ECN302 Mathematics for Economists
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Showing course contents for the educational year starting in 2018 .
Course responsible: Kyrre Rickertsen
ECTS credits: 5
Department: School of Economics and Business
Teaching language: EN
(NO=norsk, EN=Engelsk)
(NO=norsk, EN=Engelsk)
Teaching exam periods:
The course has teaching/evaluation in the August block.
Course frequency: Annually
First time: 2007H
Preferential right:
MECON and MØA.
Course contents:
The course covers mathematical tools that are assumed to be known in courses such as, for example, ECN311 (Microeconomics) and ECN301 (Econometrics). The course is a compulsory course for the M.Sc. degree in Economics at School of Economics and Business, NMBU. Topics covered in matrix algebra include: Summation operators, types of matrixes, matrix operations, GaussJordan elimination, determinants, the inverse of a square matrix, matrix differentiation, Cramer's rule, and the matrix approach to regression. Topics covered in optimization include: Elasticities, the chain rule, unconstrained optimization, equality contrained optimization (Lagrange), inequality contrained optimization (Kuhn Tucker), implicit funtion theorem, and envelope theorem.
Learning outcome:
The student should know:
 Basic matrix algebra
 Calculus of one and several variables
 Concavity and quasiconcavity
 Unconstrained optimization
 Optimization with equality and inequality constraints
 Implicit function theorem
 Envelope theorem
The student should be able to:
 Formulate and solve economic problems
 Work independently with economic problems
 Solve problems that are relevant in economics, for example, optimization and comparative statics problems
The student should obtain analytical skills that are needed in more advanced courses in microeconomics and econometrics
Learning activities:
The course consists of lectures and exercises. The students are encouraged to work in groups.
Teaching support:
There will be exercises with teaching assistant(s).
Syllabus:
Parts of Alpha C. Chiang and Kevin Wainwrigth (2005) Fundamental Methods of Mathematical Economics, McGraw Hill International edition.Lecture notes.
The required readings may change.
Prerequisites:
Mathematics on the level of MATH100 Introductory Mathematics.
Recommended prerequisites:
Microeconomics on the level of ECN210Intermediate Microeconomics Consumers, Producers, Market and Welfare/ECN211 Intermediate Microeconomics  Institutions, Games and Market Failures and other courses in economics.
Mandatory activity:

Assessment:
Written exam 3,5 hours (100%)
Nominal workload:
150 hours.
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Reduction of credits:
MATH111 Calculus 1  1 ECTS, MATH112 Calculus 2  1 ECTS, MATH130 Linear Algebra  2 ECTS
Type of course:
There are four hours of lectures and exercises each day. About half the time will be allocated to lectures and the remaining time will be allocated to exercises.
Examiner:
External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
Allowed examination aids: B2 Calculator handed out, other aids as specified
Examination details: One written exam: Bestått / Ikke bestått