ECO 244: Applied Mathematics II COURSE OUTLINE

Dept. of Economics, North South University SPRUNG 2012

Course Instructor: Saima Khan (Sai)

Office: NAC 826
Office Hours: ST: 9:10 a.m. – 9:40 a.m.
1:00 p.m. – 2:30 p.m.
MW: 9:30 a.m. – 11:00 a.m.
1:00 p.m. – 2:30 p.m.
Contact:  nsu.saima.khan@gmail.com
Website:  nsusai.wordpress.com

Course Objective

This course intends to introduce the basic concepts of mathematics that is used in Economics and Business. By
the end of this course students should be familiar with concepts and application of Constrained and Unconstrained
Optimization, Integration and Differential Equations. Emphasis will be on understanding the concepts and their
application in Economics and Business – mere ability to replicate formulae is not what this course is about!
Students will be called upon to develop their listening skills and analytical skills and work independently.

Course Material

Text Book :
1. Alpha C. Chiang & Kevin Wainwright, Fundamental Methods of Mathematical Economics, 4th edition,
McGraw Hill International Edition

2. E T Dowling, Introduction to Mathematical Economics, 3rd Edition, Schaum’s Outline Series, McGraw-Hill,
2000

Supplementary Notes on Relevant Chapters: made available on nsusai.wordpress.com

Key Topics

Two Dimensional Case

Unconstrained Optimization: Multiple Dimensional Case
1.
Application to Profit Maximization, Market structure
etc
 Exponential Function
Exponential and Logarithmic function
2.  Logarithmic Function
 Some business and Mathematical example
Time Value of Money
Mathematics for Finance The concept of simple, compound interest rate
3.
Present and future value of an annuity
Interest rate problems
1

Production Functions  Basic attributes of Production functions

Page

4.
 Linearly Homogenous functions
ECO 244: Applied Mathematics II COURSE OUTLINE
Dept. of Economics, North South University SPRUNG 2012

 Cobb-Douglas Production function

 Constant Elasticity of Substitution functions
 Homethetic Functions
Graphical Method
Constrained Optimization Lagrangian Method
5.
Production decision problems with resource
constraints
 Introduction to Integration
Integration
6.  Integration by substitution
 Integration by parts
Constant term and constant coefficient with application
Differential Equations Variable term and variable coefficient
7.
Exact differential equation
Linearization and application

 Disclaimer: Changes may be made to the syllabus if and when necessary. Any changes will be announced in class
ahead of time.

Grade Distribution:

Assignments and Quizzes 25%

Midterm 1 20%
Midterm 2 25%
Final Exam 30%

The Final Grade is authorized and published by the Department of Economics. Please refrain from making absurd
requests regarding grades at any point in time.

The End 

2Page