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62659-01 - Lecture: Numerical Methods and Optimization (3 CP)
| Semester | spring semester 2025 |
| Course frequency | Every spring sem. |
| Lecturers | Hannes Weigt (hannes.weigt@unibas.ch, Assessor) |
| Content | Building upon the economic basics from the core courses, students learn how to transfer economic problems and questions into mathematical models which can in turn be solved using computational methods. The lecture will focus on economic understanding and interpretation of models with examples from the topical fields of the MEPP. In particular, students will learn what economic modeling entails, how to develop basic model formulations for a given research question, the purpose of different model approaches, and the limits of modeling. In addition, students will learn how to implement and solve simple numerical models. To this end the lecture will us both, generic economic exercise examples to showcase the basic elements of modeling as well as test models within the fields of the MEEP which students are tasked to interpret and extend. Thereby students will be able to experience how modeling can be applied to understand economic structures and dynamics and how numerical methods can help to solve and quantify specific questions. The modeling elements of the lecture will focus on single agent and system perspectives (optimization models) as well as actor interactions (equilibrium models), which are recurring themes throughout economics. |
| Learning objectives | Overall, the purpose of this course is to enhance students’ abilities to translate economic questions into a formal mathematical language and in turn understand the mathematical properties and results of models from an economic perspective. Consequently, the purpose of the course is not to provide students with detailed knowledge on specific computational approaches and algorithms. |
| Bibliography | Any needed literature will be provided in the lecture. |
| Comments | The course will be taught in class |
| Weblink | Weblink |
| Admission requirements | The lecture elements of the course will provide the needed economic and mathematical basics. Nevertheless, a solid background in microeconomics and mathematics is required. Basic understanding of computational economics will be helpful, but is not required. It is not assumed that students are familiar with a specific programming language or modeling software. A set of different models will be provided (i.e. in GAMS). However, the lecture will not provide detailed background on coding in general. |
| Course application | Registration: Please enroll in the Online Services (services.unibas.ch); Eucor-Students and mobility students of other Swiss Universities or the FHNW first have to register at the University of Basel BEFORE the start of the course and receive their login data by post (e-mail address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/de/Studium/Mobilitaet.html After successful registration you can enroll for the course in the Online Services (services.unibas.ch). Applies to everyone: Enrolment = Registration for the course and the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Wednesday | 12.15-14.00 | Wirtschaftswissenschaftliche Fakultät, Auditorium |
Dates
| Modules |
Module: Core Courses in International Business, Trade and the Environment (Master's Studies: Business and Economics) Module: Fundamentals in Economics (Master's Studies: Economics and Public Policy) Module: Preparation Master's Thesis in Economics (Master's Studies: Sustainable Development) Module: Risk Analysis (Master's Studies: Actuarial Science) Module: Specific Electives in Business and Economics (Master's Studies: Business and Economics) Module: Specific Electives in International Business, Trade and the Environment (Master's Studies: Business and Economics) Module: Statistics and Computational Science (Master's Studies: Actuarial Science) |
| Assessment format | record of achievement |
| Assessment details | Performance will be assessed via homework assignments and a final written exam. written exam: date and room tbd |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |