Course content

Themes covered by the course includes

Linear algebra: Linear systems of equations. Matrices. Determinants. Eigenvalues. Diagonalization.

Integration techniques: Integration by substitution, by parts, and by partial fraction decomposition.

Differential equations: Separable differential equations with emphasis on growth models. Linear differential equations by first and second order. Linear systems of differential equations. Taylor polynoms.

The relevance of these themes for economic models is of interest.

Learning outcome

Knowledge

Students will:

• Understand the importance of solution concepts.
• Master methods within linear algebra and should be able to apply this to analyze and solve linear equation systems
• Master matrix calculus, including the use of eigenvalues and eigenvectors, and apply this to solve mathematical problems arising also within applications or models in business economics.
• Be able to apply various integration methods analytically.
• Master solution methods for certain types of differential equations, analyzing properties of their solutions, arising also within applications or models in business economics
• Be able to solve linear differential equation systems with constant coefficients

Skills

Students will:

• Be comfortable navigating and analyzing certain mathematical models, and finding relevant solution(s) or characteristics
• Be able to master a range of mathematical operations necessary to solve associated tasks
• Be able to solve tasks where different parameters are included and be able to interpret and evaluate the solutions based on different values of the parameters

General competence

Students will:

• Be able to formulate or interpret a problem from business economics as a mathematical model or problem
• Have a trained ability for logical and critical thinking

Learning methods and activities

The course is organised around weekly class meetings. Students are also expected to work through weekly problem sets as well as two mandatory assignments.

Class time will be divided between a brief introduction to topics in combination with ample time to work in groups and get immediate discussions and feedback from the lecturer.

Compulsory assignments

• Mandatory Assignment

Specific conditions

Recommended previous knowledge

Introduction to Mathematics on a level similar to MET1001

Course materials

The final syllabus is given at the start of the semester. Optional textbooks are "Kalkulus og lineær algebra" (Hole, Universitetsforlaget 2023) as well as "Further Mathematics for Economic Analysis" by Sydsæter et.al. (Pearson 2008).

Credit reductions