MINISTRY OF EDUCATION AND TRAINING SOCIALIST REPUBLIC OF VIETNAM

NATIONAL ECONOMICS UNIVERSITY Independence – Freedom – Happiness

DETAILED SYLLABUS
(Issued attached Decision of NEU’s President, , , 2023)

1. GENERAL INFORMATION
Title: MATHEMATICS FOR ECONOMICS
Course Code: MAT1131
Class: Advanced Finance, CFAB, Intake 64
Program: Advanced Educational Program
Type of course: Compulsory course, General Education courses
Number of credits: 3 credits
- Theoretical hours: 30
- Practical hours: 15
- Self-study hours: 90
Prerequisite: Any GE Foundation course.
2. LECTURER’S INFORMATION
Full name: TONG THANH TRUNG Tittle: Doctor
Address: Building A1, Room 1106 Phone number: 0904147146
Email: tongthanhtrung@gmail.com; trungtt@neu.edu.vn Faculty: MFE
3. COURSE DESCRIPTIONS

Mathematical economics is the application of mathematical methods to represent

theories and analyze problems in economics. By convention, the applied methods refer to
those beyond simple geometry, such as differential and integral calculus, difference and
differential equations, matrix algebra, mathematical programming, and other computational
methods. An advantage claimed for the approach is its allowing formulation of theoretical
relationships with rigor, generality, and simplicity.

Mathematics allows economists to formulate meaningful, verifiable propositions

about broad and complex subjects which could less easily be expressed informally. Moreover,
the language of mathematics allows economists to make specific, positive statements about

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controversial subjects that would be impossible without mathematics. Much of economic
theory is currently presented in terms of mathematical economic models, a set of stylized and
simplified mathematical relationships asserted to clarify assumptions and implications.

This module is located in the general knowledge of curriculum BA in economics and

business administration. This course will introduce mathematical concepts and their
applications in economics and business. We concentrate on two parts: Linear algebra and
Calculus, which are widely used in almost all branches of sciences, including business and
economics. In the first part, students will get familiar with some basic concepts about
matrices, determinant, system of linear equations and learn how to use matrices to solve
economic problems. The second part focuses on derivatives and integration. The course is
application-oriented; students will learn the use of mathematics through its applications.

The first part of this module provides the basic content of Linear Algebra in economic
applications. The module aims to train thinking ability, improve math skills and application
of knowledge in math analysis, object research and economics. The approach is informal and
aims to show students how to do and apply the mathematics they require for a successful
study of economics. Economic applications are considered although this course aims to teach
the mathematics not the economics. Topics covered include matrix algebra, determinant,
system of linear equations, linear models, and its applications in economics.

The second part in this course provides the basic content of calculus to apply to
economics. This unit is also equipped with the basic knowledge for students to learning
modules Microeconomics, Macroeconomics, Mathematical models in economics,
Probability theory and statistics, Econometrics. Students will get familiar with some basic
concepts about Calculus of one variable functions, calculus of multivariate functions,
exponential, logarithmic function, integration, Optimization problem of function of several
variables and learn how to use them to solve economic problems.

TOPICS TO BE COVERED

1. Matrix operations
2. Determinant and Inverse Matrix
3. System of linear equations and linear models – Its Applications in economics and
business
4. Differentiation
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 5. Applications of differentiation in economics and business
6. Exponential and logarithmic functions
7. Integration
8. Applications of integration
9. Functions of several variables
10. Optimization problems
4. LEARNING RESOURCES : COURSE BOOKS, REFERENCE BOOKS, AND
SOFTWARES
* TEXTBOOK

[1] Main book 1: Calculus and its applications, Expanded Version, MARVIN L.
BITTINGER AND DAVID J. ELLENBOGEN, (2016).

[2] Main book 2: Mathematical Methods for Economics, Second Edition, Michael W. Klein,
(2002)

[3] Additional: Calculus For Business, Economics, and the Social and Life Sciences,
Eleventh Edition, Laurence Hoffmann, Gerald Bradley, Dave Sobecki, Michael Price, (2013).

[4] Additional: Calculus For Business, Economics, Life Sciences, and Social Sciences,
Fourteenth Edition, RAYMOND A. BARNETT, MICHAEL R. ZIEGLER, KARL E.
BYLEEN, CHRISTOPHER J. STOCKER (2019) .

[5] Additional: Mathematics for economics, Second edition, MICHAEL HOY, JOHN
LIVERNOIS, CHRIS MCKENNA, RAY REES, THANASIS STENGOS, (2001).
[6] Additional: Mathematics for Economists, CARLP. SIMON, LAWRENCE BLUME,
(1994).
* OTHER REQUIRED MATERIALS & INFORMATION
a. NEU’s Ebooks and documents at http://lic.neu.edu.vn:2048/menu: Emerald Insight, IG
Publishing eBook and Proquest Central
b. NEU’s Ebooks and documents at http://aep.neu.edu.vn:2048/menu
c. Web address: http://libgen.pw
5. COURSE GOALS
Linear Algebra (and Algebra in general) allows us to classify and understand many
objects, situations, spaces, to some basic context. Therefore, if you want structure, you need
algebra. Linear algebra specifically so you can understand the basic structure. Linear Algebra
allows us to start understanding basic linear systems with use of matrices and vectors.

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 Linear algebra is vital in multiple areas of science in general. Because linear equations
are so easy to solve, practically every area of modern science contains models where
equations are approximated by linear equations (using Taylor expansion arguments) and
solving for the system helps the theory develop. Beginning to make a list wouldn't even be
relevant; you and I have no idea how people abuse of the power of linear algebra to
approximate solutions to equations. Since in most cases, solving equations is a synonym of
solving a practical problem, this can be very useful. Just for this reason, linear algebra has a
reason to exist, and it is enough reason for any scientifics also need to know linear algebra.
MATH1131 is divided into two broad areas: Algebra and Calculus.
In Linear Algebra you will study the interplay between algebra and geometry. After a
discussion of matrices, determinant is used to motivate the study of systems of linear
equations. Algebraic techniques involving matrices and determinants are then developed to
study these problems further.
For Calculus, you will study continuous and differentiable functions. The emphasis here
is on a logical development of the theory of differentiation and integration. The highlight of
the course is one of the great discoveries of Science: the Fundamental Theorem of Calculus
which links calculation of areas (integration) and rates of change (differentiation).
In the first part of this course we discuss some basic knowledge about linear algebra, that
are Matrix, Determinant, Inverse Matrix, System of linear equations and its applications.
In the second part, student will know the principal results of single and several variable
calculus, including calculation of derivatives, partial derivatives of both explicit and implicit
functions and solving optimization problems including optimization problems by
substitution. A student should be able to apply calculus to different comparative static
problems to find maximum and/or minimum of functions of single or several variables.
By the end of the last chapter students should have a complete understanding of
optimization and should be able to apply the Lagrange multipliers approach to constrained
optimization problems in economics.

Program
Course Learning Level of
Goal Description
Goals Outcomes competence
(PLO)
[1] [2] [3] [4]
G1 Students gain confidence with mathematics 1.1; 1.2; I, II,III
G2 Development of analytical and synthesis skills. 1.2; 2; 3 IV, V
Develop organizational skills, both teamwork skills
G3 2.2 IV
and independent work skills
Establish soft skills such as team working, time
2.2; 3; 4;
G4 management, effective communication, and critical VI
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thinking.

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 Locate maxima and minima for functions of single
1.1; 1.2;
G5 and several variables and be able to distinguish III
1.3
between them.
Students will successfully use mathematical tools
1.1; 1.2;
G6 applied to the fields of economics and business III, VI
4; 6
administration.

6. COURSE LEARNING OUTCOMES (CLO)

Course Level of
CLO Descriptions
goals competence
[1] [2] [3] [4]
Remember important mathematical concepts,
CLO 1.1 I
principles, and theories.
Understand the differences between
CLO 1.2 II
mathematical concepts, principles, and theories.
Analyze practical circumstances by using
G1
CLO 1.3 different mathematical concepts, principles, and VI
theories.
Ability to correctly solve a wide variety of
CLO 1.4 problems using both basic mathematics skills V
and advanced mathematical techniques and to
apply these techniques to other disciplines.
Ability to reason and think in abstract terms,
CLO 2.1 construct correct and coherent proofs, and VI
G2 recognize valid mathematical arguments.
CLO 2.2 Ability to communicate mathematics clearly VI
both in written and verbal forms.
CLO 3.1 Ability to draw connections among V
G3 mathematical branches and related disciplines.
CLO 3.2 Ability to represent and utilize mathematical III
concepts in various ways.
Facility with technology to deepen mathematical
G4 CLO 4.1 understanding and to enhance problem solving VI
skills.
Know how to read, understand, and construct
mathematical proofs, and appreciate their role in
CLO 5.1 III
G5 the derivation of mathematical concepts and
structures.
CLO 5.2 the facility to solve a range of specific problems. VI

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 Understand the mathematical methods that are
CLO 6.1 most widely used in economics, both from a VI
formal, abstract perspective, and an intuitive
perspective.
acquisition of the essential mathematical skills
CLO 6.2 III
used in economic analysis.
an ability to make use of
the mathematical approach in formulating and
CLO 6.3 V
G6 analysing problems in economics, and
recognition of its limitations.
Apply mathematical methods and techniques
CLO 6.4 that are formulated in abstract settings to VI
concrete economic applications.

7. COURSE ASSESSMENT

Assessment Assessment Percentage

Description Time CLO
methods indicators (%)

[1] [2] [3] [4] [5] [6]

Class participation
points will be based on
general class
attendance, Attendance
contribution in class CLO
points
and compliance with 3.1
&
Class the class rules CLO
Week 12 Times of 10%
Participation delineated below. Poor 3.2
class attendance, little answers and
CLO
contribution in class or questions in
4.1
non-compliance with class.
class rules will result
in a poor class
participation grade.
Each student must take CLO Questions
two midterm exams in 1.1 about
Individual class. Each one Week 4, mathematics
CLO 40%
Assignments accounts for 20% of 12 and the
1.2
the total grade. All application
assignments are due by CLO of economic
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 the date and time 1.3 problems.
specified in the CLO
assignment. 1.4
CLO
3.2
CLO
4.1
CLO
5.2
CLO
6.1
CLO
1.1
CLO
1.2
CLO
1.3
CLO
Final exam of 90 1.4
minutes. Students have CLO
permission to take the 2.2 Questions
final exam when they about
CLO
attend more than 80% mathematics
University 3.2
Final Exam of the total classes and and the 50%
schedule CLO
hand in both individual application
4.1
and group assignments of economic
on time. Make-up CLO problems.
exams will not be 5.2
offered. CLO
6.1
CLO
6.2
CLO
6.3
CLO
6.4

8. LESSON PLAN
(Any changes on the schedule WILL BE announced in class and on TURNITIN in
advance)

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 Learning and teaching Assessment
Class Topics CLO
activities methods
[1] [2] [3] [4] [5]
PART 1: LINEAR ALGEBRA AND ITS APPLICATIONS
Introduction to the
Course and
TURNITIN
- Read carefully the
Introduction to syllabus provided;
mathematics for
- Homework 1: Lecture
economics and its CLO Questions &
Week 1 will send homework by
history. Overview of 1.1 discussion
email.
course content.
- Reading: Chapter 4 [2];
Chapter 1. Linear
Algebra

Section 1.1 Matrices

Section 1.2. CLO - Reading: Chapter 4 [2]
Determinants and the 1.1 Chapter 9 [4];
inverse matrix CLO
Questions
1.2
Week 2 and
CLO
Exercises
1.3
CLO
1.4
Section 1.3. Systems CLO - Reading: Chapter 9 [4];
of linear equations 1.1
CLO
1.2 Questions
Week 3 and
CLO Exercises
1.3
CLO
1.4
Section 1.4. Linear CLO - Reading: Chapter 5 [2];
models applications 1.1 - Mid-Term Test 1
in economics and
Week 4 CLO Case study
business. - Answer Homework 1
1.2 discussion
CLO

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 1.3
CLO
1.4
PART 2: CALCULUS AND ITS APPLICATIONS
Chapter 2. CLO
Functions of one 1.1 - Reading: Chapters R,
variable 1[1];
CLO
Section 2.1. 1.2 - Homework 2
Differentiation
CLO
1.3 Questions
Week
and
5-6 CLO Exercises
1.4
CLO
3.1
CLO
3.2
Section 2.2. - Reading: Chapters R, 1[1];
CLO
Applications of Chapters 5, 6 [4]
2.1
differentiation in Chapter 6, 9 [2]
CLO
Economics and 2.2 Questions
Week Chapter 3 [1].
and
7-8 Business. CLO - Answer homework 2 Exercises
3.1
Section 2.3. CLO
Exponential and
3.2
logarithmic functions
Chapter 3. Reading: Chapters 4, 5 [1]
CLO
Integration and Its Chapter 16 [4],
2.1
applications
CLO Chapter 12 [2]
Section 3.1. Anti- Questions
Week 2.2
differentiation and and
9-10 CLO
Exercises
indefinite integrals 3.1
CLO
Section 3.2. Area and
3.2
definite integrals

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 Section 3.3. Reading: Chapters 4, 5[1]
CLO Chapter 16 [4]
Applications of
2.1 Chapter 12 [2]
integrations CLO - Homework 3
2.2 Questions
Week
Section 3.4. Midterm and
11 CLO
exams and Answered Exercises
3.1
exercise
CLO
3.2

Chapter 4. CLO - Reading: Chapter

Functions of several 1.1 6[1],
variables CLO Chapters 11, 12, 13
Section 4.1. Functions 1.2 [4] Questions
Week
of several variables and
12 CLO
and partial derivatives 1.3 Exercises

CLO
1.4
Section 4.2. CLO - Reading: Chapter 6 [1],
Maximum-Minimum 5.1 Chapters 11, 12, 13 [4].
problems CLO
5.2 Questions
Week
and
13 CLO
Exercises
6.1
CLO
6.2
Section 4.3. CLO - Reading: Chapter 6
Constrained 2.2 [1], Chapters 11, 12,
Maximum and CLO 13 [4]
minimum values: - Students write
3.2
Lagrange Multipliers knowledge map of Questions
Week CLO this course and
14 4.1
Exercises
CLO
6.2
CLO
6.3

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 CLO
1.4

Review CLO - Mid-Term Test 2

2.2 - Review
CLO Students
3.1 summary
CLO all the
Week 3.2 concepts of
15 CLO this course
6.1 by
CLO knowledge
6.2 map
CLO
6.3
CLO
6.4

9. COURSE REQUIREMENT & GRADING POLICY

Grading Policy: Grades will be determined by the percentages listed below.
Item Weight

Class Participation 10%

Midterm Test 1 or Assigments 20%

Midterm Test 2 20%

Final Exam 50%

Total 100%

Class Participation – Class participation point will be based on general class attendance,
contribution in class and compliance with the class rules delineated below. Poor class
attendance, little contribution in class or non-compliance with class rules will result in a
poor class participation grade. Below are class rules:
1. Arrive on time and be seated and ready to begin when the class begins. If you do
arrive late, you are requested to enter the class through the rear doors only. Note that this

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class is intended for registered students only. Guests may attend with prior approval of the
professor.
2. Come prepared – read the readings assigned. Be sure to check turnitin regularly to assess
the materials.
3. Do not leave class unless absolutely necessary. If you do need to leave, please sit close
to the door and make your exit as inconspicuous as possible.
4. Turn off cell phones and computers - NO TEXTING AND NO COMPUTERS WILL
BE ALLOWED DURING CLASS (you may be asked to leave class for that day if you
are found to be texting in class). No electronic devices (laptops, cell phones etc.) may be
on or used during class unless medically necessary and approved.
5. Video or audio taping of the class is strictly prohibited. Also, note takers who are not
registered in the class are not allowed in the class.
6. Do not engage in individual discussions (persistent individual conversations will
result in the participants being asked to leave class for that day).
7. Participate by contributing comments and questions during the discussions. The
instructor will call on students during the class if participants do not volunteer.
8. Please use common courtesy and polite manners in class, during discussions and in any
emails or communication related to the class in a business-like tone.
9. Keep items you bring to a class minimal. For instance, noisy newspapers and food with
odors are not acceptable. Small snacks are allowed and any additional materials should be
kept in your backpack.
10. I have no tolerance for acts of academic dishonesty (such matters may be treated as
listed below).
To be fair to all students, grade changes or additional extra credit opportunities will not be
considered. The only discussions on grades will be verification of the grade. The professor
will not tolerate requests to increase grades or any excuses regarding grades. The system of
an option final exam provides for any “second chances” for any issues arising during the
semester.
Individual Assignment:
1. Solving the homework
2. Read these articles or document to more understand relevant knowledge.
3. Students summary all the concepts of this course by knowledge map.
For your submission:
1. Individual Assignment Cover Sheet
2. Full Turnitin report
Final Exam – The final exam date is listed on the syllabus (but may be changed with advance
notice on dropbox if needed). The final exam will be worth 50%. The exam will include
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critical thingking question and will include reading materials. Material presented and
discussed in class and any material presented by guest lecturers.
Philosophy of the course
1. The prescribed textbook defines the level of sophistication of material to be
transmitted to students and the problems contained therein indicate the level of
difficulty of questions that may be asked in examinations.
2. There is no presumption that examination questions will/can be chosen only from the
prescribed textbook. However, the examiner should ensure that the level of difficulty
is at par with the difficulty of problems in the textbook; the evaluation of “difficulty”
is best left to the prudence and academic judgement of the examiner within the
institutional context of examination-setting.
3. Instructors should feel free to draw upon any appropriate supplementary sources for
problems and material that they feel is handled inadequately or poorly in the prescribed
textbook.
4. Proofs of propositions that are relatively straightforward may be asked in the
examinations. However, questions should not be such as to allow mere regurgitation
of theorems proved in the textbook and memorized by the students. Ideal questions
should test the student’s ability to understand and correctly apply theorems proved in
the textbooks rather than merely reproduce their proofs.
5. Examiners should avoid questions whose solution involve mere memorization of
formulae and computation.
6. Questions may require students to apply techniques learned in this course to
applications drawn from economic theory. However, such questions should be framed
with great care. Such questions should explicitly state the mathematical structure
required to derive the answer, not leave it implicit, assuming that students will be
aware of the economic model in question and the assumptions underlying it. The
examiner may assume that students are mathematically sophisticated at a level
indicated by this course, but there should be no presumption of economic
sophistication or knowledge of economic doctrine beyond what is taught in the
Principles course.
7. Economic applications available in the textbooks and covered in class should not be
assumed to be an exhaustive list of potential applications that may be used for framing
examination questions.
8. There should be no presumption that a particular pattern or style of the examination
will be replicated from year to year. The examiner shall have latitude to make
academically prudent changes subject to the above-mentioned weightage guidelines.
Communication:
Studies show that students who engage in one-on-one discussions with the instructor
about the course receive better grades. I, therefore, encourage your discussion with me.
You can communicate during office hours, email or in class discussions. You also are
welcome to make separate appointments. I will be available before and after class, but only

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for short questions. I also encourage feedback on the classes, lectures, teaching and reading
material. We enhance the class every semester and your thoughts are valuable in the process.
10. DATED: 30/03/2023

Lecturer School of Advanced NEU’s President

Education Programs

Tong Thanh Trung

Pham Hong Chuong

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