ANU - STUDYAT - Maths for Economists A

Offered By:

School of Economics

Academic Career:

Undergraduate

Course Subject:

Economics

Offered in:

First Semester, 2010

Unit Value:

6 units

Course Description:

The course will start with a brief review of graphs and functions used in economic theory, calculus of a single variable, vectors, matrices and determinants. It will then examine partial derivatives and total derivatives; comparative statics; concavity and convexity; unconstrained maximisation/minimisation; maximisation/minimisation subject to constraints; the implicit function theorem and the envelope theorem; and the Kuhn-Tucker theorem and conditions. Throughout the course, the usefulness of these concepts and techniques will be illustrated by applications to theoretical economic analysis.

Learning Outcomes:

After taking the course ECON2125 or ECON8013 students are able to understand basic techniques of mathematical economics. These include differential and integral calculus, basic linear algebra, finite mathematics (sets, relations and functions) and their applications in economics (marginal utilities, finding maxima and minima of functions, etc...). They are able to graph functions, to understand arguments and simple formal proofs and to analyse economic problems of intermediate complexity using the mathematical necessary tools.

Indicative Assessment:

Mid-semester and semester examinations.

Workload:

Two lectures and one tutorial per week.

Areas of Interest:

Economics

Requisite Statement:

ECON1101 Microeconomics 1, and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), and ECON2015 Optimisation Techniques for Economists or 70% or better in EMET1001 Foundations of Economic and Financial Models

Preliminary Reading:

Preliminary reading should be unnecessary for students who have completed Fundamentals of Economic and Financial Modelling recently and who have a firm understanding of this material. However, students without a solid knowledge of graphs and functions used in economic theory, calculus of a single variable and vectors, matrices and determinants should review Dowling, E.T., Schaum's Outline: Introduction to Mathematical Economics, Ch 1-4 & 7-11, McGraw Hill, 1992.

Other Information:

For further information please refer to the Course Website

Mathematics for Economists A ECON2125 - Details