Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
Course Code |
Course Title |
|||
24DECO 501A |
Mathematical Economics-I (Theory) |
Students will: CO25:analyze consumer behaviour, mathematically CO26: evaluate the nature of relationships between key economic variables pertaining to consumers by mathematically interpreting relevant microeconomic theories. CO27:evaluate production decisions of firms by applying mathematical techniques CO28: evaluate different types of production functions and their effect on cost and input decisions of a firm through their mathematical analysis CO29: evaluate the production decisions of a perfectly competitive firm, mathematically CO30: contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures and Discussions.
Learning activities for the students: Practice Modules and Assignments. |
Class activity, Assignments and Semester end examinations. |
· Production function – definition and nature
· Isoquant – definition, slope and MRTS; Isocost line
· Optimizing behavior of firm- constrained output maximization, constrained cost minimization and profit maximization
. Elasticity of substitution – definition and measurement
Suggested Readings:
E Resource:
https://www.youtube.com/watch?v=YmORFrNr3gM
Journal:
International Journal of Mathematics and statistics
http://www.ceser.in/ceserp/index.php/ijms