KA8. Mathematical Methods in Economics

Code: 70175 Credits: 9

Objectives

The unit focuses first on optimization and comparative statics. Later on, it concentrates on difference and differential equations, dynamic systems and the economic applications of these. The purpose is that after the unit the student is able to solve and analyze economic models in static and dynamic environment.

Prerequisites

At least study units KA4 and KA5 and minor subject studies as Course in Mathematical Analysis and Introduction to Statistics.

Mode of assessment

A lecture course (36 hours) in Finnish, practical exercises and examinations.

Courses

Literature:

Chiang A C & Wainwright K : Fundamental Methods of Mathematical Economics. 4th ed., chapters 12-20 (pages 347-654).

Instead of the above mentioned book, chapters 14-19 (pages 444-630), it is also possible to read the finnish hand-out:

Palokangas T : Luentoja kansantaloustieteen dynaamisista matemaattisista menetelmistä. Opetusmonisteita. Helsingin yliopiston kansantaloustieteen laitos. No. 2:1999.

The hand-out is available on the www-site: http://www.valt.helsinki.fi/blogs/palokangas/teach.htm