Course detail

Mathematic of Economics

FP-ImePAcad. year: 2020/2021

The subject deals with the modelling of economic processes (micro and macro) by means of exact means of current engineering mathematics to set up conditions for subsequent computerizing. The contents includes : demand and supply analysis; revenue, cost and profit analysis; elasticity of demand and supply;production;utility; accounting of national income.

Learning outcomes of the course unit

Acquired knowledge and practical skills will be applied to modelling dependencies of factors relating to economic phenomena, explaining their relations and solving problems of microeconomic and macroeconomic environment by with simple mathematical methods.

Prerequisites

Standard courses of engineering mathematics, microeconomics and macroeconomics on bachelor level.

Co-requisites

Not applicable.

Recommended optional programme components

Not applicable.

Recommended or required reading

J. Jacques, Mathematics for Economics and Business, Addison-Wesley, New York, 1995 (EN)
A.C. Chiang, Fundamental Methods of Mathematical Economics, McGraw-Hill Inc., New York, 1984 (EN)
C.J. McKenna and R. Rees, Economics: A Mathematical Introduction, Oxford University Press Inc., New York, 1992 (EN)
J.U. Koch and L.A. Ostrosky, Introduction to Mathematical Economics, McGraw-Hill Inc., Singapore, 1994 (EN)
I. Mezník, Úvod do matematická ekonomie pro ekonomy,FP VUT v Akademickém nakladatelství CERM,s.r.o., Brno 2011 (CS)

Planned learning activities and teaching methods

Instructing is divided into lectures and exercises. Lectures are focused on the theory referring to applications, exercises on practical calculations and solving of application tasks.

Assesment methods and criteria linked to learning outcomes

Conditions for awarding course-unit credits:
- active participation in seminars, where the attendance is compulsory,
- completion of the control semestral written test marked at least with grade "E".

Language of instruction

Czech

Work placements

Not applicable.

Course curriculum

1. Basic principles of economic analysis and modeling
2. Demand and supply
3. Revenue, cost, profit
4. Elasticity
5. Production
6. Utility
7. National income

Aims

The aim of the course is to deal in more detail with the causal substance of economic relations, and to develop abilities and skills necessary to express economic relations by exact means and consequently carry out their analyses.

Specification of controlled education, way of implementation and compensation for absences

Attendance at lectures is not controlled. Attendance at exercises (seminars) is compulsory and is regularly checked. A student is obliged to give reasons for his/her absence. If the teacher accepts the reason for the absence (which is completely under his/her competence), he/she will decide about the form of the compensation for the missed lessons.

Classification of course in study plans

  • Programme MGR-IM Master's, 1. year of study, summer semester, 6 credits, compulsory

  • Programme MGR-SI Master's

    branch MGR-IM , 1. year of study, summer semester, 6 credits, compulsory

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

Exercise

26 hours, compulsory

Teacher / Lecturer

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