QUANTITATIVE METHODS IN ECONOMICS

Status: Required course

Period: Third year, First semester

ECTS credits: 5

Class hours: 60 class hours (30 lectures and 30 seminars)

Language: Bulgarian

Requirements: previous knowledge in linear algebra, analytical geometry, and mathematical analysis in finite – dimensional spaces

Prerequisites: completed courses in Calculus, Micro- and Macroeconomics I

Course content

The course is designed for students majoring in Economics. It focuses on the use in economic theory of classical methods to solve optimization problems and its task is to prepare students for the study of subjects such as Microeconomics II, Macroeconomics II, and Mathematical Economics. The course includes models of economic production, consumer demand theory, general equilibrium theory, linear programming and nonlinear optimization. The duality theory and post-optimality analysis of specific cases is studied in detail.

Course aim

Students will learn the principles of linear modeling in production models. They will acquire knowledge and skills in solving, analyzing and interpreting the solution of the linear and nonlinear optimization models and perform post-optimality analysis.