Course: Applications of Mathematics in Economics

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Course title Applications of Mathematics in Economics
Course code KMD/AME-E
Organizational form of instruction Lecture + Lesson
Level of course Bachelor
Year of study not specified
Semester Winter and summer
Number of ECTS credits 5
Language of instruction Czech
Status of course Optional
Form of instruction Face-to-face
Work placements Course does not contain work placement
Recommended optional programme components None
Lecturer(s)
  • Bittnerová Daniela, RNDr. CSc.
Course content
1. Basic mathematical resources. Basic mathematical resources. Economic functions, total, marginal, and average quantities, elasticity functions. Derivatives, integrals, functions of several variables, differential equations. 2. Mathematics in microeconomics. Microeconomic functions and their basic role the utility function and utility maximization, cost function and minimize average costs, and maximizing revenue function of total revenue, profit function and maximizing total profit, production function and optimum cost. 3. Some applications of the integral calculus. Total and marginal values. Investment and capital formation. Continuous interest. Excess consumer surplus producer. 4. Some applications of the differential calculus of functions of several variables. Optimization of economic relations leading to the local, constrained and global extremes. 5. Some applications of differential equations. Models of population growth Malthusian model, logistic curve. 6. Time series. Economic applications. 7. Apllications of linear algebra. Block matrices . Transportation problem, solving practical example.

Learning activities and teaching methods
Monological explanation (lecture, presentation,briefing)
Learning outcomes
The main goal of this subject is to recapitulate and extend the most important parts of mathematics leading to economical applications. Moreover, to practice and elaborate the knowledge about it in economical applications.
Using mathematics in practical economical examples.
Prerequisites
Basic knowledge of the differential and integral calculus.

Assessment methods and criteria
Combined examination

Credit: Participation on seminars. Working out seminar work.
Recommended literature


Study plans that include the course
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