Module Code: EC7038
- ECTS Credit: 10
- Mandatory/Optional: Mandatory
- Module Coordinator: Mr Bruno Morando
Aims of Module
This module is an overview of the most important mathematics techniques used in economic analysis. The module consists of two parts. The first week will be devoted to the tools used in microeconomics, ranging from set theory to optimization with non-linear constraints. In the second week, we will go through techniques typically used in macroeconomics such as integral calculus and dynamic analysis, both in discrete and continuous time.
The module consists of 10 lectures of 3 hours each. Slides and other teaching material will be provided to the students at the end of each class.
Upon the completion of the modules, students will be familiar with the most important mathematics tool applied in micro and macroeconomics.
Lectures (first week):
- Sets, vectors and linear algebra
- One-variable calculus
- Multi-variable calculus
- Optimization with equality constraints
- Optimization with inequality constraints
Lectures (second week):
- Integral calculus and first-order differential equations
- First-order difference equations and discrete time analysis
- Simultaneous differential equations
- Optimal control theory (introduction)
Simon and Blume (1994) Mathematics for Economists. Norton.Chiang and Wainwright (2005) Fundamental Methods of Mathematical Economics. McGraw-Hill.