100% tevredenheidsgarantie Direct beschikbaar na je betaling Lees online óf als PDF Geen vaste maandelijkse kosten
logo-home
Wiskunde Samenvatting IBA Erasmus Jaar 1 - Blok 1 €5,99
In winkelwagen

Samenvatting

Wiskunde Samenvatting IBA Erasmus Jaar 1 - Blok 1

 3 keer verkocht

Samenvatting van alle benodigde stof voor het tentamen Wiskunde.

Voorbeeld 3 van de 26  pagina's

  • Nee
  • Hoofdstuk 1 t/m 7
  • 1 november 2021
  • 26
  • 2021/2022
  • Samenvatting
book image

Titel boek:

Auteur(s):

  • Uitgave:
  • ISBN:
  • Druk:
Alles voor dit studieboek (2)
Alle documenten voor dit vak (2)
avatar-seller
charlottesoer
Charlotte Soer IBA 2021-2022 Mathematics


Unit 1 - Application of Preknowledge

2.2 Mathematical Modelling

Models


Physical Abstract

Static Dynamic Deterministic Stochastic

Static Dynamic

Physical models (static) : fashion models, miniature replicates of buildings, cars.
Physical models (dynamic) : the aerodynamics of a car in a wind tunnel.
Abstract models (static) : the design of a car engine, the age/sex structure of a population.
Abstract models (dynamic) : flow of information in an organisation, how the population
changes overtime.

Deterministic model = the outcome can be determined exactly when all the inputs are
given

Example: P and Q functions in Economics.

Stochastic model = the outcome is calculated with a certain probability, contains random
variables instead of variables

Example: The probability of getting a certain number by throwing a dice.

Economics = a social science which studies how individuals within an economy make
economic decisions on the allocation, distribution and utilisation of
resources in order to satisfy their needs and wants

Economic models

Microeconomics Macroeconomics


Microeconomics = this studies the economic decisions of individual households and firms,
analyses how governments can affect these decisions through the use
of taxes and how individual markets operate

Example: Individual household demand and individual firm supply of good X.

Macroeconomics = this studies the economy as a whole, as well as it studies the
aggregate of all economic decisions

Example: Total planned investment in the economy.

1

,Charlotte Soer IBA 2021-2022 Mathematics


See page 58 for the the circular flow model.

The circular flow model assumes that the economy is composed of the following:
O Three economic agents:
1. Households (consumers)
2. Firms (producers)
3. The government
O Three markets:
1. The goods market
2. The labour market
3. The money market
O Both households and firms operate simultaneously (at the same time)
O Both households and firms have a dual role in the economy due to:
1. Firms are suppliers of goods, but demanders of labour
2. Households are demanders of goods, but suppliers of labour
O Flows 1-4 and 5-6 are a circulation of itself
O Households do not spend all their income -> save -> those savings may be used by
financial organisations to invest

Withdrawals = when money is being taken from the circulation

Example: Taxes.

Injections = when money is being given to the circulation

Example: Subsidies.


2.3 Applications: Demand, Supply, Cost, Revenue

General demand function :
Q = f ( P, Y, Ps, Pc, Ta, A, … )

where;

Q is the quantity demanded of good X
P is the price of good X
Y is the income of the consumer
Ps is the price of substitute goods
Pc is the price of complementary goods
Ta is the taste or fashion of the consumer
A is the level of advertising

Substitute good = a good that can replace another good

Example: Trains and buses.

Complementary good = a good that is consumed with another good

Example: Petrol and cars.
2

, Charlotte Soer IBA 2021-2022 Mathematics


Simplest model for the demand function :
Q = f (P)

In this model, all the other conditions, that are stated before, are constant (also called
ceteris paribus).

Law of demand = a basic economic hypothesis which states that there is a negative
relationship between quantity demanded and price

This means that if the price of a certain good increases, the quantity demanded will
decrease, while all the other conditions remain constant.

Q is plotted horizontally, P vertically.

P = f^-1 (Q) = g(Q)

Use the inverse to go from a Q-function to a P-function.

P = g(Q) can be modelled by a simple lineair equation:
P = a - bQ

where;

a and b are constants
a > 0: when Q = 0, the price per unit is P = a (so the vertical intercept is positive)
(-b) < 0: the price drops by b units for each unit increase in quantity (so the slope is
negative)

P = a + (-b)Q
. . . .
. . . .
Y = c + (m)x

These two mean the same.

Q = a : b because;

P = a - bQ intersects the horizontal axis at the point where P = 0
Substituting the P = 0 into the demand function gives:

0 = a - bQ -> bQ = a -> Q = a : b




3

Dit zijn jouw voordelen als je samenvattingen koopt bij Stuvia:

Bewezen kwaliteit door reviews

Bewezen kwaliteit door reviews

Studenten hebben al meer dan 850.000 samenvattingen beoordeeld. Zo weet jij zeker dat je de beste keuze maakt!

In een paar klikken geregeld

In een paar klikken geregeld

Geen gedoe — betaal gewoon eenmalig met iDeal, creditcard of je Stuvia-tegoed en je bent klaar. Geen abonnement nodig.

Direct to-the-point

Direct to-the-point

Studenten maken samenvattingen voor studenten. Dat betekent: actuele inhoud waar jij écht wat aan hebt. Geen overbodige details!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper charlottesoer. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor €5,99. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 64670 samenvattingen verkocht

Opgericht in 2010, al 15 jaar dé plek om samenvattingen te kopen

Begin nu gratis
€5,99  3x  verkocht
  • (0)
In winkelwagen
Toegevoegd