Course code ECN302

ECN302 Mathematics for Economists

English course information

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Viser emneinfo for studieåret 2018 - 2019.

Emneansvarlige: Kyrre Rickertsen
Studiepoeng: 5
Ansvarlig fakultet: Handelshøyskolen
Frekvens: Annually
Undervises på språk: EN
(NO=norsk, EN=Engelsk)
Undervises i periode:
The course has teaching/evaluation in the August block.
Første gang: Studieår 2007-2008
Fortrinnsrett: M-ECON and M-ØA.
Undervises hvor?: Campus Ås
Emnets innhold:
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, Gauss-Jordan 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.
Læringsutbytte:

Knowledge

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

Skills

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

General competence

The student should obtain analytical skills that are needed in more advanced courses in microeconomics and econometrics

Læringsaktiviteter:
The course consists of lectures and exercises. The students are encouraged to work in groups.
Læringsstøtte:
There will be exercises with teaching assistant(s).
Pensum:
  • 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.

Forutsatte forkunnskaper:
Mathematics on the level of MATH100 Introductory Mathematics.
Anbefalte forkunnskaper:
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.
Obligatorisk aktivitet:
-
Vurderingsordning:
Written exam 3,5 hours (100%)
Sensor:
External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
Normert arbeidsmengde:
150 hours. 
Opptakskrav:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Overlapp:
MATH111 Calculus 1 - 1 ECTS, MATH112 Calculus 2 - 1 ECTS, MATH130 Linear Algebra - 2 ECTS
Undervisningstid:
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.
Hjelpemidler ved skriftlig eksamen(er): B2 Utdelt kalkulator Spesifiserte andre hjelpem.
Eksamensdetaljer: En skriftlig eksamen: Bestått / Ikke bestått