This subject provides the quantitative instruments that are needed to pose and analyze economic problems with the aid of a formal model.
In working toward the above goal the student will acquire the following competences and skills.
Regarding the contents of the course, the student will be able of:
- Understand the tools of mathematical analysis used in the resolution of otimization problems
- Analyze economic models set as optimization problems without constraints, with equality constraints, or with inequality constraints
- Know how to interpret the Lagrange and the Khun-Tucker multipliers, to make comparative statics in economics problems and to use the Envelope Theorem to make qualitative study of optimization problems, with a view to economic applications.
Pertaining the general competences or skills, in the class the student will develop:
- The ability to address economic problems by means of abstract models.
- The ability to solve the above formal models.
- The ability to interpret and classify the different solutions and apply the appropriate conclusions to social contexts.
- The ability to use the basic tools that are need in the modern analysis of economic problems.
Through out the course, the student should maintain:
- An inquisitive attitude when developing logical reasoning, being able to tell apart a proof from an example.
- An entrepreneurial and imaginative attitude towards the cases studied.
- A critical attitude towards the formal results and their applicability in social contexts.