Programme Outlines and Overviews

Students in this course are presented with mathematical tools for economic and statistical theory,<br> including matrix algebra and dynamic mathematical systems. It also focuses on mathematical concepts useful for economics courses at the master’s level or above.<br> The contents of this course include - Matrix algebra: addition, multiplication, and inversion of matrices, eigenvalues, eigenvectors - Constrained optimization with inequality constraints - The envelope theorem - Difference equations - Differential equations <br> <br> <br> **Connection to Research and Practice ** Mathematics provides a language through which scientists, including social scientists, can communicate their thoughts and results in a succinct way. Theoretical and empirical models in economics use mathematics, so research papers in economics at JIBS that focus on entrepreneurship, renewal, ownership, and other areas will almost always utilize some of the elements of mathematics presented in this course. Without the basic understanding of this course’s mathematical tools, master’s students in economics will have difficulty understanding many elements in other courses they will study within an economics master’s programme. The course demonstrates how mathematical tools can be applied to economic theory and how those tools can be used to support statistical analysis for application to real-world data.