APPLIED MATHEMATICS
- Overview
- Assessment methods
- Learning objectives
- Contents
- Bibliography
- Delivery method
- Teaching methods
Basic knowledge of mathematical calculus and probability will be helpful.
The grade is entirely awarded by a written exam. The assignment includes both multiple choice questions and open-ended questions, with no specific proportion between them.
The course aims at introducing and developing many of the analytical tools which are used in theoretical and applied Economics and Management.
At the end of the course, the student is expected to be capable of:
- using the basic tools and results to pose, formalize and solve an economic model and management analysis
- knowing the extent to which the results obtained in the previous step are dependent on the assumption that has been made about the the model investigated or the analysis performed.
-being able to communicate such findings using appropriate and clear mathematical notation and language
Elements of linear algebra and matrix calculus.
Recap of mathematical calculus.
Linear programming and elements of non linear programming. Foundations of static optimization.
Difference equation and qualitative analysis of discrete dynamical systems. Principles of dynamic programming.
Notions of random variables and stochastic processes: discrete Markov chains.
Math tools for decision making models: graph theory and network analysis, risk analysis and decision trees.
teacher's handnotes and specific references that will be provided during the class:
Suggested references are:
- Werner F, Sotskov YN. Mathematics of economics and business. Taylor & Francis; 2006.
-Hammond P, Strøm A, Sydsæter K. Essential mathematics for economic analysis-Student’s Manual. Pearson Education; 2012.
- Ross, Sheldon M. Introduction to Probability Models, ISE. Academic press, 2006
Teaching and learning activities include face-to-face lectures and practice sessions. The instructor presents quantitative methods with the theoretical background along with practical examples and exercises in management science and economics