|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.
|2 Mid-Terms||40 percent|
|Final Examination||50 percent|
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.
These assignments that will be graded over the term.
They will be covered in the regular tutorial.
Solutions are generated
in MAPLE and published in
|1||Equilibrium Analysis/Linear Models and Matrix Algebra||CH 3,4|
|2||Linear Models and Matrix Algebra||CH 5||
||HW 1 Key|
|3||Linear Models and Matrix Algebra, continued||CH 5||
||HW 2 Key|
|4||Differentiation and Comparative Statics||CH 6, 7||
||HW 3 Key|
|5||Comparative Statics of General Function Models||CH 8|
|6||Comparative Statics, continued||CH 8||
||HW 4 Key|
|7||Optimization and Equilibrium||CH 9||
||HW 5: Q's 1-3 key and Q4 Key|
|8||Exponential and Logarithmic Functions||CH 10||
||HW 6 Key|
|9||Multi variable optimization||CH 11|
|10||Optimization with Equality Constraints||CH 12||
||HW 7 Key|
|11||Optimization with Equality Constraints (continued)||CH 12||
||HW 8 Key|
|12||Non-Linear Programming and Kuhn-Tucker conditions||CH 13||HW 9 Key|
|13||Duality and the Envelope Theorem||CH 13||HW 10 Key|
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
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)
I will be supplying answer keys in maple to homework.
Practice Final #1
Practice Final #2
answers to Midterm
Selected answers to Final #1
Selected answers to Final #2