Mathematics for Economics

Konkuk University

Course Description

  • Course Name

    Mathematics for Economics

  • Host University

    Konkuk University

  • Location

    Seoul, South Korea

  • Area of Study


  • Language Level

    Taught In English

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credits

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
  • Overview

    Even if economics is a social science, the extent of its reliance on mathematical methods is hard to underestimate. In fact, it is hardly possible to find a paper in a serious economics journal that would be completely void of an application of mathematical methodology. This course provides the students with a necessary basis for understanding modern developments in the economics science. Yet, there is much more to this course than that. Mostly thought of as an uninspiring collection of definitions, theorems and their corollaries having to do hardly anything with life here and now, mathematics is nevertheless first and foremost a collection of tools that are meant to be dealing with the real life problems. Economics is a social science about the living people whose decisions are often hard or even impossible to predict, but it doesn?t mean that the many facts and regularities one is observing about economic behavior cannot be quantified, analyzed and dealt with mathematically in order to derive meaningful predictions or implications for real life. This course is thus not only providing one with a set of useful tools helpful for making sense of modern economic research, it is also demonstrating how seemingly abstract and far-off concepts and formulas may be reflecting the well-known economic phenomena that are in turn characterizing the living people like you and me.

    Attendance is mandatory once you have registered for the course. In case you are going to be absent, it is your responsibility to inform me in advance and provide me with a document confirming the reason for your absence. The students are supposed to arrive on time for the classes. Therefore, once calling out the roll is over, no amendments to the list can be made.

    Chapter 5 Some further equations and techniques
    Chapter 6 Derivatives and Optimization
    Chapter 7. Derivatives in action.
    Chapter 8. Economic applications of functions and derivatives.
    Chapter 9. Elasticity
    Chapter 10. Compound growth and present discounted values.
    Chapter 11. Exponential function and logarithms.
    Midterm Exam.
    Chapter 12. Continuous growth and the natural exponential function.
    Chapter 13. Derivatives of exponential and logarithmic functions and their applications.
    Chapter 14. Functions of two or more independent variables.
    Chapter 15. Maximum and minimum values, total differential, and applications.
    Chapter 16. Constrained maximum and minimum values.
    Chapter 17. Returns to scale and homogeneous functions. Partial elasticities. Growth accounting. Logarithmic scales.
    Chapter 18. Integration.
    Final Exam.

Course Disclaimer

Courses and course hours of instruction are subject to change.