Brief Course Description
1. Course Title:
Applied Mathematics
2. Language of Instruction:
English
3. Course Code:
MAT508133
4. Credits:
3
5. Course Objectives:
The aim of this course is to equip students with essential mathematical tools needed to comprehend and apply various approaches in economic and management research.
6. Brief Description of Course Content:
The course is structured into three main parts:
The first part introduces fundamental concepts of linear algebra, which are essential across many areas of applied sciences, including economics, finance, and management. Topics include matrix algebra, determinants, systems of linear equations, and their applications in economics—such as the open Leontief Input–Output model.
The second part focuses on the basics of differential calculus for both single-variable and multivariable functions. Students will study derivatives, differentials, and optimization techniques. In addition to providing a rigorous and systematic mathematical foundation, the course emphasizes practical applications in economics, such as marginal analysis, elasticity, and various optimization problems—including revenue maximization, profit maximization, and cost minimization.
The final part of the course offers a brief introduction to the theory of ordinary differential equations and its applications. Students will learn several basic types of first-order ordinary differential equations and how to use them to model various real-world problems, including the Solow growth model, the purchasing power parity (PPP) model of exchange rates determination, and exponential growth models.