UNIVERSITY OF EDUCATION, WINNEBA

FACULTY OF SOCIAL SCIENCE EDUCATION

DEPARTMENT OF ECONOMICS EDUCATION
Course Outline
Programme: B. A. (Economics Education) Level: 400
Course Instructor: Alhassan Atta-Quayson Semester: II
Course Code: ECNS 489 Credit Hours: 3
Course Title: Mathematical Economics

COURSE DESCRIPTION
The pre-requisite for this course are Mathematics for Economists and Intermediate Microeconomics and Intermediate
Macroeconomics. This course seeks to equip students with intermediate mathematical methods that are indispensable
for a proper understanding of the current economic literature. The course will cover statics (equilibrium analyses),
comparative statics, optimization problems (as special type of statics) as well as an introduction to dynamics and
dynamic optimization. Consequently, the following mathematical methods will be introduced and applied to
economics: matrix algebra, differential and integral calculus, differential equations, difference equations and
hopefully optimal control theory.

OBJECTIVES
The objectives of this course include;
● To deepen students’ understanding of economic theory and literature
● To introduce intermediate mathematical methods and applications to economics
● To enhance students’ ability to demonstrate thorough knowledge of economic literature

COURSE TOPICS
1. Introduction
- Nature of Mathematical Economics
- Economic Models
2. Static (Equilibrium) Analysis
- Equilibrium Analysis in Economics
- Linear Models and Matrix Algebra
3. Comparative Static Analysis
- Comparative Statics and the Concept of Derivative
- Rules of Differentiation and their use in Comparative Statics
- Comparative Static Analysis of General-Function Models
4. Optimization Problems
- Optimization: A special Variety of Equilibrium Analysis
- Exponential and Logarithmic Functions
- The Case of More than Once Choice Variable
- Optimization with Equality Constraints
5. Dynamic Analysis
- Economic Dynamics and Integral Calculus
- Continuous Time: First Order Differential Equations
- Higher Order Differential Equations
- Discrete Time: First Order Difference Equations
- Higher Order Difference Equations
- Simultaneous Differential Equations and Difference Equations***
- Optimal Control Theory***

*** Topics with asterisks will be discussed if there is time

METHOD OF INSTRUCTION
1
 ● Lecture
● Class Discussions

MODE OF ASSESSMENT
● Class Assessment (Assignment and Quiz) = 40%
● End of Semester Exams = 60%

COURSE REQUIREMENTS
● Students are to attend each and every class meeting regularly and promptly.
● Students are also required to take active part in all class discussions.

READING LIST
Chiang, A. C. and Wainwright, K. (2005) Mathematical Economics (4th Ed) New York: McGraw-Hill Irwin
Sydsæter, K., Hammond, P., Strom, A. and Carvajal, A (2016) Essential Mathematics for Economic Analysis (5th Ed)
New York: Pearson
Sydsæter, K., Hammond, P., Strom, A. and Carvajal, A (2005) Further Mathematics for Economic Analysis New
York: Prentice Hall