BAHÇEŞEHİR UNIVERSITY BİLGİ PAKETİ / DERS KATALOĞU
| ECONOMICS | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
Course Introduction and Application Information
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| ECO2011 | Linear Models in Economics | Spring | 3 | 0 | 3 | 6 |
| This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester. |
Basic information
| Language of instruction: | English |
| Type of course: | Departmental Elective |
| Course Level: | Bachelor’s Degree (First Cycle) |
| Mode of Delivery: | Hybrid |
| Course Coordinator : | Assoc. Prof. KAAN İRFAN ÖĞÜT |
| Course Lecturer(s): |
Assoc. Prof. KAAN İRFAN ÖĞÜT |
| Recommended Optional Program Components: | None |
| Course Objectives: | This course aims to extend students’ knowledge and skills in linear and matrix algebra and to teach them how to use this techniques in economics. |
Learning Outcomes
|
The students who have succeeded in this course; 1. Students will acquire basic knowledge in matrix algebra 2. Students will be able to understand how matrix algebra is used in economics 3. Students will be able to define systems of linear equations. 4. Students will be able to solve the simultaneous equation systems 5. Students will be able to use matrix algebra to analyze closed and open macroeconomic models. 6. Students will be able to combine concepts of probability and matrix in framework of Markov’s Chains 7. Students will be able to find Eigenvalues and Eigenvectors and use them in differential equations. |
Course Content
| Systems of Linear Equations Matrices, Determinants and Systems of Linear Equations Jacobian Matrix, Static Mundell-Fleming Models in Macroeconomics Vectors and Matrices Linear Transformations and Inner Product Spaces The Leontief Input-Output Model in Economics Markov Chains Eigenvalues and Eigenvectors Linear Programming: Graphical and Simplex Method. |
Weekly Detailed Course Contents
| Week | Subject | Related Preparation |
| 1) | Vectors and Vector Spaces | . |
| 2) | Matrices and Matrix Operations | . |
| 3) | Determinants and Systems of Linear Equations | . |
| 4) | Jacobian Matrix and Static Mundell-Fleming Models in Macroeconomics | . |
| 5) | Leontief Input-Output Model in Economics | . |
| 6) | Markov Chains | . |
| 7) | Midterm Exam | . |
| 8) | Eigenvalues and Eigenvectors | . |
| 9) | Solving Systems of Linear Differential Equations with Eigenvalues and Eigenvectors | . |
| 10) | Introduction to Dynamic Linear Simultaneous Differential Equation Systems and Dynamic IS-LM Model in Macroeconomics | . |
| 11) | Linear Transformations | . |
| 12) | Euclidean Spaces | . |
| 13) | Inner Product Spaces | . |
| 14) | LU Decomposition | . |
| 15) | Linear Programming: Graphical and Simplex Method | . |
| 16) | Final Exam | . |
Sources
| Course Notes / Textbooks: | Finite Mathematics, Barnett, R., Ziegler, M., Byleen, K., Pearson, 2010 Linear Algebra With Applications, G. Williams, Jones and Barlett Publishers, 4th Edition 2001 |
| References: | Linear Algebra With Applications, G. Williams, Jones and Barlett Publishers, 4th Edition 2001 |
Evaluation System
| Semester Requirements | Number of Activities | Level of Contribution |
| Quizzes | 4 | % 20 |
| Homework Assignments | 4 | % 20 |
| Midterms | 1 | % 25 |
| Final | 1 | % 35 |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 65 | |
| PERCENTAGE OF FINAL WORK | % 35 | |
| Total | % 100 | |
ECTS / Workload Table
| Activities | Number of Activities | Duration (Hours) | Workload |
| Course Hours | 14 | 3 | 42 |
| Study Hours Out of Class | 14 | 1 | 14 |
| Homework Assignments | 4 | 2 | 8 |
| Quizzes | 4 | 3 | 12 |
| Midterms | 1 | 10 | 10 |
| Final | 1 | 10 | 10 |
| Total Workload | 96 | ||
Contribution of Learning Outcomes to Programme Outcomes
| No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
| Program Outcomes | Level of Contribution | |
| 1) | As a world citizen, she is aware of global economic, political, social and ecological developments and trends. | 1 |
| 2) | He/she is equipped to closely follow the technological progress required by global and local dynamics and to continue learning. | 1 |
| 3) | Absorbs basic economic principles and analysis methods and uses them to evaluate daily events. | 4 |
| 4) | Uses quantitative and statistical tools to identify economic problems, analyze them, and share their findings with relevant stakeholders. | 5 |
| 5) | Understands the decision-making stages of economic units under existing constraints and incentives, examines the interactions and possible future effects of these decisions. | 4 |
| 6) | Comprehends new ways of doing business using digital technologies. and new market structures. | 4 |
| 7) | Takes critical approach to economic and social problems and develops analytical solutions. | 4 |
| 8) | Has the necessary mathematical equipment to produce analytical solutions and use quantitative research methods. | 5 |
| 9) | In the works he/she contributes, observes individual and social welfare together and with an ethical perspective. | 1 |
| 10) | Deals with economic problems with an interdisciplinary approach and seeks solutions by making use of different disciplines. | 3 |
| 11) | Generates original and innovative ideas in the works she/he contributes as part of a team. | 1 |