This Subject Includes

  • Course No: HS 155
  • Course: B.Tech
  • Semester: V
  • Title: Introductory Mathematical Economics
  • Stream:
  • Description:

    Preamble / Objectives (Optional):

    This is a basic course on application of mathematical techniques in economics. The course will help

    students explore the subject of economics through mathematical techniques. Several economics topics will

    be introduced to the students in the course.

    Course Content/ Syllabus:

    Review of real number system, logic, mathematical proof; Sets and set operations; Functions of one

    variable, consumption function, cost function; Differentiation, marginal cost, marginal utility, different kinds

    of elasticities; Sequence and series, limits, convergence, present discounted value and investment

    decision, applications in ecology; Single variable optimization: convex and concave functions, profit

    maximization, cost minimization, inter-temporal utility maximization; Integration: area under curves,

    indefinite and definite integrals, extraction from oil well, income distribution; Difference equations: first and

    higher order difference equation, dynamic stability of equilibrium, Cobweb model.

     

    Books (In case UG compulsory courses, please give it as “Text books” and “Reference books”. Otherwise

    give it as “References”.

    Texts: (Format: Authors, Book Title in Italics font, Volume/Series, Edition Number, Publisher, Year.)

    1. K Sydsaeter and P Hammond: Mathematics for Economics Analysis, 1st edition, Pearson Education India, 2002.

    2. A C Chiang: Fundamental Methods of Mathematical Economics, 3rd Edition, McGrawHill, 1984.

    3. C P Simon and L Blume: Mathematics for Economists, 1st edition, Viva Books, 2018.

    References: (Format: Authors, Book Title in Italics font, Volume/Series, Edition Number, Publisher, Year.)