apl. Prof. Dr. Frank Werner

Otto-von-Guericke Universität Magdeburg

Institut für Mathematische Optimierung

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Winter 2016/17: Methods for Economists


The inspection of the written examinations is possible on April 12, 2019 in building 02, room 215, from 2.00 p.m. to 4.00 p.m.

Tue 1.15 p.m. - 2.45 p.m. in G02-311 (72)

Ms. M.Sc. Julia Lange: Wed 11.15 a.m. - 12.45 a.m. in G10-111 (72)


Consultation-hour of the tutor: every MONDAY from 2.00 p.m. to 4.00 p.m. in building 02, room 207 a (during the lecture term starting from November 14, 2016 until January 30, 2017)

This lecture is closely related to the predecessor lecture entitled Mathematical Economics. However, the subjects considered are not identical, and the number of lectures per term is halved but the number of tutorials is the same.


1. Basic Mathematical Concepts

2. Unconstrained and Constrained Optimization

3. Sensitivity Analysis

4. Applications to Consumer Choice and General Equilibrium Theory

5. Differential Equations

6. Optimal Control Theory

7. Applications to Growth Theory and Monetary Economics

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) (55 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 two-hour written examination in February. As working tools are allowed:

  • a pocket calculator according to the instructions of FWW and

  • TWO individually prepared A4 sheets 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;

    Some previous examinations in the related lecture 'Mathematical Economics' can be found here.

  • Some Past Examinations: (2 hs)

    Examination February 2016 (pdf)

    Examination February 2015 (pdf)

    Examination February 2014 (pdf)

    Examination January 2013 (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: 19 Mar 2021