Mathematics 2 for Economics
Sommer semester 2017
Working with mathematical models requires two skills: On the one hand one needs to be familiar with techniques for handling terms and formulæ and with methods for solving particular problems like finding extrema of a given function. Learning and applying such procedures is already part of the course Mathematische Methoden. The second skill is the investigation of structural properties of a given model. One has to find conclusions that can be drawn from one's model and find convincing arguments for these.
In the first part of this course ( Mathematics 1: Linear Spaces and Metric Concepts) our emphasis has been on mathematical reasoning. which have been introduced in the framework of linear algebra.
In the second part we will use our skills and explore the second fundamental field of mathematics, analysis. There we often will try to replace nonlinear functions locally by linear ones and apply our results from linear algebra. Besides dealing with the mathematical foundations of the procedures that are already wellknown from the course Mathematische Methoden we also will learn new methods. In particular we will be able to analyse dynamic systems.
In summary, the course covers the following topics:
 Sequences and Series
 Topology
 Derivatives
 Taylor Series
 Inverse and Implicit Function Theorem
 Convex Functions
 Static Optimization
 Integration
 Multiple Integrals
 Differential Equations
 Systems of Differential Equations
 Dynamic Optimization: Control Theory
Exercises
See Lernaktivitäten on the corresponding page at learn@wu.
Teaching/learning method(s)
The course is divided into three parts that interlace during the course:

Lectures,
where the required material is presented by the supervisor.
It is expected that students will read corresponding chapters in advance for each lecture!

Homeworks,
where the students get familiar with the mathematical
techniques.
 Presentation of students' solution, where possible problems and common mistakes are discussed.
Assessment
See Syllabus on the corresponding page at learn@wu.
Learning Materials
 Lecture Notes Analysis and Dynamic Optimization (for oneside printing  for twoside printing)
 Introduction to Maxima for Economics
 Materials from course Mathematische Methoden (in German).
 Mathematics 1: Linear Spaces and Metric Concepts
Bibliography
 K. Houston: How to Think Like a Mathematician, Cambridge University Press, 2009.
 K. Sydsæter, P. Hammond, A. Seierstad, A. Strøm: Further Mathematics for Economic Analysis, Prentice Hall, 2005.
 K. Sydsæter, P. Hammond: Essential Mathematics for Economics Analysis, Prentice Hall, 3rd edition, 2008.
 A. C. Chiang, K. Wainwright: Fundamental Methods of Mathematical Economics, McGrawHill, New York, 2005
Last change: Tue Mar 7, 2017 by josef leydold