Week 1 - Theoretical
Introduction to Mathematical Economics and Economic ModelingContent: The nature of mathematical economics, types of variables (endogenous/exogenous), types of equations (definitional $Y \equiv C + I + G$, behavioral, equilibrium conditions), and mathematical foundations.Weekly Learning Outcomes:Explain the scope of mathematical economics and its role in economic theory. (Understand)Classify the fundamental components of economic models. (Analyze)Distinguish endogenous and exogenous variables in different economic examples. (Analyze)Formulate simple economic relationships using mathematical symbols. (Apply)Evaluate the advantages and limitations of the modeling process. (Evaluate)CLO Alignment: CLO1, CLO7
Week 2 - Theoretical
Functions and Economic Relationships
Weekly Learning Outcomes:
Express economic relationships in functional form. (Apply)
Compare linear and nonlinear functions. (Analyze)
Interpret demand, supply, and production functions. (Analyze)
Evaluate the graphical properties of functions. (Evaluate)
Construct appropriate functional structures from economic data. (Create)
CLO Alignment: CLO1, CLO2
Week 3 - Theoretical
Limits and Continuity
Weekly Learning Outcomes:
Explain the concept of limits by relating it to economic processes. (Understand)
Examine continuity conditions mathematically. (Analyze)
Apply limit calculation techniques to economic functions. (Apply)
Evaluate the economic consequences of discontinuities. (Evaluate)
Discuss the importance of continuity assumptions in economic models. (Evaluate)
CLO Alignment: CLO1, CLO2
Week 4 - Theoretical
Derivatives and Marginal Analysis
Weekly Learning Outcomes:
Apply derivative calculation methods to economic functions. (Apply)
Interpret the concepts of marginal cost and marginal revenue. (Analyze)
Calculate rates of change of economic variables. (Apply)
Evaluate marginal analysis results in decision-making processes. (Evaluate)
Generate economic implications from derivative results. (Create)
CLO Alignment: CLO2, CLO7
Week 5 - Theoretical
Elasticity and Economic Applications of Derivatives
Weekly Learning Outcomes:
Calculate demand elasticity. (Apply)
Interpret income and cross elasticity measures. (Analyze)
Relate elasticity results to market behavior. (Analyze)
Evaluate the effects of policy changes through elasticity analysis. (Evaluate)
Conduct elasticity analyses using real economic data. (Create)
CLO Alignment: CLO2, CLO5
Week 6 - Theoretical
Multivariable Functions and Partial Derivatives
Weekly Learning Outcomes:
Construct multivariable economic models. (Create)
Calculate partial derivatives. (Apply)
Interpret the concept of marginal product mathematically. (Analyze)
Apply total differentials to economic problems. (Apply)
Evaluate the behavior of production functions. (Evaluate)
CLO Alignment: CLO2, CLO7
Week 7 - Theoretical
Integrated Problem Solving and Advanced Economic Applications
Weekly Learning Outcomes:
Apply differential methods learned during the first six weeks to complex economic problems in an integrated manner. (Apply)
Establish structural connections among different mathematical tools. (Analyze)
Solve economic problems, such as partial market equilibrium and national income models, systematically. (Create)
Critically evaluate the obtained marginal outputs within the context of economic theory. (Evaluate)
CLO Alignment: CLO1, CLO2, CLO7
Week 8 - Theoretical
Unconstrained Optimization
Weekly Learning Outcomes:
Formulate optimization problems mathematically. (Create)
Apply first-order conditions. (Apply)
Identify critical points. (Analyze)
Solve profit-maximization problems. (Apply)
Evaluate results from an economic perspective. (Evaluate)
CLO Alignment: CLO3, CLO7
Week 9 - Theoretical
Second-Order Conditions and the Hessian Matrix
Weekly Learning Outcomes:
Construct the Hessian matrix. (Apply)
Distinguish maximum and minimum points. (Analyze)
Evaluate concavity and convexity. (Evaluate)
Verify optimal solutions mathematically. (Analyze)
Relate results to economic decision-making. (Evaluate)
CLO Alignment: CLO3
Week 10 - Theoretical
Constrained Optimization and the Lagrange Method
Weekly Learning Outcomes:
Construct constrained optimization models. (Create)
Formulate the Lagrangian function. (Apply)
Interpret shadow prices. (Analyze)
Solve consumer equilibrium models. (Apply)
Evaluate resource allocation outcomes. (Evaluate)
CLO Alignment: CLO3, CLO5
Week 11 - Theoretical
Comparative Static Analysis and the Envelope Theorem
Weekly Learning Outcomes:
Conduct comparative static analysis. (Apply)
Examine the effects of parameter changes. (Analyze)
Apply the Envelope Theorem to economic models. (Apply)
Evaluate policy changes. (Evaluate)
Generate conclusions regarding equilibrium changes. (Create)
CLO Alignment: CLO5, CLO7
Week 12 - Theoretical
Matrix Algebra and Linear Economic Models
Weekly Learning Outcomes:
Apply matrix operations. (Apply)
Solve systems of linear equations. (Apply)
Analyze Leontief input-output models. (Analyze)
Express economic systems in matrix form. (Create)
Evaluate results in terms of intersectoral relationships. (Evaluate)
CLO Alignment: CLO4
Week 13 - Theoretical
Differential Equations and Dynamic Models
Weekly Learning Outcomes:
Solve simple differential equations. (Apply)
Construct dynamic economic models. (Create)
Analyze continuous-time systems. (Analyze)
Interpret growth processes. (Analyze)
Relate dynamic results to economic theory. (Evaluate)
CLO Alignment: CLO6, CLO7
Week 14 - Theoretical
Difference Equations, Equilibrium and Stability Analysis
Weekly Learning Outcomes:
Solve difference equations. (Apply)
Identify equilibrium points. (Analyze)
Evaluate stability conditions. (Evaluate)
Construct discrete-time economic models. (Create)
Develop critical interpretations regarding dynamic economic systems. (Evaluate)
CLO Alignment: CLO6, CLO7, CLO8
