysis. The course aims to relate these mathematical tools to various types of economics problems. In particular, the emphasis will be on static analysis, comparative static analysis and optimization problems.

Learning Outcomes

The students who succeeded in this course;

Will be able to use basic and fundamental mathematical tools.
Will be able to describe an economic model mathematically.
Will be able to solve a system of equations both by substitution and linear algebra methods.
Will be able to analyze input output economics by using matrix algebra.
Will be able to conduct comparative static analysis
Will be able to solve optimization problems.

Course Description

This course will extensively use algebra and basic calculus. The course focuses mainly on the following; static analysis, linear models and matrix algebra, comparative static models, optimization problems with equality constraints.

Course Category	Core Courses
	Major Area Courses
	Supportive Courses	X
	Media and Management Skills Courses
	Transferable Skill Courses

Week	Subjects	Related Preparation	Learning Outcome
1	The Nature of Mathematical Economics	Chiang Chapter 1
2	Economic Models and Equilibrium Analysis in Economics	Chiang Chapters 2, 3
3	Linear Models and Matrix Algebra	Chiang Chapter 4
4	Linear Models and Matrix Algebra	Chiang Chapter 5
5	Linear Models and Matrix Algebra	Chiang Chapter 5
6	Matrix Algebra Application to Economic systems	Chiang Chapter 5
7	Midterm Exam 1
8	Rules of Differentiation and Their Use in Comparative Statics	Chiang Chapter 7
9	Comparative Static Analysis of General Function Models	Chiang Chapter 8
10	Optimization: A Special Variety of Equilibrium Analysis	Chiang Chapter 9
11	Midterm Exam II
12	The Case of More Than One Choice Variable	Chiang Chapter 11
13	Optimization with Equality Constraints	Chiang Chapter 12
14	Optimization with Equality Constraints	Chiang Chapter 12
15	Review of the Semester
16	Review of the Semester

Course Notes/Textbooks	Chiang, A.C. (2005), ‘Fundemantal Methods of Mathematical Analysis, McGrawHill.
Suggested Readings/Materials

Semester Activities	Number	Weigthing
Participation	1	5
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments	1	25
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm	1	30
Final Exam	1	40
Total

Weighting of Semester Activities on the Final Grade	1	60
Weighting of End-of-Semester Activities on the Final Grade	3	40
Total

Semester Activities	Number	Duration (Hours)	Workload
Theoretical Course Hours (Including exam week: 16 x total hours)	16	3	48
Laboratory / Application Hours (Including exam week: '.16.' x total hours)	16		0
Study Hours Out of Class	16	2	32
Field Work			0
Quizzes / Studio Critiques			0
Portfolio			0
Homework / Assignments	1	20	20
Presentation / Jury			0
Project			0
Seminar / Workshop			0
Oral Exam			0
Midterms	1	20	20
Final Exam	1	30	30
		Total	150

#	PC Sub	Program Competencies/Outcomes	* Contribution Level
#	PC Sub	Program Competencies/Outcomes	1	2	3	4	5
1	To be able to have a grasp of basic mathematics, applied mathematics or theories and applications of statistics.		-	-	-	-	-
2	To be able to use advanced theoretical and applied knowledge, interpret and evaluate data, define and analyze problems, develop solutions based on research and proofs by using acquired advanced knowledge and skills within the fields of mathematics or statistics.		-	-	-	-	-
3	To be able to apply mathematics or statistics in real life phenomena with interdisciplinary approach and discover their potentials.		-	-	-	-	-
4	To be able to evaluate the knowledge and skills acquired at an advanced level in the field with a critical approach and develop positive attitude towards lifelong learning.		-	-	-	-	X
5	To be able to share the ideas and solution proposals to problems on issues in the field with professionals, non-professionals.		-	-	-	-	X
6	To be able to take responsibility both as a team member or individual in order to solve unexpected complex problems faced within the implementations in the field, planning and managing activities towards the development of subordinates in the framework of a project.		-	-	-	X	-
7	To be able to use informatics and communication technologies with at least a minimum level of European Computer Driving License Advanced Level software knowledge.		-	-	-	-	-
8	To be able to act in accordance with social, scientific, cultural and ethical values on the stages of gathering, implementation and release of the results of data related to the field.		-	-	-	-	-
9	To be able to possess sufficient consciousness about the issues of universality of social rights, social justice, quality, cultural values and also environmental protection, worker's health and security.		-	-	-	-	-
10	To be able to connect concrete events and transfer solutions, collect data, analyze and interpret results using scientific methods and having a way of abstract thinking.		-	-	-	-	-
11	To be able to collect data in the areas of Mathematics or Statistics and communicate with colleagues in a foreign language.		-	-	-	-	-
12	To be able to speak a second foreign language at a medium level of fluency efficiently.		-	-	-	X	-
13	To be able to relate the knowledge accumulated throughout the human history to their field of expertise.		-	-	-	-	-