MSc Economics

Bridging Course Mathematics

Winter Semester 2024/25

Mathematics is the language for the description of relations in economics. Students will learn the most important elements of this language in our course Foundations of Economics. However, basic knowledge of mathematical methods are prerequisites for mastering this course. It is assumed that students already have gained these basic skills during their time in high school and in the introductory course in their Bachelor programmes.

For various reasons (e.g., different syllabi in high schools or different interpretation of these syllabi by teachers) the knowledge vary considerably among students of the master programme Economics. It also may have happened that one's personal expectation during high school of the importance of the culture technology called Mathematics has not been compatible with the latter studies of economics.

Mastering the basis mathematical methods is mandatory for the master programme Economics and thus it is relevant in a couple of courses. This bridging course in Mathematics offers the opportunity to get feedback about your knowledge and your level of expertise and helps you to close possible subject related knowledge gaps.

The following problems cause issues for quite a few students:

• drawing (or sketching) of graphs of functions,
• transform equations into equivalent ones,
• handling inequalities,
• correct handling of fractions,
• calculations with exponents and logarithms,
• using of mathematical notation.

Presented "solutions" of such problems are surprisingly often wrong.

Learning Outcomes

In this course we will practice the following skills:

• computations with mathematical terms
• polynomials, fractions, exponents and logarithms
• equations and inequalities
• functions and their graphs
• derivatives and their applications
• antiderivative and integral
• basic matrix algebra

Organization and Course Design

In each of the units the basics concepts and methods are shortly recapitulated, problems are solved collectively. Furthermore students are asked to do some homework problems. These problems are provided by the course instructor. However, students are explicitly invited to suggest their own problems they are interested in. It is expected that students actively participate in the course.

Grades

There will be no explicit exams. However, it is expected that students actively participate in the course.

For a positive grade ("successfully completed" / "erfolgreich teilgenommen") students must be present in at least 7 units.

Remote Access

The course will be hold in presencde mode. However, I will "broadcast" it via Zoom (shared screen and audio only). Links for downloading material for this course can be found below. Please keep in mind that I hardly can look at any chat messages.

Maxima - A Computer Algebra System

Computer Algebra Systems (CAS) allow the manipulation of mathematical expressions. Maxima is a freely available CAS. If there is some interest a very short introduction can be given.

Course Materials

• Handouts for the course (Slides)
• Manuscript with detailed explanations (extends slides)
• Solutions to homework exercises (also included in the manuscript)
• Introduction to Maxima for Economics

Preview on Courses on Mathematics in MSc Economics

• Foundations of Mathematics (MSc Economics)
• Mathematics 1: Linear Spaces and Metric Concepts (scientific track only)
• Mathematics 2: Analysis and Dynamic Optimization (scientific track only)

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Last change: 2024-09-10 by josef leydold