Mathematical Economics

Course Code: 
4125
Semester: 
7th
Elective Courses
Professor: 

NUMBER OF TEACHING UNITS: 6 credits

Objective of the course (expected learning outcomes and skills to be acquired)

Understanding of some basic mathematical tools of economics, with emphasis on maximization, pareto efficiency, and convexity. With the successful completion of the course the students will be able to solve maximization problems, reason about convex sets and (quasi) concave functions, and solve vector maximization problems

PREREQUISITES: There are no formal prerequisites, but it is useful for students to successfully complete mathematics 1 and 2.

CONTENT OF THE COURSE:

Main problems of optimization. Existence, necessary conditions, sufficient conditions, properties of the solution set.

The Weierstrass existence theorem

Fritz John necessary conditions

Searching for optima

Arrow-Enthoven sufficient conditions

Convex sets

Concave and quasi concave functions.

Quadratic forms.

Vector maximization (Pareto efficiency).

Berge's maximum theorem

Applications to economics

RECOMMENDED READINGS

Mathematical methods in economics, Xepapadeas Anastasios , Giannikos Ioannis

Mathematics of Economics, Hoy Michael, Livernois John, McKenna Chris, Stengos Thanasis, Kyritsis Ioannis (ed.)

Mathematics for economists, Simon and Blume.

TEACHING METHODS: Lectures, tutorials

EVALUATION METHODS: Written examinations (100%), or written examinations (70%) and exercises (30%)

LANGUAGE: Greek.