# Mathematical Economics

Por: Swayam . en: ,

## Overview

Welcome Dear Learner!

It is a pleasure to welcome you to the course Mathematical Economics.This course has been designed to make the study of Economics using Mathematics simple and easy to understand.
• Apart from Economics, this course will be beneficial to solve problems in Engineering, Architecture, Medicine, Finance, Management, Policy-making and Analytics.
• A historical background and widespread applications of the concepts and topics makes it interesting and exciting.
• It uses real-life examples and recent researches and news on the world economy.
• In the reference section, several web links and links of YouTube channels have been shared to keep you amazed and motivated throughout.
• Videos are supported by animations, graphics and pictures so that the concepts of every topic covered becomes clear and easy to remember.
Objectives of the Course:
• Do you want to learn how to take quick and wise decisions?
• Do you want to learn the art of scientific thinking, logical thinking and critical thinking so that you can use them in your daily economic activities?
• Do you want to save your time, money and energy?
If you want to find an answer to all the above questions and if you wish to make your life simple, easy and interesting to live, this course is just for you!

Outcomes of the Course:
After completing this course, you will have learnt:
• How to build models by expressing words in symbols, numbers and equations
• New techniques to solve complex problems
• To measure the effect of change and discover techniques to improve your decision-making process
• Economic dynamics and solve problems through adjustments with time.
• A new dimension of scientific, logical and critical thinking, that will assist your mind to solve personal, professional and social problems and guide you to take wise decisions
Pre-requisites:
• Elementary knowledge of Economics
• Elementary knowledge of Mathematics
Instructors:

Guest Speakers:
Prof. (Retd.) Srinath Baruah, Gauhati University, Guwahati
Prof. (Retd.) P. K. Chaubey, IIPA, New Delhi

## Syllabus

### COURSE LAYOUT

Week 1 Module 1: Number Systems and Set TheoryModule 2: FunctionsModule 3: Problems and Solutions
Week 2 Module 4: Model- An IntroductionModule 5: Economic ModelsModule 6: Problems and Solutions
Week 3 Module 7: Concept of UtilityModule 8: Partial Equilibrium Market ModelModule 9: Problems and Solutions
Week 4 Module 10: Matrix- An IntroductionModule 11: Matrix Algebra and Linear ModelsModule 12: Concepts in Matrix Algebra and Matrix MethodsModule 13: Problems and Solutions
Week 5 Module 14: Matrix and Market ModelModule 15: Matrix and National Income ModelModule 16: Problems and Solutions
Week 6 Module 17: Input-Output Analysis-An IntroductionModule 18: Open and Closed Input-Output ModelModule 19: Problems and Solutions
Week 7 Module 20: Differentiation-An IntroductionModule 21: Optimization: Maxima and MinimaModule 22: Problems and Solutions
Week 8 Module 23: Linear Programming- An IntroductionModule 24: Solution to LP-Graphical MethodModule 25: Dual and its interpretationModule 26: Problems and Solutions
Week 9 Module 27: Integration- An IntroductionModule 28: Applications to Economic Theory
Week 10 Module 29: Differential Equations-An IntroductionModule 30: First Order Linear Differential Equations
Week 11 Module 31: Exact Differential Equations
Week 12 Module 32: Applications of Differential Equations in EconomicsModule 33: Problems and Solutions
Week 13 Module 34: Difference Equations- An IntroductionModule 35: First Order Difference EquationsModule 36: Second Order Difference Equations
Week 14 Module 37: Applications of Difference Equations in EconomicsModule 38: Problems and Solutions
Week 15 Module 39: Computational Economics-An IntroductionModule 40: Computational Solution Tools