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Course Information

Course Information

Course Title	Code	Semester	L+U Hour	Credits	ECTS
MATHEMATICAL ECONOMICS	IKT2016	4. Semester	3 + 0	3.0	4.0

Prerequisites

None

Language of Instruction	Turkish
Course Level	Bachelor's Degree
Course Type	Compulsory
Mode of delivery
Course Coordinator
Instructors
Assistants
Goals	The goal of this course is to increase our understanding of how mathematics is used in economics modeling and analysis. Therefore, the methods of comparative static and comparative dynamic analyses are the main building in this course.
Course Content	Introduction Mathematical Economics and Modeling Homogenous functions Euler Theorem Envelope theorem, Indirect Utility Function, Roy’s Identity Envelope theorem, Expenditure Function, Shephard's Lemma Slutsky Equation, Envelope theorem, Profit Function, Hotelling's Lemma Dynamic analysis and integral Definite integral Integral and applications of integral in economics Continuous time: First Order linear differential equations : Constant coefficient and constant term Variable coefficient and variable term Exact differential equations Non-Linear differential equations and graphical Solution method Second Order linear differential equations: Constant coefficient and constant term Price Expectations Model Solow Growth Model Discrete Time, Difference Equations, First order Difference equation Stability of Equilibrium, Cobweb, Inflation – Output Nonlinear difference equations, graphical approach Second order difference equaitons :Constant coefficient and term Simultaneous difference and differential equations Phase Diagram and Economics Dynamic IS-LM Optimal Control Theory Hamiltonian, Application: Ramsey-Cass-Koopmans
Learning Outcomes	1) Students will be able to work with mathematical methods used in economic theory 2) Students will be able to express economic notions mathematically 3) Students will be capable of modelling economic activities formally and analytically