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Mathematical Economics

The Mathematical Economics course at the National Defence University aims to equip students with essential mathematical tools for solving economic problems. Key learning outcomes include understanding fundamental concepts, proficiency in linear algebra, and enhancing problem-solving skills through practical applications. The course covers topics such as equilibrium analysis, differentiation, and logarithmic functions, supported by reference texts.

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Muhammad Abdul Basit
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4 views

Mathematical Economics

The Mathematical Economics course at the National Defence University aims to equip students with essential mathematical tools for solving economic problems. Key learning outcomes include understanding fundamental concepts, proficiency in linear algebra, and enhancing problem-solving skills through practical applications. The course covers topics such as equilibrium analysis, differentiation, and logarithmic functions, supported by reference texts.

Uploaded by

Muhammad Abdul Basit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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NATIONAL DEFENCE UNIVERSITY

DEPARTMENT OF GOVERNMENT AND PUBLIC POLICY

Course Title: Mathematical Economics

Course Code:

Instructor: Sher Khan

Course Description Detail:

Mathematical Economics is an introductory course that provides students with the essential
mathematical tools and techniques frequently used to solve problems in economics. The
course aims to build a strong mathematical foundation to aid students in developing
analytical skills required to solve economic problems. The course will introduce students to
derivative, differentials and integration and their use in economics.

Learning Outcomes:

1. Fundamental Concepts: Gain a solid understanding of limits, sequences, and series, which
are foundational for advanced economic modeling.

2. Linear Algebra: Develop proficiency in matrix algebra and systems of linear equations,
crucial for understanding economic relationships.

3. Modeling Economic Scenarios: Use mathematical models to represent and analyze


economic behaviors and decision-making processes.

4. Problem-Solving Skills: Enhance critical thinking and problem-solving abilities through


practical applications of mathematical theories in economics.

Text and Reference Books:


1. Theory and Problems of Introduction to Mathematical Economics, 3 rd Edition. Edward T.
Dowling

2. Fundamental Methods of Mathematical Economics 4 th Edition: Alpha C. Chiang and Kevin


Wainwright
COURSE OUTLINE:

Topics Lecture Activity/ PPTs


Class-1 Topic Class-2 Topic Activity-1 Activity-2
1 Introduction to Economic Applications of Lecture Lecture
mathematical economics Graphs and Equations
Iso cost lines,
Functions and its types Supply and demand
of linear Income determination
Functions/equations models
Limits and continuity IS-LM Analysis
The nature of
comparative statics
(Alpha C Chiang 124)

2 Equilibrium Analysis in Linear models and Lecture Lecture


Economics (Alpha C matrix algebra
Chiang)
3 Matrices Determinants of Lecture Lecture
matrices
4 Properties of Row and column Lecture Lecture
determinants operation
5 Invasion method Cramer’s Rule Lecture Lecture

6 Functions Inverse function and Lecture Lecture


Types of functions logarithmic

7 Introduction to limits Limits of functions Lecture Lecture


Rate of change of Limits laws
tangent curve

8 One side limit Continuity Lecture Lecture


Finite and infinite limit
9 Mid Term
10 Rules of differentiation  Product rule Lecture Lecture
 Constant  Quotient rule
function rule
 Sum and
difference rule

11 Rules of differentiation Rules of Lecture Lecture


 power function differentiation
rule  Chain rule
 Power function
rule generalized

12 Implicit differentiation Exponential and Lecture Lecture


logarithmic functions
 The nature of
exponential
functions
 Simple
exponential
function

13  graphical form Logarithms Lecture Lecture


 generalized  The meaning of
exponential logarithms
function  common log
 a preferred base  natural log

14 rules of logarithms Derivative of exponential Lecture Lecture


 an application and logarithmic
functions
15 Rules of differentiation  Partial derivative Lecture Lecture
Introduction to Partial  Techniques of
differentiation partial
differentiation

16 Cont:  Introduction to Lecture Lecture


 Geometric Differentials
interpretation of  Differentials and
partial derivatives
derivatives

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