Mathematics for Economists

The development of logical reasoning and algorithmic ways of problem solving. Becoming familiar with the basics of linear algebra, differential and integral calculus, financial mathematics and their applications in economics.

After completing this course, students will be able to independently and effectively follow the mathematical content of all vocational economics subjects, both of the first and the second cycle studies. Accuracy of the mathematical expression will helpful to them to clearly and precisely formulate phenomena and laws of the society, especially in macroeconomic and microeconomic models. Moreover, they will be able to solve specific problems in the field of mathematics covered by this subject.

Linear algebra: systems of equations, matrices, determinants. Functions of one variable, derivatives and their application in the examination of economic functions. Functions of several variables, optimization problems. The indefinite and definite integrals and their applications in economics. Differential and difference equations and their applications.

Lectures, exercises, consultations, demonstrations, preparing seminar papers.

Written and oral. Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points)

Skakić, N., Kravarušić, R. (2006). Mathematics. Banja Luka: Faculty of Economics; Lučić, B. (2006). Mathematics. East Sarajevo: Institute for Textbook Publishing and Teaching Aids; Chiang, A. C. (1994). Basic methods of mathematical economics. Zagreb: Mate d.o.o; Dowling, E. T. (1993). Mathematical Methods for Business and Economics. McGraw-Hill.