The coördinator of the course can be reached via the general email: math.use@uu.nl.
Learning objectives
At the end of the course the student is able to:
• Understand, control and apply elementary notions of mathematics;
• Use mathematics to specify, analyse and quantify relationships among economic variables;
• Recognise the economic meaning from mathematical notions and models;
• Describe clear and structured solutions of mathematical problems;
• Solve constrained and unconstrained optimisation problems of multivariate functions;
• Use knowledge of limits, logarithmic and exponential functions, and integration.
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Mathematics is an essential course for economists. Economists specify, analyse and quantify relationships among economic variables. Think for example about the relationship between prices and quantities, or between national income and consumption. In doing so, economists use verbal, graphical, mathematical and statistical tools. Mathematics will focus on the third tool. Together with verbal ability, an economist should possess all these tools, which are essential in all of the follow-up courses. The knowledge gathered in this course will form the basis for many other courses, including Microeconomics (basic and intermediate), Macroeconomics (basic and intermediate), International Economics and Finance and Organisation.
In the first part of the course, the focus is on issues of optimisiation of two-variate functions, constrained optimization and implicit relations. To be able to solve these problems, you have to know how to solve systems of equations, how to differentiate (partial and higher order) and how to simplify complex functions and equations. In the second part of the course, the focus is on limits, logarithmic and exponential functions, and integration. Applications for mathematics will be found mainly in economics.
Academic skills
This course focuses on the following academic skills:
Analytical skills:
• Problem solving (identifying the problem, devising a path towards the solution, following this path, verifying the outcome) for specific questions.
Format
Two hours of lecture and two tutorials of two hours (group size 30 students) per week. The problems for both tutorials will have to be prepared in advance by the students. Each week at the first tutorial some specific problems will be worked through. In the second tutorials the remaining prepared exercises will be discussed. During the tutorials students will get feedback on their work and have the opportunity to hand in additional exercises/problems (see course manual). A third tutorial for a limited group of students, who have received a low grade at the entrance test. At the third tutorial, elementary algebraic issues are examined that related to the topics of that week.
The academic skill problem solving at level one will be dealt with explicitly from the first week one by practicing exercises in tutorials. This skill will also be part of several follow-up courses.
Assessment method
- Compulsory entrance test, multiple choice, about three weeks of the start of the course;
- Midterm exam, open questions (50%);
- Endterm exam, open questions (50%).
See the course manual for information on the supplementary and replacement retake exam.
All exams are closed-book examinations and the use of a graphical calculator is not allowed at the exam.
The assessments of the midterm and endterm exam and all problems worked on is partly focused on the results, but mostly on the academic skill problem solving. The justification of the method chosen, the systematically presentation of both the steps in the problem solving stage, the solution, and the interpretation of the results are all aspects that count heavily. This means that solutions using the problem solving skill extensively but with calculating errors can be assessed sufficient. But on the other hand only giving the result will be judged insufficient.
Effort requirements
• Participation in at least 10 out of 14 tutorials (tutorial 1 and 2)
• For the limited group of students who are assigned to the third tutorial, they should participate in at least 5 out of 7 tutorials.
Course repeaters
Students who signed up for the course in one of the previous years, and did not drop the course in time, or failed the course, may participate in the course repeaters programme. Repeaters are not entitled to attend the regular tutorials.
With respect to the teaching format, this implies that course repeaters:
• are allowed to attend the lectures;
• can subscribe for the special repeaters tutorials (group size 50); the precise conditions are described below;
• do not have to fulfill the effort requirements.
For all repeaters it is necessary that they have to register for the course to be able to do the exams.
Participation in the special repeaters tutorials is only possible if:
1. You have registered yourself in time in Osiris student for this course. Only then you are entitled to do the exams.
2. You have registered yourself in time for the special repeaters tutorials via a reply on the mail of the student desk.
3. You show commitment by doing your homework every week. We will check it at the start of every tutorial.
With respect to the assessment method, this implies that course repeaters:
• Have a mid-term exam (50%) and an end-term exam (50%);
• Can do a supplementary or replacement exam.
In case online access is required for this course and you are not in the position to buy the access code, you are advised to contact the course coordinator for an alternative solution. Please note that access codes are not re-usable meaning that codes from second hand books do not work, as well as access codes from books with a different ISBN number. Separate or spare codes are usually not available.
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