IT Tools in Economics

obligatory courses

Basic IT tools knowledge gained in secondary school, knowledge of the mathematics gained during Linear Algebra course and dirst part of Mathematical Analysis course

The goal of this course is to present participants basics of IT technology applied in everyday work of an economist. During laboratories students will achieve knowledge and skills of using selected IT tools (advanced Excel, Matlab, Mathematica) and applying appropriate tool to certain economic problems solving. Participation in the course requires basic knowledge of IT and mathematics (scope of secondary school and courses of Linear Algebra and Mathematical Analysis held in the first semester) and ability of using Excel spreadsheet. Knowledge gained by students during this course will be assessed with help of one mid-term test and final test.

1) Introduction to performing advanced economic computations with help od IT tools

2) Extending Excel knowledge: loading data from external sources, data sorting and filtering, relative and absolute cells addressing, application of computational formulas and use of pivot tables and charts

3) Finding roots of nonlinear equations of one variable:

4) Using macros

5) Introduction to Mathematica - using expressions and matrices, access to help system, access to external data sources

6) Introduction to Matlab - using expressions and matrices, access to help system, access to external data sources

7) Graphics functions, reports generation, storing results of computations in Mathematica and Matlab

8) Computing limits of sequences and examining asymptotic characteristic of series

9) Symbolic matrix transformations - computing determinant, inverse, eigenvalues and eigenvectors of a matrix. solving systems of linear equations

10) Symbolic computations of derivatives and integrals of univariate and multivariate functions

11) Mid-term test

12) Numerical matrix transformations - computing determinant, inverse, eigenvalues and eigenvectors of a matrix, solving systems of linear equations; Comparing results with symbolic computations

13) Numerical derivatives computation (backward and forward differences method) and integral computation (trapezoid method and Simpson method)

14) Gradient constrained and unconstrained optimization methods of uni- and multivariate functions

Elements of Mathematica and Matlab help systems

Abell M., Braselton J., Mathematica by Example, 4th Edition, Elsevier, 2009

Dodge M., Stinson C., Running Microsoft Excel 2000, Microsoft Press, 1999

Gilat A., MATLAB: An Introduction with Applications, Willey, 2008

Peal D., Excel 2003, Top 100 Simplified, Willey, 2003

Walkenbach J., Excel 2003 Bible, Willey, 2003

Upon completion of this course student will be able to:

- Assess purposefulness of particular mathematical schema application for solving certain problem from domain of economics

- Choose appropriate IT tool (Excel, Mathematica, Matlab) to apply selected mathematical schema for solving the problem in practice and represent appropriately this problem in selected tool

- Perform sequence of operations aimed at gaining valid results

- Conduct analysis of achieved results and interpret its economic meaning

KU03

Knowledge and skills of students participating in this course will be assessed during

- Mid-term test organized after completion of Excel and Mathematica modules

- Final test

The main goal of the mid-term test will be to assess knowledge and skills of students achieved in the first part of the course during modules held with Excel and Mathematica. Second aim of this test will be to show students possible fields of improvements before final test. Mid-term test will consist of two problems embracing topics covered by the lecturer during the first part of the course. Problems are supposed to be solved with help of a computer with appropriate software. Main criteria for the assessment will be correctness and conciseness of the solution.

Final test will comprise of 4 problems, which are supposed to be solved with help of Excel, Mathematica and Matlab in the front of a computer.