Faculty Of Economıc, Admınıstratıve And Socıal Scıences
Internatıonal Tradıng And Logıstıcs (Englısh)
Course Information
| FINANCIAL MATHEMATICS | |||||
|---|---|---|---|---|---|
| Code | Semester | Theoretical | Practice | National Credit | ECTS Credit |
| Hour / Week | |||||
| MAN221 | Fall | 3 | 0 | 3 | 5 |
| Prerequisites and co-requisites | |
|---|---|
| Language of instruction | English |
| Type | Elective |
| Level of Course | Bachelor's |
| Lecturer | Dr. Ayhan DEMİRCİ |
| Mode of Delivery | Face to Face |
| Suggested Subject | |
| Professional practise ( internship ) | None |
| Objectives of the Course | The aims of this course is to set up mathematical models of economics and analyse macroeconomic relationship by using economic variables, constants, and parameters. In addition to intutitive arguments, this lecture purposes to benefit from functions, algebraic models, and calculus methods in the solution of economic problems. |
| Contents of the Course | Functions, matrix and vector spaces, derivatives, dynamic analysis, differentialanalysis |
Learning Outcomes of Course
| # | Learning Outcomes |
|---|---|
| 1 | The students inference mathematical foundations of the macroeconomic and microeconomic models. |
| 2 | The students gain proficiency to make inferences about algebra and calculus concepts |
| 3 | The students use mathematics as an economist by setting the models up and analyzing them, |
| 4 | The students develop quantitative perspectives for the solution of economic problems. |
Course Syllabus
| # | Subjects | Teaching Methods and Technics |
|---|---|---|
| 1 | The definition of economics as an system and set of paradigm shifts | Interactive Written Expression |
| 2 | The nature of mathematical economics and economic models | Interactive Written Expression |
| 3 | Introduction to Linear Models and Matrix Algebra | Interactive Written Expression |
| 4 | Introduction to Comparative Stationarity and Derivative Concept | Interactive Written Expression |
| 5 | Introduction to Economic Dynamics and Integral Calculus | Interactive Written Expression |
| 6 | Economic Models and key components of a mathematical models, Type of Functions. | Interactive Written Expression |
| 7 | The meaning of balance, Partial Market Equilibrium, General Market Equilibrium, National Income Balance Analysis | Interactive Written Expression |
| 8 | Mid-Term Exam | Open-end question |
| 9 | Extreme Value for functions with two variables, First-Order conditions, Second order conditions(partial and total derivative), | Interactive Written Expression |
| 10 | Objective functions with more than two variables, First order conditions, Second order conditions and “n variables models” | Interactive Written Expression |
| 11 | Convexity and concavity as related with second and first order conditions, economic applications. | Interactive Written Expression |
| 12 | Sin and Cos Functions, Fourier Series, Euler Relations, and economic applications | Interactive Written Expression |
| 13 | Utility maximization and consumer demand, inflation and unemployment interaction, Samuelson's accelerator and multiplier effects. | Interactive Written Expression |
| 14 | A Brief Introduction To Dynamic Optimisation Models | Interactive Written Expression |
| 15 | Overview | Interactive Written Expression |
| 16 | Final Exam | Open-end question |
Course Syllabus
| # | Material / Resources | Information About Resources | Reference / Recommended Resources |
|---|---|---|---|
| 1 | A. Chiang, K. Wainwright. Fundamental Methods of Mathematical Economics McGraw-Hill Education; 4 edition (October 2004). | ||
| 2 | M. W. Klein. Mathematical Methods in Economics, Addison-Wesley, Pearson; 2 edition (July 23, 2001) | ||
| 3 | P. Samuelson, Economic Theory and Mathematics--An Appraisal. The American Economic Review Vol. 42, No. 2, May, 1952 | ||
| 4 | K. Boulding. Samuelson's Foundations: The Role of Mathematics in Economics. Journal of Political Economy Vol. 56, No. 3, Jun., 1948. | ||
| 5 | Foundations of Economic Analysis, Enlarged Edition Harvard University Press; Enlarged Edition edition (January 1, 1983). |
Method of Assessment
| # | Weight | Work Type | Work Title |
|---|---|---|---|
| 1 | 40% | Mid-Term Exam | Mid-Term Exam |
| 2 | 60% | Final Exam | Final Exam |
Relationship between Learning Outcomes of Course and Program Outcomes
| # | Learning Outcomes | Program Outcomes | Method of Assessment |
|---|---|---|---|
| 1 | The students inference mathematical foundations of the macroeconomic and microeconomic models. | 1͵4͵9͵12͵13 | 1͵2 |
| 2 | The students gain proficiency to make inferences about algebra and calculus concepts | 1͵4͵9͵12͵13 | 1͵2 |
| 3 | The students use mathematics as an economist by setting the models up and analyzing them, | 1͵4͵9͵12͵13 | 1͵2 |
| 4 | The students develop quantitative perspectives for the solution of economic problems. | 1͵4͵9͵12͵13 | 1͵2 |
Work Load Details
| # | Type of Work | Quantity | Time (Hour) | Work Load |
|---|---|---|---|---|
| 1 | Course Duration | 14 | 3 | 42 |
| 2 | Course Duration Except Class (Preliminary Study, Enhancement) | 14 | 2 | 28 |
| 3 | Presentation and Seminar Preparation | 0 | 0 | 0 |
| 4 | Web Research, Library and Archival Work | 0 | 0 | 0 |
| 5 | Document/Information Listing | 0 | 0 | 0 |
| 6 | Workshop | 0 | 0 | 0 |
| 7 | Preparation for Midterm Exam | 1 | 28 | 28 |
| 8 | Midterm Exam | 1 | 2 | 2 |
| 9 | Quiz | 0 | 0 | 0 |
| 10 | Homework | 0 | 0 | 0 |
| 11 | Midterm Project | 0 | 0 | 0 |
| 12 | Midterm Exercise | 0 | 0 | 0 |
| 13 | Final Project | 0 | 0 | 0 |
| 14 | Final Exercise | 0 | 0 | 0 |
| 15 | Preparation for Final Exam | 1 | 47 | 47 |
| 16 | Final Exam | 1 | 3 | 3 |
| 150 | ||||