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Lecturer(s)
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Pavlačka Ondřej, RNDr. Ph.D.
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Course content
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1. Goals of mathematical economics, mathematics in economics, designing models in mathematical economics 2. Functions in economics, total, average, and marginal values, elasticity of a function 3. Modeling of oscillations in economy, cobweb models 4. Utility function and its maximization 5. Optimization of cost, benefit and profit functions 6. Production function, isoquantant analysis, Cobb-Douglas production function 7. Activity analysis (alternative approach to supply). Welfare economics (alternative approach to demand) 8. Consumption, savings and investments, accumulation of capital 9. Money demand and money supply 10. Multiplier effect and income determination
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Learning activities and teaching methods
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Lecture, Dialogic Lecture (Discussion, Dialog, Brainstorming)
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Learning outcomes
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Gain basic knowledge and practical skills concerning the use of mathematical tools in economics; understand the philosophy of basic economical models and the use of mathematics in economics.
Understanding Understand the mathematical backgrounds of economics, overview of the basic approaches to modeling in economics.
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Prerequisites
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Basic courses of mathematics and economy.
KMA/MA1 and MRS/EKON
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Assessment methods and criteria
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Mark, Oral exam, Written exam
Credit: Active participation. Written test. Exam: Oral.
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Recommended literature
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Bauerová, D., Hrbáč, L. a kol. (1995). Matematická ekonomie II.. VŠB-TU, Ostrava.
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Bauerová, D., Hrbáč, L. a kol. (1995). Matematická ekonomie I.. VŠB-TU, Ostrava.
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Guirguis, M. (2018). Introduction to Mathematical Economics: A Practical Guide for Second and Third Year. SSRN.
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Hands, D. W. (2004). Introductory mathematical economics. Oxford University Press, 2. vydání.
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Volná, B., Smítalová, K. (2013). Matematika v ekonomii. Slezská univerzita v Opavě, Opava.
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