ECON 331

Introduction to 
Mathematical Economics

Kevin Wainwright
Office:3689 West Mall
Email:wainwrig@sfu.ca

Spring 2007
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Description:

The course will develop the mathematical tools of calculus and matrix algebra and show how these tools may be used in doing economic analysis.  Topics that will be covered include continuity, derivatives and optimization of functions of one variable; matrices, determinants and inverse matrices; partial derivatives, unconstrained and constrained optimization of functions of several variables; comparative statics.  If time permits, there may be an introduction to economic dynamics.
(Lecture/Tutorial) Prerequisites: ECON 103, 105 and MATH 157 or 151; 60 credit hours.

Text:

Grading:

Assignments 10 percent
2 Mid-Terms 40 percent
Final Examination 50 percent


Policy on Posting Answer Keys

Please note that I will be posting only a limited selection of Answer Keys. Do not expect that all problems and practice questions will have answers supplied.

The Rationale:


 


Outline:

Reading Unit Topic and Selected Chapters from Text

WEEK TOPIC READING ASSIGNMENTS
These assignments that will be graded over the term. 
They will be covered in the regular tutorial.
ANSWERS
Solutions are generated
in MAPLE and published in
Adobe PDF
1 Equilibrium Analysis/Linear Models and Matrix Algebra CH 3,4  
2 Linear Models and Matrix Algebra CH 5
Hand-in Assignment 1
HW 1 Key
3 Linear Models and Matrix Algebra, continued CH 5
Hand-in Assignment 2
HW 2 Key
4 Differentiation and Comparative Statics CH 6, 7
Hand-in Assignment 3
HW 3 Key
5 Comparative Statics of General Function Models CH 8  
5  MIDTERM 1  
6 Comparative Statics, continued  CH 8
Hand-in Assignment 4
HW 4 Key
7 Optimization and Equilibrium  CH 9
 Hand-in Assignment 5
HW 5: Q's 1-3 key and Q4 Key
8 Exponential and Logarithmic Functions CH 10
Hand-in Assignment 6
HW 6 Key
9 Multi variable optimization CH 11  
9 MIDTERM 2  
10 Optimization with Equality Constraints CH 12
Hand-in Assignment 7
HW 7 Key
11 Optimization with Equality Constraints (continued) CH 12
 Hand-in Assignment 8
HW 8 Key
12 Non-Linear Programming and Kuhn-Tucker conditions CH 13  
Hand-in Assignment 9
HW 9 Key
13 Duality and the Envelope Theorem CH 13
Hand-in Assignment 10
HW 10 Key

NOTE:COURSE OUTLINE SUBJECT TO CHANGE 1ST WEEK OF CLASS
 
 
Weekly Tutorial Assignments

Each week students will be expected to come to tutorial having attempted the chapter questions assigned. The TA will go over selected questions but will not always be able to cover all the questions assigned. Therefore students are responsible for informing the TA which questions gave them the greatest difficulty. 

Further, the TA will ask the students to do certain problems in the tutorial. This will allow the TA to observe where students have problems as well as give the students a chance to work on questions with the TA readily available to lend assistance. 

For the list of Chapter Questions



 
Lecture/Study Notes:
Matrix Algebra (ch 4 & 5)
Partial Derivatives and Implicit differentiation 1 (ch 7& 8)
Two Variable Optimization With Economic Applications (ch 11)
Envelope Theorem (ch 13)
  • Matrix Algebra Practice problems 1: click here
  • Matrix Algebra Practice problems 2: Click here
  • single and multivariable calculus Problems 1: Click here
  • Implicit differentiation and multivariable chain rule: Click here
  • Single Variable optimization (Chapter 9) Click here
  • Multivariable optimization (Chapter 11) Click here
  • Lagrange Multiplier Method (Chapter 12) Click here


Using Maple:

Using the "Maple" software package is not required for this section of Econ 331. However, it is a powerful and useful package, especially if a student plans on going on to Graduate Studies. Students are encouraged to try it out.

I will be supplying answer keys in maple to homework.

Instructions:
    Lab: Practice Assignment one This reviews material from chapters 1-3
    Lab: Practice Assignment two This Assignment reviews functions and demonstrates plots in 2-D and 3-D
    Lab:
    Lab: Practice Assignment five Solving nonlinear systems of equations


 
Practice Midterm
Practice Final #1
Practice Final #2
Selected answers to Midterm
Selected answers to  Final #1
Selected answers to Final #2