To understand the economic concepts and theories through mathematical methods so as to refine the verbal logic.
Existence and uniqueness of equilibrium, Stability of equilibrium, Static stability- Marshallian & Walrasian Stability Conditions, dynamic stability- Lagged adjustment- Cobweb model; Duopoly market models-quasicompetitive solution, Collusion solution, Cournot solution, Stakelberg solution and market 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.
Links:
[1] https://economics.iisuniv.ac.in/courses/subjects/mathematical-economics-ii-0
[2] https://economics.iisuniv.ac.in/academic-session/2018-19