MA First Semester
Econ. 553 Mathematical Methods SYLLABUS
Credit: 4
Teaching Hours: 64
Course Objective
This course intends to acquaint the students with some mathematical tools used in economics
Unit I: Basic Concepts 9
Logarithms;
Multivariate differentiation;
Implicit function;
Integration;
Set theory;
Vectors:Concepts, spaces, and linear combinations
Unit II: Optimization 7
Constraint and unconstraint optimization theories and their applications in production, cost and profit analysis
Unit III: Game Theory 8
Strategic behaviors;
Pay off matrix;
Value of Game;
Saddle point;
Mixed strategy;
Dominant strategy ;
Computation of value of game;
Nash equilibrium
Unit IV: Difference and Differential Equations 20
Difference and differential equations of first and second order with constant coefficients, constant term, and variable term
Unit VI: Linear Programming 13
Graphic method;
Simplex method;
Duality theorems;
Application
Unit VII: Input-Output Analysis 7
Closed and Open input-output model;
Dynamic Input-output model; Application
REFERENCES
Archibald and Lipsey ( ). An introduction to mathematical treatment of economics, London: ELBS
Baumal W J (1959 ). Economic dynamics, New York : Macmillon
Chiang, A C (1974). Fundamental methods of mathematical economics. Tokyo: McGraw Hill Kogakusa
Dowling, E. T.( 1992 ). Introduction to mathematical economics, McGraw Hill Schum’s outline series
Yamane T, (1999). Mathematics for economists: An elementary survey, 2nd edition. New Delhi: Prentice Hall India
