ECON 605: Introduction to Mathematical Economics

  • Taught by Amin Mohseni, Assistant Professor of Economics and researcher at the World Bank.

  • Learn the mathematical skills that will be used in economics courses that follow.

  • Solve constrained and unconstrained optimization problems.

  • Use matrix algebra to quickly solve systems of equations.

  • Use calculus and differential equations to setup and solve intertemporal dynamic problems.

This online economics course is the foundation and preparation for all graduate studies in the MA in Economics. The material learned in this course will be used extensively in the courses that follow it. The course is taught by Amin Mohseni-Cheraghlou, Assistant Professor at American University, who’s been featured in international journals, and is co-author of a 2010 book titled The Militarization of the Persian Gulf: An Economic Analysis.

It begins with a review of some basic concepts from college-level algebra and pre-calculus courses before moving on to more advanced material that will be necessary for other master's in economics courses.

Concepts covered in this course will include:

  • Differentiation and integration
  • Matrix algebra
  • Optimization along with differential and difference equations

Each unit within this online course begins with an introductory story problem, providing context to the concepts covered. These problems are meant to demonstrate application of the material as well as provide you with an interesting and memorable way to utilize the course content.

Mathematical Economics Course objectives:

  • Improve the mathematical skills necessary to study economics
  • Identify, solve and interpret the characteristics of each family of functions: linear, polynomial, exponential, logarithmic and quadratic
  • Analyze nonlinear functions using differential calculus
  • Demonstrate an understanding of the rules of differentiation as they apply to multivariable functions
  • Find solutions to unconstrained optimization problems by identifying relative and global maximums and minimums of single and multivariable functions
  • Find the solution for constrained optimization problems using methods of substitution and Lagrange multiplier for both equality and inequality constraints
  • Use integration and matrix algebra techniques in economic analysis
  • Analyze difference and differential equations of first and second order

In this course you will learn and review how to differentiate exponential, natural log and log functions, homogenous functions, Euler's Theorem as well as properties of matrices and the usage of the Cramer’s Rule.

Click here for the official course description from the American University Catalog.

Learn more today. Call us at 855-725-7614 to speak to an admissions representative, or request more information here.