Mathematics for Economists

This subject is not offered in 2014.

ECON30020 Mathematical Economics

And one of

ECON40001 Advanced Microeconomics

OR

ECON90002 Microeconomics

None

Prior exposure to real analysis is desirable.

None

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

This subject introduces students to the use of advanced mathematics in economics. After reviewing basic concepts we will study in detail some of the classic existence proofs in game theory and general equilibrium theory. Students will be expected to solve problems and generate proofs, and will be assessed on this.

On successful completion of this subject students should be able to understand the definitions and fundamental concepts of linear algebra, vector calculus, and real analysis as they relate to studies in advanced economics. They should be able to use these tools to:

• prove relevant optimisation theorems;
• set up and solve optimal control problems;
• set up and solve dynamic programming problems.

• 5 assignments consisting of problems and exercises, due weeks 2, 4, 6, 8 and 10 (80%)
• A two-hour final examination (20%)

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

High level of development:

• problem solving;
• interpretation and analysis;
• critical thinking.

Moderate level of development:

• oral communication;
• written communication;
• collaborative learning;
• team work;
• application of theory to practice;
• receptiveness to alternative ideas.

Some level of development:

• synthesis of data and other information;
• evaluation of data and other information;
• use of computer software;
• accessing data and other information from a range of sources.