Course: Mathematical Economics

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Course title Mathematical Economics
Course code KMA/ME
Organizational form of instruction Lecture + Exercise
Level of course Master
Year of study not specified
Semester Summer
Number of ECTS credits 4
Language of instruction Czech
Status of course Compulsory-optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
  • Stoklasa Jan, Mgr. et Mgr. Ph.D.
  • Pavlačka Ondřej, RNDr. Ph.D.
Course content
1. Goals of mathematical economics, mathematics in economics, designing models in mathematical economics 2. Functions in economics, total, average, and marginal values 3. Elasticity of a function 4. Modeling of oscillations in economy, cobweb models 5. Consumer theory, utility theory 6. Demand 7. Forming of supply, production 8. Cobb-Douglas production function 9. Activity analysis (alternative approach to supply) 10. Welfare economics (alternative approach to demand) 11. Consumption, savings and investments 12. Theory of economic growth, accumulation of capital

Learning activities and teaching methods
Lecture, Dialogic Lecture (Discussion, Dialog, Brainstorming)
  • Attendace - 39 hours per semester
  • Semestral Work - 40 hours per semester
  • Preparation for the Exam - 40 hours per semester
Learning outcomes
Gain basic knowledge and practical skills concerning the use of mathematical tools in economics; understand the philosophy of basic economical models and the use of mathematics in economics.
Understanding Understand the mathematical basics of economics, overview of the basic approaches to modeling in economics.
Basic courses of mathematics and economy.

Assessment methods and criteria
Mark, Oral exam, Seminar Work

Credit: Seminar paper (economical model using the knowledge and methods included in Mathematical economics) Exam: The student has to prove his/her active knowledge of the theory and methods included in Mathematical economics.
Recommended literature
  • Baldani, J., Bradfield, J., Turner, R. W. (2005). Mathematical economics. Thomson South-Western, 2. vydání.
  • Bauerová, D., Hrbáč, L. a kol. (1995). Matematická ekonomie II.. VŠB-TU, Ostrava.
  • Bauerová, D., Hrbáč, L. a kol. (1995). Matematická ekonomie I.. VŠB-TU, Ostrava.
  • Hands, D. W. (2004). Introductory mathematical economics. Oxford University Press, 2. vydání.
  • Soper, J. (2004). Mathematics for economics and business: an interactive introduction. Wiley-Blackwell, 2. vydání.
  • Takayama, A. (1985). Mathematical economics. Cambridge University Press, 2. vydání.

Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Science Applications of Mathematics in Economy (2015) Mathematics courses 1 Summer