Course Info

Course Category

Economics

Course Level

Undergraduate

Credit Hours

3

Prerequisites

N/A

Instructor

Dr. Bilal Mehmood PhD Economics GC University, Lahore


Course Contents

Introduction to Mathematical Economics, Ingredients of a Mathematical Model, Use of Sets in Economics, Use of Functions in Economics, Constant Functions and Linear Functions, Quadratic Functions and Cubic Functions, Rational Functions and Exponential Functions, Logarithmic Functions and Inverse Functions, Equations and Types of Equations, Partial Linear Market Equilibrium, General Equilibrium and National Income Equilibrium, Use of Matrices in Economics, Laws of Operations of Matrices, Determinant and Inverse of Matrices, Matrix Inversion Method, Cramer's Rule in Matrices, Input Output Analysis using Matrices, Concept of Derivative and Rules of Differentiation, Product Rule and Quotient Rule of Differentiation, Cost and Revenue Analysis using Differentiation, Chain Rule and Inverse Function Rule of Differentiation, Use of Partial Differentiation in Economics, Market Model Analysis using Partial Derivatives, Second and Higher Order Derivatives, Partial Derivatives Application on Elasticity and Production Functions, Partial Derivatives Application on Consumer and Producer Theories, Concept of Differentials and their Economic Applications, Use of Total Differentials in Utility Functions and Elasticity, Concept of Total Derivatives, Concept of Implicit Differentiation and their Economic Applications, Exponential Functions and Growth, Use of Logarithms in Economics, Rules of Differentiation of Exponential and Logarithmic Functions, Finding the Rate of Growth using Exponential and Logarithmic Functions, Concept of Optimization, Profit Maximization Analysis, Profit Maximization Analysis (Continued 1), Profit Maximization Analysis (Continued 2), Profit Maximization Analysis (Continued 3), Constrained Optimization Analysis, Utility Maximization Analysis, Homogeneous Production Function, CobbDouglus Production Function, CES Production Function


