UNIVERSITY OF GUYANA )EPARTMEMENT OF ECONOMICS Course Outline Semester 2019-2020 ‘Course: ECN 1202 ~ Mathematics for Economics Lecturer: Mr. Anand Persaud Office Hours: To be announced Objective Students will apply fundamental mathematics to economics. Prior exposure to ECN 1101- Introductory Mathematics, ECN 1100- introductory Micro — economics and ECN 1200- Introductory macro-economics would be helpful Course Activity ‘Students will be exposed to three hours of class room work (two hours of lectures + one hour tutorial) per week for the duration of this course. Compulsory attendance is suggested. Evolution = One Quizz 10 marks ~ Mid ~ semester test - 30 marks Final Examination — 60 marks Final Grade Scheme ‘A 75 t0 100 B= 651074 ceS5t0 64oo, Kombi? Course Content Week 1: Revision: Application of linear and non linear equalities and inequalities; = _ Rules of differentiation. Rules integration. (Too variables) ‘Week 2: Differential Calculus: Application of rate of change in economics ~ revenue, cost, profit and optimising function of a single variable. ‘Week 3: Optimising functions of a single variable. Week 4: Elasticities: Demand, supply, Substitutes, complements Week 5: Calculus of multivariable Functions- partial derivatives, second-order partial differentials, total and partial differentials, total derivatives Week 6: Optimisation of multivariable functions. Week 7: Optimisation of multivariable functions under constraint Week 8: Constraint optimasation functions in economic. ‘Week 9: Logarithmic, Exponential and Power functions- multi variables “Week 10: Special Determinants and matrices and their use in Economics ~The Jacobian, the Hessian, the bordered Hessian for constraint optimisation Week 11: Integral calculus — economic applications. ” ‘Week 12; Integral calculus economic applications. Revision, TESS Hathematres of Rance 4. Baldani, JJ. Bradfield and R, Turner, Mathematical Economics, Dryden Press,Harcourt Bruce Pub, NY. 2. Chiang, Alpha, Fundemental Methods in Mathematical Economics, Mc Graw Hil 3. Klien, Mathematical Methods for Economist, Addison Westly inc.