Advanced Mathematical Methods for Economics

·         Basics of a mathematical model

·          Functions and their types- Demand and supply functions, Cost and revenue functions, Consumption function, IS & LM functions

Multivariate functions-Market equilibria

·         Fundamentals of matrix algebra

·         Properties of determinants

·         Solving equations by inverse matrix method and Crammer’s rule Application

·         Input-output analysis

·         Rules of simple differentiation

·         Higher order derivatives

·         Concavity and convexity

·         Maxima, minima and point of inflection

·         Partial derivatives; unconstrained and constrained optimization

                                    Use of derivatives in economics

·         Concept of integration

·         Simple rules of integration

·         Definite integral

·         Application of integration - Consumer’s surplus, producer’s surplus

·         Cost, revenue, demand and consumption/ saving functions

·         Basic Concepts,

·         Formulation of LP problem,

·          Basic feasible solution and optimal solution,

·         Graphical and simplex methods;

·         Concept of primal and dual

Game Theory