Coming soon
Mathematical Methods for Economics-I
To introduce mathematics as a tool to elucidate economic theory.
Basics of a Mathematical Model; Real-Number System; Inequalities and absolute Values; Concept of Sets; Relations and Functions; Types of Functions; Functions of two or more variables; Exponents; Polynomials; Binomial Theorem.
Linear Equations and Graphs-slopes, intercepts, the slope-intercept form; Determining the equation of a straight-line; Quadratic Equation versus quadratic Function; Systems of equations-Solution by Elimination of Variables, Graphical Solution, Equilibrium Analysis in Economics.
Types of matrices; Matrix Operations; Commutative, associative and distributive laws; Minors and cofactors.
Determinants and their properties; Crammer’s rule for solving linear equations; Inverse of a matrix; Solving linear equations with an inverse matrix.
Nature of Comparative Statics; Rate of change and the derivatives; Derivatives and the slope of a curve; Concept of Limit; Limit Theorems; Continuity and Differentiability of a Function.
- Chiang, A. C., Kevin Wainwright, Fundamental Methods of Mathematical Economics ( Fourth Edition), McGraw Hill, 2005
- Dowling, E. T. (1993), Schaum’s Outline of Theory and Problems of Mathematical Methods for Business and Economics, McGraw Hill.
- K. Sydsaeter and P. Hammond, Mathematics for Economic Analysis, Pearson Educational Asia, Delhi, 2002.
- Allen, R.G.D. (1974), Mathematical Analysis for Economists, Macmillan Press, London.
- Mehta, B.C. and G.M.K. Madnani, Mathematics for Economists, Sultan Chand & Sons, New Delhi.
- Yamane, Taro (1975), Mathematics for Economists, Prentice Hall of India, New Delhi.
