Maths and Economics 4.17.E.561

LECTURES
Subject and stages of development of mathematical economics.
Consumer preference theory.
The consumer utility function and its basic properties.
A model approach to demand as an exemplification of the law of demand.
Production theory - neoclassical approach.
Models of competitive equilibrium of isolated markets (assumptions, structure, and interpretation of models).
General equilibrium in static terms (assumptions, structure, and interpretation of models).
Exercise
The concept of the relation of consumer preferences and the analysis of its basic properties.
The concept of the field of preferences and the analysis of its basic properties. Determination of indifference curves and the optimal basket of goods in a given set.
Preference relation and utility. The definition of the utility function and the analysis of its properties.
Marginal utility of a commodity, Gossen's law, the phenomenon of substitution of commodities.
The task of maximizing the consumer's utility and its relation to the generalized demand function.
Determining and interpreting the price, cross, and income elasticities of demand.
A formalized approach to production processes: production space, vector function of production and its properties.
Essential production functions and analysis of their properties.
Neoclassical enterprise theory. A mathematical approach to the goal of a producer operating in the conditions of perfect competition, monopoly, and oligopoly.
The function of the supply of goods and the function of production demand and their relationship with a production function.
Models of competitive equilibrium of isolated markets - assumptions, form, and interpretation.
General equilibrium models in a static approach - analysis of assumptions, structure, and interpretation.