|Kratica: ||Opterećenje: 45(P)
|Nositelji: ||prof. dr. sc. Zrinka Lukač
|Izvođači: ||dr. sc. Vedran Kojić
|Opis predmeta: Course Objectives
The course teaches the mathematical skills required for problem solving and decision making in the business world through use of mathematical models and specialized techniques. The objective is to develop an understanding of the uses of mathematics in the study of economics and business, as well as to foster critical thinking and analytical approach to problem solving. The course covers the wide range of mathematical principles and techniques and their economic applications and thus develops the tools to study economics and business with deeper understanding and more effectively. By the end of the course students should be familiar with the mathematical tools covered in class and be able to use these tools in formalizing and solving problems in economics and business.
1. LINEAR MODELS AND MATRIX ALGEBRA
Introduction. Matrices, Vectors and Matrix Operations. Linear Independence. The Rank of A Matrix. Elementary Row (Column) Operations. Determinants and Basic Rules for Determinants. The Inverse of a Matrix. Cramer's Rule. Linear Equation Systems with Applications. Main Results on Linear System of Equations. Leontief Input-Output Models.
2. COMPARATIVE STATICS AND THE CONCEPT OF DERIVATIVE
Functions of One Real Variable. Limits. Continuity. Single-Variable Differentiation. The Maximum and Minimum Theorem. The Mean Value Theorem. Taylor's Formula. L'Hospital's Rule. Local Maxima and Minima. Convex and Concave Functions. Inflection Points. Point Elasticity. Marginal Revenue. Maximum Total Revenue. Functions of Two or More Variables. Partial Differentiation. Partial Elasticities and Homogeneous Functions. Extreme Values of a Function f Two Variables. Concave nad Convex Functions and Second-Derivative Test. Effects of a Constraint: Two Variables, One Constraint. The Lagrange Multiplier Method.
3. DYNAMIC ANALYSIS
Indefinite Integrals. The Definite Integrals. Extending the Concept of the Integral. First Order Linear Differential Equations.
4. ELEMENTS OF FINANCIAL MATHEMATICS.
Simple and Compound Interest. Time Value of Money. Present Values and Accumulation Factors. Loan Schedules.
|Jezici na kojima se održava nastava: - - -
|1. ||Alpha C. Chiang, "Fundamental Methods of Mathematical Economics", McGraw-Hill, 1999.
|2. ||1. K. Sydseater, P.J. Hammond, Mathematics for Economic Analysis, Prentice Hall, 1995.
2. L. D. Hoffman, G. L. Bradley, Calculus for Business, Economics and the Social and Life Sciences, McGraw- Hill, New York, 1989.
3. A. Ostaszewski, Mathematics for Economics: Models and Methods, Blackwell, 1993.
4. J. Soper, Mathematics for Economics and Business. An Interactive Introduction, Blackwell, Oxford, 2004.