apl. Prof. Dr. Frank Werner

Otto-von-Guericke Universität Magdeburg

Institut für Mathematische Optimierung

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Winter 2019/20: Mathematical Economics


Information about exam:

Hygiene regulations

room plan


The canceled tutorial from November 28, 2019 will be held on January 15, 2020 (Wednesday) from 1.15 p.m. to 2.456 p.m. in G05 - 311.


The inspection of the written examinations is possible on October 18, 2019 in building 03, room 223, from 3.00 p.m. to 5.00 p.m.

Tue 1.15 p.m. - 2.45 p.m. in G10-460 (60)

Mr. Kirill Kukharenko: Thu 5.00 p.m. - 6.30 p.m. in G02-311 (72)
(Change of time starting from November 7, 2019)

In contrast to the original planning, this lecture is only similar to the predecessor lecture entitled 'Methods for Economists' but not identical, and it is also not identical to the lecture entitled 'Mathematical Economics' which I taught in 2006 and 2008.

In comparison with the predecessor lecture 'Methods for Economists', there are the following three changes:
1) Chapters 4 and 7 of the Lecture 'Methods for Economists' (and the corresponding exercises) are deleted.
2) There is a one-hour written exam (instead of a two-hour exam).
3) For this lecture, one gets 5 credit points (instead of 6 credit points).


1. Basic Mathematical Concepts

2. Unconstrained and Constrained Optimization

3. Sensitivity Analysis

4. Differential Equations

5. Optimal Control Theory

Literature (Textbooks):

1) Sydsaeter, K.; Hammond, P.; Seierstad, A.; Strom, A.: Further Mathematics for Economic Analysis, Financial Times/Prentice Hall, 2005.

2) Werner, F.; Sotskov, Y.N.: Mathematics of Economics and Business, Routledge, Abingdon / New York, 2006.

3) Gandolfo, G.: Economic Dynamics, 4th Edition, Springer, 2010.

4) Kamien, M.I.; Schwartz, N.L.: Dynamic Optimization, 2nd Edition, North-Holland, Amsterdam et al., 1993.

5) Simon, C.P.; Blume, L.E.: Mathematics for Economists, W.W. Norton & Company, New York et al., 1994

6) Takayama, A.: Analytical Methods in Economics, University of Michigan Press, 1993.

7) Takayama, A.: Mathematical Economics, Cambridge University Press, 2nd Edition, 1985.

8) Starr, R.M.: General Equilibrium Theory, An Introduction, Cambridge University Press, 1997.

Lecture Materials

Lectures Notes (in excerpts) (pdf) (44 pages)

Exercises for the tutorials:

  • Series 1: pdf-File

  • Series 2: pdf-File

  • Series 3: pdf-File

  • Series 4: pdf-File

  • Series 5: pdf-File

  • Series 6: pdf-File

  • Series 7: pdf-File

  • Series 8: pdf-File

  • Series 9: pdf-File

  • Examination:

    There is a one-hour written examination in February. As working tools are allowed:

  • a pocket calculator according to the instructions of FWW and

  • ONE individually prepared (TWO-SIDED) A4 sheet of paper with arbitrary material EXCEPT solved exercises, numerical examples from the lecture and old examination problems;

    - for mathematical prerequisites:

  • textbook: Werner and Sotskov, Mathematics of Economics and Business, Routledge, 2006 (free eBook download - but in the examination, ONLY the original print edition from the publisher can be used);

  • Selected Past Examinations (1 hr)

    Examination February 2020 (pdf)

    Examination January 2019 (pdf)

    Examination February 2018 (pdf)

    Quotation: A lot of people complain about their dumb boss, what they don't realize is that they'd be out of a job if their dumb boss were any smarter.
    (Joey Adams)


    English version Last updated: 3 Mar 2020