Kaisa_2012_3_photo by Veikko Somerpuro

18.12.2019 at 08:00 - 7.1.2020 at 23:59


Fri 17.1.2020
12:00 - 16:00


For first year master students of students studying in the agricultural and environmental economics master program. I period.

Exchange students, and students from other programs are also welcome to participate.

Mathematics for economists 1-2, course code YET-023. Equivalent to old mathematics for economists 1 and mathematical economists, course codes YET-010 and YET-201 or Y100. Students should know the basics of matrix operations, solving equations and equation systems, differentiation, partial differentiation and optimisation with and without constraints.

Students will know and recognise most of the mathematical techniques and methods that are used in economics. Students understand the mathematical methods used in AGERE courses. Students are able to apply these methods to solve problems in economics.

First year master students, or advanced bachelor students. In the first period.

Determinant, Cramer’s rule, matrix definiteness, eigenvalues and eigenvectors, local and global minima and maxima, Hessian matrix, concavity and convexity of a function, constrained optimisation, Lagrangian, bordered Hessian, sufficient conditions, inequality constrained optimisation, total differential, chain rule, implicit function rule and derivates, integral calculus, differential equations and difference equations.

  • Exam
  • Course includes 18 hours of lectures, 6 hours of exercise lectures and 111 hours of self-studying.
  • Exercise are fundamental part of the course. Course includes 3 exercise lectures, where students can compare their own solutions to the model solution.

Sydsäeter & Hammond: Essential mathematics for economic analysis; Sydsäeter et al.: Further mathematics for economic analysis; Chiang & Wainwright: Fundamental Methods of Mathematical Economics

Graded 0-5 based on mid-term exams. Bonus-points from exercise.

Teaching language is english.

Väinö Nurmi

Course replaces YET-206, YLE11 Matematiikkaa taloustieteilijöille, and YE19 B.