Page 4 - DECO403_MATHEMATICS_FOR_ECONOMISTS_PUNJABI

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(SYLLABUS)
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(Mathematics for Economist)

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Objectives
• To aware of students the mathematical aspects of Economics.
• To introduce the concept of interrelation and inter dependency of mathematical Economics.
• To increase understanding of the application of the mathematical properties of Economics.

Sr. Content

No.

1 Types of Functions: constant function, polynomial functions, rational functions, non-
algebraic function, exponential function, log function, Limits & Continuity

2 Differentiation : Simple, Logarithmic differentiation, Second and higher order

differentiation
3 Differentiation: Partial, Homogeneous function and Euler’s theorem, Economic

Applications of differentiation

4 Maxima and Minima of one variable, Maxima and Minima of two variables,
Constrained Maxima and Minima, Economic Applications of Maxima and Minima

5 Integration : Basic rules of integration, Methods of integration, Integration as a
summation, Definite Integration, Economic Applications of Integration

6 Differential Equations: Introduction, Solution – variable separable case, homogenous
case

7 Matrices : Meaning and types, Transpose, trace of a matrix, Adjoint and inverse of the

matrix, Cramer’s rule, Determinants: Types and properties, Rank of a matrix,
Application of matrices in economics

8 Input – Output analysis, Hawkins – Simon Conditions, Closed Economic Input – Output

analysis
9 Introduction to Linear Programming, Formulation of Linear programming problems,

Graphic methods

10 Linear Programming - Simplex methods