This course will develop the understanding of application of mathematical concepts in Economics. Starting from the differentiation of mathematical and non-mathematical economics, it will introduce students to the concepts like, economic models, equilibrium analysis, linear models and matrix algebra, comparative static analysis, differentiation, integration, optimization, exponential and logarithmic functions, dynamic analysis etc.
Course Objectives & Learning Outcomes:
By the end of the course, students should be able to:
- Apply economic models.
- Apply the role and interaction variables in equilibrium analysis.
- Develop an understanding of linear models and matrix algebra.
- Apply comparative static analysis.
- Apply optimization rules.
- Apply dynamic analysis.
Mathematics – I
Texts and References:
- Intermediate Algebra Review, a Small Group Approach, by Debra Gray Franklin. Custom Published by Thomson, 2002. ISBN: 0759336245
- Introduction to Probability, by S.T. Tan. Custom Published by CENGAGE Learning. ISBN: 0495214442
- College Algebra, 4th Edition, by Robert Blitzer. Published by Prentice Hall. ISBN: 9780536502094
- Pre-Calculus: Mathematics for Calculus, by J. Stewart, L. Redlin and S. Watson. Published by Brooks/Cole. ISBN: 1133393845 (New Custom Bundle Set Fall 2011)
- Dowling, E. T. (2001). Mathematics for Economists, Schaum’s Outline Series- 3 rd Edition – McGraw Hill Publishing Company.