2024
Mathematics Applied to Economics and Management I
Name: Mathematics Applied to Economics and Management I
Code: MAT02312L
6 ECTS
Duration: 15 weeks/156 hours
Scientific Area:
Mathematics
Teaching languages: Portuguese
Languages of tutoring support: Portuguese
Regime de Frequência: Presencial
Sustainable Development Goals
Learning Goals
Objectives of the curricular unit: Introduction to mathematical methods applied to Economics and Management, in particular applied mathematical methods in modeling, static analysis of equilibrium, solving systems of linear equations, and calculus and prediction of growth and change.
Competences to develop: The acquisition of theoretical content of the program will enable the students to use and interpret specific concepts and symbols of mathematics, to present strategies for solving problems, interpreting and criticizing the results. Making connections between mathematical concepts and economic concepts, being able to solve problems in economic context by applying mathematical methods.
Acquired mathematical skills will be sufficient to read, understand and interpret some existing economic literature.
Competences to develop: The acquisition of theoretical content of the program will enable the students to use and interpret specific concepts and symbols of mathematics, to present strategies for solving problems, interpreting and criticizing the results. Making connections between mathematical concepts and economic concepts, being able to solve problems in economic context by applying mathematical methods.
Acquired mathematical skills will be sufficient to read, understand and interpret some existing economic literature.
Contents
I. Motivation
1.1. Supply, demand and profit in terms of price. Equilibrium.
1.2. Partial market equilibrium and general market equilibrium.
1.3. Equilibrium in national-income analysis.
II. Comparative-Static Analysis
1. Real functions of a single real variable.
1.0. Revisions about functions.
1.1. Rate of change and the derivative.
1.2. Limits. Continuity and differentiability.
1.3. Applications.
2. Functions of vector variable.
2.1. Limits. Continuity. Partial derivatives.
2.2. Applications.
III. Static (or Equilibrium) Analysis
1. Linear models and matrix algebra
1.1. Matrix algebra
1.3. Vector spaces
1.4. Solving linear systems of equations with matrices
1.5. Applications of Gauss-Jordan method.
1.6. Determinants.
1.7. Applications.
2. Matrices incomparative-static analysis
2.1.Jacobian matrix, jacobian determinant, chain rule,
1.1. Supply, demand and profit in terms of price. Equilibrium.
1.2. Partial market equilibrium and general market equilibrium.
1.3. Equilibrium in national-income analysis.
II. Comparative-Static Analysis
1. Real functions of a single real variable.
1.0. Revisions about functions.
1.1. Rate of change and the derivative.
1.2. Limits. Continuity and differentiability.
1.3. Applications.
2. Functions of vector variable.
2.1. Limits. Continuity. Partial derivatives.
2.2. Applications.
III. Static (or Equilibrium) Analysis
1. Linear models and matrix algebra
1.1. Matrix algebra
1.3. Vector spaces
1.4. Solving linear systems of equations with matrices
1.5. Applications of Gauss-Jordan method.
1.6. Determinants.
1.7. Applications.
2. Matrices incomparative-static analysis
2.1.Jacobian matrix, jacobian determinant, chain rule,
Teaching Methods
This is a course with 2x2,5 hours of theoretical-practical lessons per week. In there will be a structured exposition of the subjects using examples, when possible, with emphasis on applications to Economics and Management. Given the pedagogical model adopted, the exposure of such knowledge is complemented with the resolution of exercises that are provided in the previous week. For a proper understanding of the syllabus and for the course successful, students should develop regular work outside the classroom, particularly in the study of concepts and solving exercises. There are numerous exercises in the recommended bibliography, some of them already solved, which may contribute significantly to the success of learning.
Evaluation methods:
Continued evaluation (two mid-terms) with minimal approval grades or final exam (It requires the presence in 75% of the classes );resit exam (without restrictions).
Evaluation methods:
Continued evaluation (two mid-terms) with minimal approval grades or final exam (It requires the presence in 75% of the classes );resit exam (without restrictions).
Teaching Staff
Certificações
