ECON 207
Mathematical Economics (GE)
1. Catalog Entry
ECON 207
Mathematical Economics (GE)
Credit hours (3)
Prerequisites: ECON 106 and one of the following: MATH 125, MATH 126, MATH 138, MATH
168, MATH 169, or MATH 171.
Development of selected mathematical and quantitative techniques, with emphasis on
the application of those techniques to economic theory and problems.
Note(s): General Education and Scientific and Quantitative Reasoning designated course.
2. Detailed Description of Course
This course will acquaint students with selected mathematical topics and to demonstrate
the applicability of those topics to economic theory and problems. This course will
introduce the development of economic theory by increasing emphasis on the use of
mathematical quantitative, and analytical methods. The knowledge of a selected set
of mathematical principles and application of those principles to economic theory
is necessary for serious study of modern economics.
Topic Outline
1) The Nature of Mathematical Economics
2) Static Equilibrium Analysis
3) Comparative Statistics
4) Dynamic Analysis
3. Detailed Description of Conduct of Course
The following teaching strategies may be employed:
Lectures, discussions
4. Goals and Objectives of the Course
After completing this course, students will be able to:
1) Solve a variety of optimization problems, such as those involving utility and profit maximization and cost minimization, using algebra and calculus. (SLO6)
2) Solve a variety of economic models involving systems of static and dynamic equations. (SLO5, SLO6)
3) Perform comparative statics analysis to compare model solutions under different conditions. (SLO5, SLO6)
4) Apply scientific and quantitative information to test problems and draw conclusions.
5) Students evaluate the quality of data, methods, or inferences used to generate scientific knowledge.
6) Analyze how changes in macroeconomic variable (e.g., consumption, business investment, government spending, or foreign trade) affect the national economy. (SLO5)
7) Analyze how changes in economic variables affect decisions of firms, households and equilibrium in markets. (SLO6)
5. Assessment Measures
1) Homework problems
2) Exams
3) Class participation
6. Other Course Information
None.
Review and Approval
September 2, 2014
December 2013 C. Vehorn
April 16, 2012
December 2004 N. Hashemzadeh
March 01, 2021