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Unit 1 : Economic Models Ingredients of mathematical models variables,
constants, parameters, equations, and identities; Real number system; Sets
and functions; relations and their proper- ties; types of functions; functions
of more than one variables; Limit, sequences and series: convergence, algebraic
properties and applications; continuous functions: characterisation, properties
with respect to various operations and applications; differentiable functions:
characterisation, properties with respect to various operations and applications;
second and higher order derivatives: properties and applications. |
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Unit 2: Equilibrium Analysis in Economics Meaning of equilibrium; partial market equilibrium -
linear and non-linear models; General market equilibrium |
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Unit 3 : Linear Models
and Matrix Algebras and their Applications in Economics Matrix operations, Determinants
and Cramer’s Rule and their applications |
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