Kevin Wainwright's ECON 331 page

ECON 331

Introduction to
Mathematical Economics

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

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:

Fundamental Methods of Mathematical Economics,

Grading:

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

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

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:

First, I do not have an unlimited supply of problems and answers that I can conveniently post. The developing and publishing of problems is a costly proposition.

Second, and more importantly, the process of investigation, consultation with peers and verification of results is crucial to learning. A quick attempt of a problem followed by an equally brief check of the answer key does not lead to retained knowledge. What it leads to is an insatiable need for more problems with answers in the mistaken hope that the same methodology with produce a different result.

This website provides a great number of resources including Sample Exams, Lecture Notes, and Homework that have solved probems. Within these resources you will find a cross section of solutions that will guide you through the appropriate steps to necessary to solve similar problems (those without solutions posted).

Further, homework solutions are produced and posted in Maple (mathematical problem solving software). This is done so that, combined this the Maple tutorial files, you should be able to replicate and modify the commands in my Maple files to answer a wide range of Econ 331 problems.

As long as you demonstrate an effort at the problems

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.

Note: For online support, check my Maple Page

Instructions:

Click on the link to the appropriate assignment.

Save to a disk

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:

Practice Assignment three This assignment introduces the basics of matrix algebra

Practice assignment four This gives you a little more...

Practice Assignment five

Practice Midterm
Practice Final #1
Practice Final #2

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