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Module MA3484: Methods of Mathematical Economics
- Credit weighting (ECTS)
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5 credits
- Semester/term taught
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Hilary term 2018-19
- Contact Hours
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11 weeks, 3 lectures including tutorials per week
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- Lecturer
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Prof. David Wilkins
- Learning Outcomes
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On successful completion of this module, students will be able to:
- determine optimal solutions of simple linear programming problems
using the simplex method;
- justify with reasoned logical argument the basic relationships
between feasable and optimal solutions of a primal linear programming
problem and those of the corresponding dual programme;
- explain why the simplex method provides effective algorithms
for solving linear programming problems;
- explain applications of linear algebra and linear programming
in contexts relevant to mathematical economics;
- Module Content
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- Introduction to linear programming problems.
- The Transportation Problem
- Methods for solving linear programming problems based on the Simplex
Algorithm of George Danzig.
- Duality in the theory of linear programming problems.
- Farkas's Lemma.
- Applications of Farkas's Lemma to prove duality theorems
in the theory of linear programming problems.
- The Karush-Kuhn-Tucker Conditions characterizing optimal
solutions of nonlinear programming problems.
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- Module Prerequisite
- MA1212 (Linear Algebra II).
- Assessment Detail
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This module will be examined in a 2-hour examination
in Trinity term.