Courses Master Display 2021-2022

Course Description To PDF
Course title Mathematical Research Tools
Course code EBC4182
ECTS credits 6,5
Assessment Whole/Half Grades
Period
Period Start End Mon Tue Wed Thu Fri
1 30-8-2021 15-10-2021 X X
Level Advanced
Coordinator Andrés Perea y Monsuwé
For more information: a.perea@maastrichtuniversity.nl
Language of instruction English
Goals
The goal of this course is learning how to find, classify and analyze solutions to optimization problems.
Description
In economics and business we must often solve maximization or minimization problems. Think, for instance, of a firm that wants to minimize its costs while guaranteeing a certain production level, or investors that wish to find the optimal portfolio given a certain degree of risk. How do we find the solutions to such optimization problems, and how can we classify and analyze such solutions? This will be the main objective of this course. We will concentrate on four themes: (i) optimization problems without constraints, (ii) optimization problems with equality and inequality constraints, (iii) parametrized optimization, that is, how does the optimal solution change if we change the underlying parameters in the problem, and (iv) optimization in a dynamic setting with finite and infinite horizon.
Literature
* Rangarajan K. Sundaram: "A First Course in Optimization Theory", Cambridge University Press, 2011.
Prerequisites
Basic level of mathematics (e.g. Sydsaetter et.al, Mathematics for Economic Analysis).
Teaching methods PBL / Lecture / Assignment
Assessment methods Participation / Written Exam
Evaluation in previous academic year For the complete evaluation of this course please click "here"
This course belongs to the following programmes / specialisations
Master Business Research - No specialisation Year 2 Methodology Elective(s)
Master Business Research - Operations Research Year 1 Elective Course(s)
Master Business Research - Operations Research Year 2 Elective Course(s)
Master Economic and Financial Research - No specialisation Year 1 Compulsory Course(s)