Mathematical Models in Economics

Course Code :1001WETWME
Study domain:Mathematics
Academic year:2017-2018
Semester:2nd semester
Sequentiality:-
Contact hours:30
Credits:3
Study load (hours):84
Contract restrictions: No contract restriction
Language of instruction:Dutch
Exam period:exam in the 2nd semester
Lecturer(s)- NNB

3. Course contents *

The set of mathematical methods in economics is very large. In this course, we will discuss risks (definitions, dangerous risks, comparing risks), utility theory (axiomas, expected utility methods, links to insurance and game theory, criticism), sums of independent risks (covariances, convolution, properties), sums of dependent risks (problems, various approximation methods, comonotonicity), and credibility theory (intuitive approach, models of Buhlmann & Buhlmann-Straub).