Course title  Mathematical Models in Economy 

Course code  KMA/MME 
Organizational form of instruction  Lecture + Exercise 
Level of course  Bachelor 
Year of study  not specified 
Semester  Winter 
Number of ECTS credits  4 
Language of instruction  Czech 
Status of course  Compulsoryoptional 
Form of instruction  Facetoface 
Work placements  This is not an internship 
Recommended optional programme components  None 
Lecturer(s) 


Course content 
1. Historical development of mathematical modeling in Economics; classification of mathematical modelling tools in Economics. 2. Network analysis models  basics to graph theory, CPM. 3. Network analysis models  PERT; timecost analysis. 4. Queueing theory models  birthanddeath process for the singleserver case. 5. Queueing theory models  birthanddeath process for the multipleserver case. Optimization models. 6. Renewal of ageing equipment models. Renewal of failing element models. 7. Deterministic inventory models  periodic review: uniform demand (shortages not permitted, sgortagges permitted). 8. Deterministic inventory models  discountinuous demand, quantity discounts (shortages not permitted). 9. Deterministic inventory multiproduct  inventory strategies, inventory control under the constraints. 10. Stochastic inventory models  a single period model with no setup cost. 11. Inputoutput analysis  the open Leontief´s model, distribution equation system. 12. Inputoutput analysis  relation between the price of the total production and value addend by working; dynamization of an inputoutput model.

Learning activities and teaching methods 
Lecture, Projection (static, dynamic)

Learning outcomes 
To know and to comprehend selected models in economics.
Application be able to apply knowledge gained in the subjects of Mathematics 1,2, Economics 1,2, event. Business Economics and Management 1,2 to solving selected problems of economy, event. economics 
Prerequisites 
Basic courses of mathematics, statistics and economy.
KMA/PMS1  or  KMA/PST1 
Assessment methods and criteria 
Oral exam, Student performance, Seminar Work
Credit: the student has to solve a problem of network analysis  to find a critical path in a network graph describing an activity being chosen by him/her using the CPM method. The student has to pass a test (at least 50%). Exam: the student has to be able to describe particular models and to solve basic problems with these models. 
Recommended literature 

Study plans that include the course 
Faculty  Study plan (Version)  Branch of study Category  Recommended year of study  Recommended semester 
