After the successful completion of the course, students will be able to know the required basic tools of Dynamic Analysis (Equations of Difference / Differential Equations) in order to understand and build Dynamic Models in Economics. More specifically, they will be able to solve Mathematics exercises using the above tools, as well as to model and solve Economic Problems using the above mathematical tools successfully.
Course Content (Syllabus)
Introduction to Mathematics for Economics Dynamics
Linear, first and second-order difference equations.
Nonlinear, first-order difference equations. Phase Diagram and qualitative analysis.
Steady-state equilibrium.The steady-state and convergence.
Cycles and Chaos.
Linear, first and second-order differential equations.
Nonlinear, first-order differential equations. Qualitative analysis.
Simultaneous systems of differential and difference equations.
Economic models, differential equations, difference equations, qualitative analysis, steady-state equilibrium