KUK - LMS

Syllabus

MODULE NO / UNIT	COURSE SYLLABUS CONTENTS OF MODULE	NOTES
Course Code: M-BECOE-046 Course Name: Group 1 - Quantitative Economics) - Mathematical Economics-II
1	Factor Pricing and Multi-market Equilibrium Pricing of factors of production; Product exhaustion theorems; Multi-market equilibrium - pure exchange, production and exchange, the numeraire and money; Existence, stability and uniqueness of general equilibrium. Reading List • Allen, R.G.D. (1972). Mathematical Economics. Macmillan, London. • Allen, R.G.D. (2002). Mathematical Analysis for Economists. Macmillan Press and ELBS, London. • Chiang, A.C. (2005). Fundamental Methods of Mathematical Economics. McGraw Hill, New York. • Ghatak, A. (1994). Macroeconomics: A Mathematical Approach. Concept Publishing Company, New Delhi. • Henderson, J. M. & Quandt, R.E. (2003). Microeconomic Theory: A Mathematical Approach. McGraw Hill, New Delhi. • Koutsoyiannis, A. (1979). Modern Microeconomics. Macmillan Press, London. • Sen, A. (1999). Microeconomics: Theory and Applications. Oxford University Press. • Varian, H. (2006). Microeconomic Analysis. W.W. Norton, New York.
2	Welfare Economics Pareto Optimality; The efficiency of perfect and imperfect competition; The external effects in consumption and production; Social welfare functions- The Arrow impossibility theorem; The Theory of Second Best. Reading List • Arrow, K. J. & Intrilligator, M. (Eds.). (1987). Handbook of Mathematical Economics (Volumes I, II and III). North Holland, Amsterdam. • Henderson, J. M. & Quandt, R.E. (2003). Microeconomic Theory: A Mathematical Approach, McGraw Hill, New Delhi. • Koutsoyiannis, A. (1979). Modern Microeconomics, Macmillan Press, London. • Madnani, G.M.K. (2001). Mathematical Economics: A Mathematical Approach to Microeconomic Theory. Oxford & IBH Publishers. • Varian, H. (2006). Microeconomic Analysis, W.W. Norton, New York.
3	Choice Under Uncertainty and Optimization Over Time Problem of choice in situations of uncertainty and risk; Production under uncertainty; Futures market and hedging; Multi-period consumption; Time value of money and project selection criterion. Risk–return trade off. Reading List • Aggarwal, D. R. (2018). Quantitative Methods. Vrinda Publications. • Henderson, J. M. & Quandt, R.E. (2003). Microeconomic Theory: A Mathematical Approach, McGraw Hill, New Delhi. • Mehta, B. C. & Madnani, G. M. K. (2018). Mathematics for Economists. Sultan Chand & Sons. • Varian, H. (2006). Microeconomic Analysis. W.W. Norton, New York. • Vohra, N.D. (2008). Quantitative Techniques in Management. Tata McGraw Hill.
4	Macroeconomic Models Input-output model; National Income models (open & closed); Expected Inflation Augmented Phillips relation; Multiplier-Accelration interaction model; Growth models – Domar, Harrod, John Robinson’s Golden Age Model, Duesenberry’s Optimum Growth Model, Solow, Meade, Kaldor. Reading List • Chiang, A.C. (2005). Fundamental Methods of Mathematical Economics. McGraw Hill, New York. • Dernburg, T. F. & Dernburg, J. D. (1984). Macroeconomic Analysis: An Introduction to Comparative Statics and Dynamics. Addison-Wesley Publishing Company, Philippines. • Ghatak, A. (1994). Macroeconomics: A Mathematical Approach. Concept Publishing Company, New Delhi. • Henderson, J. M. & Quandt, R.E. (2003). Microeconomic Theory: A Mathematical Approach. McGraw Hill, New Delhi. • Jha, R. (2008).Contemporary Macroeconomics Theory and Policy. Willey Eastern Ltd., New Delhi. • Jones, Hywel G. (1978). An Introduction to the Modern Theory of Economic Growth. McGraw Hill-Kogakusha, Tokyo.