Course: Mathematical Economics

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Course title Mathematical Economics
Course code KMA/MAE
Organizational form of instruction Lecture + Tutorial
Level of course Bachelor
Year of study not specified
Semester Summer
Number of ECTS credits 6
Language of instruction Czech
Status of course Compulsory, Compulsory-optional, Optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Lecturer(s)
  • Stehlík Petr, Doc. RNDr. Ph.D.
  • Tomiczková Světlana, RNDr. Ph.D.
Course content
1. Specifics of mathematical economics. Classification of variables. 2. Decision theory. Optimization vs. game theory. Actions, strategies, behaviour. 3. Static games. Dominance. 4. Nash equilibirum. Best response function. Zero-sum games. 5. Dynamic games. Empirical economics (discrete ultimatum). 6. Mixed games. Market entrance models. 7. Discounting theory. Repetition. Time inconsistency. 8. Continuous approximations. Duopoly, oligopoly models. 9. Collective cooperation. Externalities. Pigou tax. 10. Mechanism design. Moral hazard. Auction theory. 11. Evolutionary stable strategies. 12. Replicator dynamics. Market saturation models. 13. Reserve.

Learning activities and teaching methods
Interactive lecture, Lecture supplemented with a discussion, Task-based study method, Textual studies, Seminar
  • Preparation for an examination (30-60) - 40 hours per semester
  • Individual project (40) - 40 hours per semester
  • Contact hours - 60 hours per semester
prerequisite
professional knowledge
Students should be familiar with basic notions of mathematical calculus (derivatives and integrals, e.g., KMA/MA1,MA2) and probability theory (e.g., KMA/PSA) The knowledge of basic economical principles and theory is an advantage.
learning outcomes
By the end of the course, a successful student should be able to formule simple and extended economical models using mathematical apparatus. He/she will be able to describe the construction of mathematical models for choice topics from microeconomy and macroeconomy., will be able to analyse behaviour of these models, to find general solutions, to give economical and mathematical interpretations of results.
teaching methods
Lecture supplemented with a discussion
Interactive lecture
Seminar
Task-based study method
Textual studies
assessment methods
Combined exam
Report
Seminar work
Group presentation at a seminar
Quality of a written report
Recommended literature
  • ALLEN, R. G. D. Makroekonomická teorie : matematický výklad. Vyd. 1. Praha : Academia, 1975.
  • ALLEN, R. G. D. Matematická ekonomie. Praha : Academia, 1971.
  • Angel de la Fuente. Mathematical Methods and Models for Economists. Cambridge University Press. ISBN 0521585295.
  • Baldani, J. - Brandfield, J. - Turner R. W. Mathematical Economics. South-Western College Pub, 2nd Edition, 2004.
  • Klein, M. Mathematical Methods for Economics. Addison Wesley, 2nd Edition.
  • Quandt, J. M. - Quandt R. E. Microeconomics theory: a mathematical approach. McGrawHill, 1971.
  • Sekerka, Bohuslav. Matematické metody v ekonomii. Praha, 1975.
  • Takayama, Akira. Mathematical economics. 2nd ed. Cambridge ; Cambridge University Press, 1985. ISBN 0-521-31498-4.
  • Vohra, Rakesh V. Advanced mathematical economics. London : Routledge, 2005. ISBN 0-415-70008-6.
  • Webb J. Game Theory. 2007.
  • Zimmermann, K. Úvod do matematické ekonomie. Praha Karolinum, 2002.


Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Applied Sciences Mathematics for Business Studies (2016) Mathematics courses 2 Summer
Faculty of Applied Sciences Mathematics for Business Studies (2015) Mathematics courses 2 Summer
Faculty of Applied Sciences Mathematics and its Applications (2017) Mathematics courses 3 Summer
Faculty of Applied Sciences Mathematics and its Applications (2017) Mathematics courses 3 Summer
Faculty of Applied Sciences Mathematics and its Applications (2015) Mathematics courses 3 Summer
Faculty of Applied Sciences Mathematics for Business Studies (2017) Mathematics courses 2 Summer
Faculty of Applied Sciences Mathematics and its Applications (2016) Mathematics courses 3 Summer
Faculty of Applied Sciences Mathematics and Management (2011) Mathematics courses 2 Summer
Faculty of Applied Sciences Mathematics for Business Studies (2017) Mathematics courses 2 Summer
Faculty of Applied Sciences Mathematics and its Applications (2015) Mathematics courses 3 Summer
Faculty of Applied Sciences Mathematics and its Applications (2016) Mathematics courses 3 Summer
Faculty of Applied Sciences Mathematics for Business Studies (2016) Mathematics courses 2 Summer
Faculty of Applied Sciences Mathematics for Business Studies (2011) Mathematics courses 3 Summer