Office hours: Thursday, 9:00-10:30 AM or by appointment. Buchanan Hall, F.A. Hayek program office, D137-7.
Course objectives
The objective of this course is to introduce the student to some fundamental mathematical tools for economic analysis. The class will mostly focus on the application of this tool to basic microeconomic analysis.
Required Readings
Textbooks:
Sydsaeter, K. et al. (2016). Essential mathematics for economic analysis (5th edition). London: Pearson.
Instructor's notes:
I have prepared detailed weekly notes (available at the links below) with step-by-step derivations of all the main proofs and models that we will cover in class. They will help you both follow the lecture and prepare for homework and examinations. As all human endeavors, the notes will likely contain mistakes. If you happen to find one, please let me know so that I can correct fix the Author files.
Outline of the course
Week 1
Introduction & course overview. Basic algebra. Miscellaneous. Readings: Sydsaeter, chs 1, 2.
Week 2
Equations. Readings: Sydsaeter, ch 3.
Week 3
Univariate functions. Readings: Sydsaeter, ch 4.
Week 4
Properties of functions. Readings: Sydsaeter, ch 5.
Week 5
Differentiation. Readings: Sydsaeter, ch 6.
Week 6
Applications. Readings: Sydsaeter, ch 7. ***First homework due***
Week 7
Optimization. Readings: Sydsaeter, ch 8.
Week 8
Midterm.
Week 9
Multivariate functions. Readings: Sydsaeter, ch 11.
Week 10
Comparative statics. Readings: Sydsaeter, ch 12.
Week 11
Multivariate optimization. Readings: Sydsaeter, ch 13.
Week 12
Constrained optimization. Readings: Sydsaeter, ch 14.
Week 13
Consumer behavior. Utility maximization. General equilibrium with no production. Derivation of the law of demand. ***Second homework due***
Week 14
Final.
Other important dates