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UNIVERSITY OF INDONESIA
DEPARTMENT OF ECONOMICS
SYLLABUS
ECEU601100
MATHEMATICS FOR BUSINESS AND ECONOMICS
Credit: 3
Odd Semester 2019/2020
A. Teaching Team
Lecturer[email]/Assistant
1. Nachrowi DJ Nachrowi (Koordinator)
2. *Omas Bulan Samosir
3. Agus Salim / Emy Nurmayanti
4. *Witri Indriyani
5. *Pribadi Setiyantoi
6. *Dhaniel Ilyas / Uswatun Hasanah
7. Sartika Djamaluddin
8. *Amalia Anis / Wisam Rohilina
9. *Niniek L. Gyat
10. Hilda Fachrizah / Tjahjanto Budisatrio
11. *Muliadi Widjaja
12. Sri Mulyono / Uka Wikarya
13. *Sita Wardhani
14. *Ledi Trialdi / Kahlil Rowter
15. *Ainul Huda
16. *Irfani Fithria / Ebi Junaedi
B. Subject Description
This course covers both concepts and techniques in mathematics that are relevant in economic
fields. It is intended to help students understand economic theories and perform certain
economic analyses. Topics such as linear model and matrix algebra, derivative, integral, and
optimization will be discussed and practiced in a broad range of economic analysis frameworks.
Moreover, during and outside the class session, the course facilitates students to achieve some
expected transferable skills and attitudes and evaluates them accordingly.
C. Course Type
Compulsory
D. Course Requirement
None
After taking this course, students are expected to understand the basic concepts and techniques
of various mathematical methodologies, which will help them understand the microeconomic
and macroeconomic theories.
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Students are expected to understand the use of matrix algebra, static comparative analysis and
differential calculus, be able to solve static optimization with or without constrain, and
understand the concepts of integral calculus.
F. Reference
In principle, students are free to choose any reference they are comfortable with as long as the
chosen reference is relevant and can help them comprehend the subject and its application
properly. The list below provides some recommended references than can be chosen by the
students:
Chiang, A.C. & Wainwright, K. (2005), Fundamental Methods of Mathematical Economics, 4th
ed., International Edition, McGraw-Hill. [AC]
G. Assessment
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H. Class Time Table
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− Rules of Differentiation for a Function of one or more
Variable Problem Solving
− Rules of Differentiation Involving Function of Different
Variable Active Lecturing
Partial Differentiation
− Economic Applications to comparative statics analysis:
market and national income model
− Other economic applications: marginal concepts,
money creation analysis
− Jacobian determinants
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12, Optimization with Equality Constraints AC (12)
13, − Effects of a constraint AC (12 &
14 − Finding stationary values using Lagrange 14) Problem Solving
− Second-order conditions: Bordered Hessian and AC (14)
Bordered Determinant Active Lecturing
− Economic applications: utility maximization and
consumer demand
− Concept of Quasiconcavity and Quasiconvexity
− Economic applications: homogeneity and return to
scale, least-cost combination of inputs
Attendance
Faculty of Economics, University of Indonesia, and the program require minimum attendance as
eligibility requirement to take the final exam and to pass the course:
- 80% of lectures (maximum 4 absences)
- 70% of tutorial sessions (maximum 4 absences)
Examination
− Students are allowed to bring one page cheat sheet during the exam.
− Any cheating at examination (Midterm and Final Examination) will result in grade E and/or
extending the study for one semester.
− Special consideration. Students may sit special exam only under special circumstances; the
following are required:
o Students may sit special exam if hampered by illness; they need to provide official letter
or medical evidence from the hospital that states that the student should be
hospitalized. The recovery days are allowed only under statutory declaration from the
doctor.
o The hospital statement should be handed-in at the administration desk at most three
days after the exam day.
o Lecturer may give special exam only if the official letter from the Head or Deputy-head
of the program is presented
Plagiarism
Students should obey the intellectual property rights. University does not tolerate any
infringement of this rule. (See separated explanation)
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Statement of Authorship
Student should attach and sign the statement of authorship (provided by the resource center)
to every paper they produce. All group members should sign the statement. Lecturer will not
accept the paper without this attachment, or alternatively may reduce the mark given. (See
separate explanation)