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Department of Mathematics
ECON 215 | Course Introduction and Application Information
| Course Name |
Mathematical Economics I
|
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
|
ECON 215
|
Fall/Spring
|
3
|
0
|
3
|
4
|
| Prerequisites |
None
|
|||||
| Course Language |
English
|
|||||
| Course Type |
Elective
|
|||||
| Course Level |
First Cycle
|
|||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | - | |||||
| National Occupation Classification | - | |||||
| Course Coordinator | ||||||
| Course Lecturer(s) | ||||||
| Assistant(s) | ||||||
| Course Objectives | This course provides the mathematical foundation required for rigorous economic modeling. Students will acquire essential techniques and concepts—such as matrix algebra, derivatives, and differentiation—to construct and solve models. Core topics include equilibrium analysis, comparative statics, and both constrained and unconstrained optimization methods. |
| Learning Outcomes |
The students who succeeded in this course;
|
| Course Description | This course offers a rigorous introduction to the mathematical methods indispensable for undergraduate economic theory and quantitative analysis. Students will acquire proficiency in linear algebra, differential calculus, and optimization techniques—both constrained and unconstrained—to formulate and solve models of consumer choice, firm behavior, and market equilibria. |
| Related Sustainable Development Goals |
|
|
|
Core Courses | |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Management Skills Courses | ||
| Transferable Skill Courses |
WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES
| Week | Subjects | Related Preparation |
| 1 | The Nature of Mathematical Economics and Economic Models | Chapter 1 & 2 in C&W |
| 2 | Equilibrium Analysis in Economics | Chapter 3 in C&W |
| 3 | Linear Models and Matrix Algebra | Chapter 4 in C&W |
| 4 | Linear Models and Matrix Algebra | Chapter 5 in C&W |
| 5 | Comparative Statics and the Concept of Derivative | Chapter 6 in C&W |
| 6 | Rules of Differentiation and Their Use in Comparative Statics | Chapter 7 in C&W |
| 7 | Rules of Differentiation and Their Use in Comparative Statics | Chapter 7 in C&W |
| 8 | Comparative-Static Analysis of General-Function Models | Chapter 8 in C&W |
| 9 | Midterm Exam | |
| 10 | Comparative-Static Analysis of General-Function Models | Chapter 8 in C&W |
| 11 | Optimization: A Special Variety of Equilibrium Analysis | Chapter 9 in C&W |
| 12 | The Case of More than One Choice Variable | Chapter 11 in C&W |
| 13 | The Case of More than One Choice Variable | Chapter 11 in C&W |
| 14 | Optimization with Equality Constraints | Chapter 12 in C&W |
| 15 | Optimization with Equality Constraints | Chapter 12 in C&W |
| 16 | Final Exam |
| Course Notes/Textbooks | Alpha C. Chiang and Kevin Wainwright: Fundamental Methods of mathematical Economics (C&W) |
| Suggested Readings/Materials | Todorova T. Problems book to accompany mathematics for economists, Sydsaeter and Hammond, Essential mathematics for economic analysis |
EVALUATION SYSTEM
| Semester Activities | Number | Weigthing |
| Participation |
1
|
10
|
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques |
2
|
20
|
| Portfolio | ||
| Homework / Assignments | ||
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exams | ||
| Midterm |
1
|
30
|
| Final Exam |
1
|
40
|
| Total |
| Weighting of Semester Activities on the Final Grade |
4
|
60
|
| Weighting of End-of-Semester Activities on the Final Grade |
1
|
40
|
| Total |
ECTS / WORKLOAD TABLE
| 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
|
3
|
48
|
| Field Work |
0
|
||
| Quizzes / Studio Critiques |
2
|
2
|
4
|
| Portfolio |
0
|
||
| Homework / Assignments |
0
|
||
| Presentation / Jury |
0
|
||
| Project |
0
|
||
| Seminar / Workshop |
0
|
||
| Oral Exam |
0
|
||
| Midterms |
1
|
20
|
20
|
| Final Exam |
1
|
20
|
20
|
| Total |
140
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
|
#
|
Program Competencies/Outcomes |
* Contribution Level
|
|||||
|
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. |
-
|
-
|
-
|
-
|
-
|
|
| 5 |
To be able to share the ideas and solution proposals to problems on issues in the field with professionals, non-professionals. |
-
|
-
|
-
|
-
|
-
|
|
| 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. |
-
|
-
|
-
|
-
|
-
|
|
| 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. |
-
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-
|
-
|
-
|
-
|
|
| 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. |
-
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-
|
-
|
-
|
-
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|
| 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. |
-
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-
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-
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-
|
-
|
|
| 13 |
To be able to relate the knowledge accumulated throughout the human history to their field of expertise. |
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-
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-
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-
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-
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|
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
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