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Minutes BA Eco. Major Basic Mathematics For Economic Analysis DSC 2

The minutes summarize a meeting to discuss the course "Basic Mathematics for Economics". The meeting was attended by professors from the Department of Economics and representatives from various colleges. They discussed the units to be covered in the course, including economic models, equilibrium analysis, and linear models. References for each unit were also noted. It was decided that the internal assessment for the course would be based on two class tests rather than other assignments.

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58 views

Minutes BA Eco. Major Basic Mathematics For Economic Analysis DSC 2

The minutes summarize a meeting to discuss the course "Basic Mathematics for Economics". The meeting was attended by professors from the Department of Economics and representatives from various colleges. They discussed the units to be covered in the course, including economic models, equilibrium analysis, and linear models. References for each unit were also noted. It was decided that the internal assessment for the course would be based on two class tests rather than other assignments.

Uploaded by

bing chillin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Minutes of the Meeting

Basic Mathematics for Economic

• Course Code : ECON021


• Course Abbreviation : BMEA
• Credits: 4
• Duration (per week): 4 hours (3 lectures+1 tutorial)

Meeting held on 27th October at 3.30 p.m. and 01 November, 2022, 5 pm (online)

By: Professor Sudhir Shah and Dr Soumendu Sarkar, Department of Economics

Attended By:

Niti Khandelwal - Kirori Mal College

Gautam Jha - PGDAV (Evening)

Nitish Kashyap - Daulat Ram College

N. Shraddha Varma - Maitreyi College

Unit 1: Economic Models

Ingredients of mathematical models - variables, constants, parameters, equations, and


identities; Real number system; Sets and functions; relations and their properties; types of
functions; functions of more than one variable;
Reference: Chapter 2; Chiang, A and Wainwright, K. (2005).

Limit, sequences, and series: convergence, algebraic properties, and applications;


Reference: Chapter 6 (4.4,6.1,6.4,6.5,6.6); Sydsaeter, K., Hammond, P. (2002).

Continuous functions: characterization, properties with respect to various operations and


applications; Differentiable functions: characterization, properties with respect to various
operations and applications; second and higher order derivatives: properties and applications.
Reference:
Chapter 6 (6.1,6.2); Sydsaeter, K., Hammond, P. (2002).
Chapter 6, Chapter 7(7.1,7.2,7.3,7.5(only market model)); Chiang, A and Wainwright, K.
(2005).

Unit 2: Equilibrium Analysis in Economics

Meaning of equilibrium; partial market equilibrium - linear and non-linear models; General
market equilibrium
Reference: Chapter 3(3.1,3.2,3.3,3.4-deemphasize n-variable case & its solution); Chiang, A
and Wainwright, K. (2005).

Unit 3: Linear Models and Matrix Algebras and their Applications in Economics
Matrix operations, Determinants, and Cramer’s Rule and their applications
Reference: Chapter 4(except 4.7), Chapter5(5.1-5.6(only market models)); Chiang, A and
Wainwright, K. (2005).

The Internal Assessment should be based on two class tests instead of other kinds
of assignments.

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