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Admissions

It is a University which is committed to excellence and overall development of the student and one where talent is nurtured and honed in the best possible manner. Come, be a part of our never-ending journey of accomplishments and accolades.

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Placements

Excellent education not only imparts knowledge, but also paves the way for a promising and successful career. The Placement Cell at The IIS University has numerous success stories to narrate in this regard...

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Life @ IISU is nothing less than a kaleidoscope of myriad hues; complete with vibrant events and memorable occasions to cherish for a lifetime.

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Taking the age-old tradition of enlightenment through education forward, The IIS University - in its continuous pursuit of excellence - firmly believes that an institution’s academic profile determines its worth and value. Therefore, on offer are a wide variety of both conventional and contemporary programmes of study.

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To stimulate curiosity and cater to the global needs of a dynamic education, The IIS University - since inception - has been promoting and encouraging research-based experiential learning among all its students.

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About Us

The IIS University, with its perfect amalgamation of innovation, inspiration and synergy, aims to be a model institution for students across disciplines and programmes.

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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 METHODS FOR ECONOMIC ANALYSIS | Economics

MATHEMATICAL METHODS FOR ECONOMIC ANALYSIS

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Paper Code: 
ECO 123
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

To understand the application of mathematics in economic theory.

12.00
Unit I: 
Terminology, Concepts and tools

Constants, variables, parameters, intercepts Coefficients-Functions-inverse, general and specific functions-Equations-Applications-Demand and supply functions-Cost and revenue functions-Consumption function-IS & LM functions-Multivariable functions-Market equilibria.

12.00
Unit II: 
Differential Calculus

Rules of differentiation-slopes-linear and non linear functions-partial derivatives-higher order derivatives-Young’s Theorem- Constrained & unconstrained optimization- Lagrangian Multiplier-Interpretation-Use of derivatives in economics –Maximization, minimization, elasticities – Utility function – production function – revenue, cost and profit functions (simple problems).

12.00
Unit III: 
Integral Calculus

Concept-simple rules of integration-application to Consumer’s surplus & producer’s surplus-Costs & revenues.

12.00
Unit IV: 
Matrices & Determinants

Fundamentals of matrix algebra; solving equations- Crammer’s rule & inverse of a matrix; properties of determinants; Application: Input-output analysis.

12.00
Unit V: 
Linear Programming

Basic Concepts, formulation of an LP problem-feasible, basic and optimal solution-graphic and simplex methods-formulation of the dual of a programme and its interpretation-Applications of LP technique.

Essential Readings: 
  1. Yamane, Taro (1975), Mathematics for Economists, PHI, New Delhi.
  1. Allen, R.G.D.(1974), Mathematical Analysis for Economists, Macmillan Press, New Delhi.
  1. Gupta, S.C.(1993), Fundamentals of Applied Statistics., S.Chand, NewDelhi.
  1. Chiang, A.C. (1986), Fundamental Methods of Mathematical Economics, McGraw Hill,New York.
  1. Handry, A.T.(1999), Operations Research, PHI, New Delhi.

      6.   Salvatore, Dominick (1992), Mathematics for Economists, Schaum Series.

Academic Session: 
2016-17
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