Syllabus
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Course Code: CC-5 IN-ECX-301 Course Name: Mathematics for Economics-I |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | (i-a) Concepts of set, elementary set operations, laws of set operations, Number of elements in a set, applications of sets (i-b) Functions, limits & continuity: Types of functions, Factors, Substitution and rationalization Methods, continuity and discontinuity of functions; |
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| 2 | (ii-a) Matrices-types, addition, multiplication of Matrices, Inverse of matrix, Cramer’s rule and matrix inverse method, (ii-b) Applications of matrices in economics, Input-output analysis; more on matrices (vectors, quadratic forms, Eigen roots and Eigen vectors) |
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| 3 | (iii-a) Differentiation, simple derivatives, higher order derivatives of one variable, their economic applications. Partial total derivatives, double order partial derivative, economic applications; (iii-b) Maxima & minima of functions: necessary and sufficient conditions for functions, economic application of unconstrained & constrained maxima & Minima. |
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| 4 | (iv-a) Linear Programming: Graphical and Simplex method, Dual Problem in linear programming (iv-b) , Game Theory: odd moments method, principle of dominance & simplex method, Prisoner’s dilemma in game theory, concept of Nash Equilibrium. |
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