Mathematical models in economy

Dr. Aneta Gacovska-Barandovska, Professor

Course content:

Basic economic functions. Marginal functions. Elasticity. Demand function. Consumption and demand market. Supply function, cost function. Income function, profit, optimal volume of production). Forecasting (linear, parabolic, exponential trend. Arrow-Debro model of exchange economy and production economy. Market equilibrium problem. Replacement models. Inventory models. Markov analysis. Transition matrix. Waiting lines. 

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