ECN102 Introduction to Mathematics for Economists
Credits (ECTS):10
Course responsible:Erlend Dancke Sandorf
Campus / Online:Taught campus Ås
Teaching language:Norsk
Course frequency:Annually
Nominal workload:250 hours
Teaching and exam period:This course has teaching/evaluation in Autumn parallel,
About this course
The course provides a mathematical foundation for studies in economics and business administration. You will learn how to solve linear equations, analyze functions with one and multiple variables with a focus on differentiation, elasticity and curve analysis, as well as solving maximum and minimum problems. In addition, the course covers sequences with applications in financial mathematics.
Learning outcome
Knowledge:
- Has knowledge of fundamental mathematical concepts, mathematical function analysis, and mathematical modeling.
- Has knowledge of how mathematics can be used to solve economic problems in business administration, finance, and economics.
- Is familiar with types of functions with multiple variables (including Cobb-Douglas functions and functions with exponential and logarithmic elements).
Skills:
- Masters a wide range of algebraic operations, including solving inequalities, equations, and systems of equations.
- Can solve problems in financial mathematics, including annuities, loan repayment, savings annuities, and present value.
- Can analyze arithmetic and geometric series, analyze the convergence of geometric series, and determine the sum of convergent infinite geometric series.
- Can analyze single-variable functions such as polynomial functions, rational functions, exponential functions, logarithmic functions, and combinations of these.
- Can apply basic integral calculus related to the types of functions covered in the subject.
General Competence:
- The student is capable of applying mathematics and mathematical models in discussing economic issues.
- The student has a reflective understanding of the possibilities and limitations of mathematics as a tool for economic studies.
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