Mathematical Methods for Economics I
Mathematical Methods for Economics I
Unit – I
Basic Concepts: Sets and set operations; Relations and Functions; Types of Functions: quadratic, polynomial, power, exponential, logarithmic, convex, quasi-convex and concave functions; Graphs of functions of one real variable; Equations; Identities; Equilibrium condition; System of Simultaneous Linear Equations; The Straight line and its slope.
- Set Theory – Concepts and Definitions
- Number of Elements in a Set
- Numerical Problems I: Number of Elements in a Set (Two Sets)
- Numerical Problems II: Number of Elements in a Set (Three Sets)
- Relations and Functions
- Types of Functions
- Finding the Domain and Range of a Function
- Graphs of functions of one real variable
- Equations and Identities
- Equilibrium Conditions - Concept and Numerical Problems
- System of Simultaneous Linear Equations - Concept and Numerical Problems
- The Straight line and its slope
Unit – II
Differential Calculus: Limit and Continuity of a function; Differentiation: Meaning, Rules of Differentiation, Partial and Total differentiation; Second and higher order derivatives for single variables; Applications of Differential Calculus: Derivation of marginal functions from total functions; Inter-relationships among total, marginal and average costs and revenues; Elasticity.
Unit – IV
Integration: Concept; Rules of integration; Methods of integration: Integration by substitution, Integration by parts and Integration by partial fractions; Derivation of total functions from marginal functions, Definite integral: Consumer’s and producer’s surplus.
- Integration - Indefinite and Definite Integrals
- Basic Rules of Integration
- Numerical Problems on Basic Rules of Integration - I
- Numerical Problems on Basic Rules of Integration - II (Sum and Difference Rule)
- Integration by Parts
- Numerical Problems on Integration by Parts
- Indefinite and Definite Integrals
- Consumer’s Surplus
- Producer’s Surplus
Comments
Post a Comment