Coming soon
MATHEMATICAL ECONOMICS – II
1. To help students understand the application of mathematical techniques in the determination of price and quantity under duopoly.
2. To help students examine the factors, which determine the pattern of trade cycles and economic growth of a country.
3. To help students to interpret the application of the techniques of linear programming, input-output and game theory in economics.
Existence and uniqueness of equilibrium, Stability ofequilibrium, Static stability-Marshallian&Walrasian Stability Conditions, dynamicstability- Lagged adjustment- Cobweb model; Duopoly market models-quasicompetitivesolution, Collusion solution, Cournot solution, Stakelberg solution andmarket share solution
Multiplier- Static and Dynamic, IS-LM Curves, Multiplier-Accelerator interaction trade Cycle models of Samuelson and Hicks.Growth Models- Harrod-Domar, Solow, Meade, and Kaldor.
Simplex method; problem of Degeneracy and mixed constraints,Duality theorems.
Concepts of static &dynamic, closed &open input - output models.Hawkins-Simon conditions of viability, Determination of gross output, price and value added.
Two-person constant sum games,Maximin and Minimax,dominant strategies, Pure and Mixed strategies, Saddle point solution, conversion of game theory into linear programming
- James. M. Henderson and Richard E. Quandt, Microeconomic Theory: A Mathematical Approach, McGraw-Hill Inc., US; 3rd Revised edition,1980.
- B.C. Mehta: Mathematical Economics: Microeconomic Models, Sultan Chand& Sons, New Delhi, 1987
- R.G.D Allen, Mathematical Economics, Macmillan; 2nd Revised edition, 1959.
- Alpha C Chiang, Fundamental Methods of Mathematical Economics, McGraw-Hill Education 2nd ed., 1974
