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IIS Univ
  • Admissions

    It is a University which is committed to excellence and overall development of the student...

  • Placements

    Excellent education not only imparts knowledge, but also paves the way for...

  • Life@IIS Univ

    Life @ IISU is nothing less than a kaleidoscope of myriad hues; complete with...

  • Academics

    Taking the age-old tradition of enlightenment through education forward,...

  • Research

    To stimulate curiosity and cater to the global needs of a dynamic education,...

  • About Us

    The IIS University, with its perfect amalgamation of innovation, inspiration...

IIS (Deemed to be University)

Gurukul Marg, SFS, Mansarovar, Jaipur 302020, (Raj.) India

Phone:- +91-141-2400160-61, 2397906-07,

Fax: 2395494,2781158, Toll Free No.: 1800 180 7750

Mathematical Economics-II | Economics

Mathematical Economics-II

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Paper Code: 
ECO 613
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

To understand the economic concepts and theories through mathematical methods so as to refine the verbal logic.

12.00
Unit I: 
Review
  • Integral Calculus –Integration and its rules, integration by substitution and by parts, Definite Integral and area under a curve. Consumer’s Surplus & Producer’s surplus.
  • First-order Difference Equations –Definition, General formula for first-order linear difference equations, stability conditions. The Cobweb Model.     
12.00
Unit II: 
Price and Output Determination
  • Perfect Competition:  short run and long run equilibrium, Effects of taxes on optimum output level;
  • Monopoly- Profit Maximization and price discrimination;
  • Monopolistic Competition-Equilibrium price and output determination;yn
12.00
Unit III: 
Game Theory
  • Introduction-Application in the theory of duopoly and oligopoly;
  • Two-person, Zero-sum Games, Saddle point solution;
  • dominant strategies, Pure and Mixed strategies;
  • Cooperative Games;
  • Nash Equilibrium;
12.00
Unit IV: 
Input-Output Analysis
  • Concept of ‘Open & Closed’, ‘Static & Dynamic’ Model;
  • Determination of gross output in an open model.
  • Hawkins-Simon conditions of viability;
12.00
Unit V: 
Linear Programming
  • Formulation of Problem and its Graphical solution;
  • Simplex Method (for maximization only);
  • Concept of Primal and Dual.
Essential Readings: 
  1. Henderson, J.M. and R.E. Quandt (1980), Microeconomic Theory: A Mathematical Approach, McGraw Hill, New Delhi.
  2. Chiang, A. C., Kevin Wainwright, Fundamental Methods of Mathematical Economics  (Fourth Edition), McGraw Hill, 2005
References: 
  1. Mehta, B.C. and G.M.K. Madnani, Mathematics for Economists, Sultan Chand & Sons, New Delhi.
  2. K. Sydsaeter and P. Hammond, Mathematics for Economic Analysis, Pearson Educational Asia, Delhi, 2002.
  3. Dowling, E. T.(1993), Schaum’s Outline of Theory and Problems of Mathematical Methods for Business And Economics, McGraw Hill.
  4. Dowling, E. T.(1993), Schaum’s Outline of Theory and Problems of Introduction to Mathematical Economics, McGraw Hill.
  5. Allen, R.G.D.(1974), Mathematical Analysis for Economists, Macmillan Press ,    London.
  6. Yamane, Taro (1975), Mathematics for Economists, Prentice Hall of India, New Delhi.
  7. Martin J. Osborne, An Introduction to Game Theory, Oxford University Press, New Delhi, 2004.

 

Academic Session: 
2016-17
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