Basic Mathematics for Economic Analysis | Syllabus 

Unit 1
Economic Models
Ingredients of mathematical models - variables, constants, parameters, equations, and identities; Real number system; Sets and functions; relations and their properties; types of functions; functions of more than one variable
Reference: Chapter 2; Chiang, A and Wainwright, K. (2005). Limit, sequences, and series: convergence, algebraic properties, and applications;
Reference: Chapter 6 (4.4,6.1,6.4,6.5,6.6); Sydsaeter, K., Hammond, P. (2002). Continuous functions: characterization, properties with respect to various operations and applications; Differentiable functions: characterization, properties with respect to various operations and applications; second and higher order derivatives: properties and applications.
Reference: Chapter 6 (6.1,6.2); Sydsaeter, K., Hammond, P. (2002). Chapter 6, Chapter 7(7.1,7.2,7.3,7.5(only market model)); Chiang, A and Wainwright, K. (2005)


Unit 2
Equilibrium Analysis in Economics
Meaning of equilibrium; partial market equilibrium - linear and non-linear models; General market equilibrium 
Reference: Chapter 3(3.1,3.2,3.3,3.4-deemphasize n-variable case & its solution); Chiang, and Wainwright, K. (2005).


Unit 3 
Linear Models and Matrix Algebras and their Applications in Economics
Matrix operations, Determinants, and Cramer’s Rule and their applications 
Reference: Chapter 4(except 4.7), Chapter5(5.1-5.6(only market models)); Reference: Chapter 3(3.1,3.2,3.3,3.4-deemphasize n-variable case & its solution); Chiang, and Wainwright, K. (2005).

Assessment
1. Semester-end Examination: 90 marks
There will be three Sections in the question paper with varying degrees of difficulty.
• Question can be asked from any unit.
• There will be only two sub-sections in each question, e.g. 2+8, 5+5, etc. • Section A: 40 Marks (4*10=40, Students will attempt any 4 out of 6) • Section B: 30 Marks (3*10=30, Students will attempt any 3 out of 4) • Section C: 20 Marks (2*10=20, Students will attempt any 2 out of 3)

2. Internal Assessment (IA): 30 marks
• Two class test (12 marks each), and
• 6 marks for attendance.

3. Continuous Assessment (CA): 40 marks
• 1 Class test for 10 marks
• At least 2 quizzes, adding up to total 25 marks.
• 5 marks for attendance.