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After completing this course the student is able to:
- Solve equations and systems of equations.
- Understand the notion of a function and properties of functions; acquire insight into how economists use functions to model economic systems.
- Differentiate all kinds of mathematical functions including polynomial, exponential and logarithmic functions.
- Find the maximum and minimum value of these functions by taking the derivatives.
- Use the substitution method and the method of Lagrange to find the maximum/minimum value of a function of two variables under constraints.
- Calculate integrals and understand their applications in economics.
- Use (basic) matrix algebra, e.g., to represent the systems of equations.
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Mathematical skills that are taught during the course:
- Solving equations and systems of equations, including the use of matrix algebra to represent the systems of equations.
- Getting acquainted with basic matrix algebra.
- Understanding the notion of a function and properties of functions; acquire insight into how economists use functions to model economic systems.
- Differentiating all kinds of mathematical functions including polynomial, exponential and logarithmic functions.
- Finding the maximum and minimum value of these functions by taking the derivatives.
- Using the substitution method and the method of Lagrange to find the maximum value or the minimum value of a function of two variables under constraints.
- Basics of taking integrals and their applications in economics.
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| No specific additional skills.
It is assumed that students can use elementary algebra rules (adding and multiplication with brackets); and can work with fractions and solve simple equations with one unknown.
These skills are pre-tested in Block 1 using an online test. This test indicates the skills that students must improve before starting the course in Block 3. However, most of the students entering the programme will already have these skills. |
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| The grade is composed of points collected for two online intermediate tests, submitted via the platform SOWISO, an end-of-term, closed-book digital exam, and eventual bonus points.
Assessment criteria for each assessment component
You will use SOWISO platform for submitting two graded TESTs (TEST 1 and TEST 2). Each TEST is worth 5 points (out of 100). If you get M correct answers in a TEST consisting of N questions, then you grade for the TEST in exam points is (M/N)*5. The online TESTs will be done individually in the time scheduled for the student’s workgroup.
How the different components count towards the final grade (if applicable)
Two graded TESTs (TEST 1 and TEST 2) count each for maximum 5 points (out of 100). The final digital exam counts to maximum 90 points. Additional bonus (of maximum 5 points) will be added if you submit all workgroup assignments on SOWISO platform on time (before the actual workgroup). The average grade of these workgroup materials (ranging between 0% and 100%) will be multiplied by 5 bonus points, and the resulting points will be added to the final grade, with a maximum grade of 10.
Requirements for passing the course
You have to obtain at least 49 points (out of 90) for the final exam in order to pass the course.
Partial results from previour years are not valid. |
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| Work forms:
- lectures
- workgroups
- online learning platform |
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