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Mathematics and Statistics for Economics [ LECON2500 ]


5.0 crédits ECTS  30.0 h  

Teacher(s) Van Bellegem Sébastien (compensates Bauwens Luc) ; Bauwens Luc ; Davila Muro Julio ;
Language English
Place
of the course
Louvain-la-Neuve
Prerequisites

Basic background in mathematics

Main themes

For the mathematics part, the themes of matrix algebra, functions, optimization, and difference/differential equations. For the statistics part: multivariate distributions and related concepts. The two parts are linked in particular by matrix algebra.

Aims

The purpose is that students learn the most important mathematical and statistical tools needed for advanced courses in macroeconomics, microeconomics and econometrics. The course serves mostly to refresh students' knowledge in certain topics, and to ensure that all students taking the advanced courses have a common mathe-matical and statistical level.

Evaluation methods

Written exam

Teaching methods

Methods: Lectures and home works

Content

Mathematics : Matrix algebra (inverse, rank, derivatives, eigenvalues, diagonalization and factorization, quadratic forms). Met-ric and topological spaces, vector spaces. Real functions on Rn (continuity, concavity, differentiability, Taylor expansion, mean value theorem, implicit function theorem). Static optimization (constrained and uncon-strained). Difference and differential equations (steady states, stability).

Statistics: Multivariate distributions: joint, marginal and conditional distributions, (conditional) moments (variance-covariance matrices), independence in probability and linear independence. Law of iterated expectations. Transformation of random vectors. Multivariate normal distribution. Quadratic forms in normal vectors and related distributions (Student, chi-squared, Fisher)

Cycle et année
d'étude
> Master [60] in Economics : General
> Master [120] in Economics: Econometrics
> Master [120] in Economics: General
Faculty or entity
in charge
> ECON


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