MMENKMAT Mathematics in Economics

School of Business Administration in Karvina
Summer 2015
Extent and Intensity
0/0. 5 credit(s). Type of Completion: zk (examination).
Guaranteed by
prof. RNDr. Jaroslav Ramík, CSc.
Department of Informatics and Mathematics – School of Business Administration in Karvina
Prerequisites (in Czech)
K absolvování předmětu nejsou vyžadovány žádné podmínky a předmět může být zapsán nezávisle na jiných předmětech.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The course Mathematics in economics in master's study programme follows the course Quantitative methods in bachelor's study programme. It makes the participants acquainted with further knowledge and methods of differential and integral calculus, and the introduction to differential equations including their application in economics. The aim of the course is to cultivate approach to problem solution particularly in a variety of economic branches and to enable insight into their essence.
Syllabus
  • 1. Function of one variable
    2. Introduction to differential calculus of one real variable
    3. Course of a function of one real variable
    4. Function of two variables
    5. Local and bounded extremes of a function of two variables
    6. Indefinite integral of one real variable
    7. Special substitutions in the indefinite integral
    8. Definite integral of one real variable
    9. Applications of the definite integral
    10. Infinite number series
    11. Infinite function series
    12. Introduction into ordinary differential equations
    13. Linear differential equations


    1. Functions of one real variable
    Algebraic functions, transcendent functions, polynomials, decomposition of a polynomial into product of its roots. Economic applications: supply, demand, equilibrium under perfect competition..
    2. The introduction to differential calculus of one real variable
    Difference, derivative, differential. Taylor theorem, Taylor and Maclaurin polynomials. Economic applications: rate of a change of a function, function elasticity, substitution of a function by a polynomial of the n-th degree, marginal costs, marginal revenues, minimization of average costs, maximization of total revenue, maximization of profit.
    3. The course of a function of one real variable
    Economic applications: function of total, average and marginal costs and revenues, minimization of costs, maximization of revenue and profit, relationship between average costs and marginal costs under perfect competition..
    4. The function of two real variables
    Domain of a function of two real variables, partial derivatives, total differential of the first and second order, tangent plane.
    5. Local and bounded extremes of a function of two variables
    Weierstrass extrem value theorem, the method of Lagrange multipliers, Economic applications: Cobb-Douglas production function, maximization of revenue and profit, minimization of costs under perfect competition.
    6. Indefinite integral of one real variable
    Method per partes, substitution, integration of partial fractions. Economic applications: total costs and total revenues.
    7. Special substitutions in the indefinite integral
    Integration of rational, exponential, logarithmic and goniometric functions.
    8. Definite integral of one real variable
    Riemann integral, Newton-Leibniz formula, improper integral.
    9. . Applications of the definite integral
    Calculation of area of regions and volume of solids. Economic applications: consumer and producer surplus under perfect competition.
    10. Infinite number series
    Infinite number series and their convergence. Limiting criteria and integral criterion of convergence of positive infinite series. Alternating series.
    11. Infinite function series
    Geometric and power function series, Taylor series. Convergence of series.
    12. Introduction into ordinary differential equations
    General and particular integral, separation of variables.
    13. Linear differential equations
    Linear differential equations of the first order, homogenous differential equations.
Language of instruction
Czech
Further Comments
The course can also be completed outside the examination period.
The course is also listed under the following terms Summer 2013, Summer 2014.
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