ELEMENTS OF MATHEMATICAL ECONOMICS
First Semester 2011-2012
Dr. Tirso B. Paris, Jr., Professor
Room 3, Economics Department, CEM
10:00-12:00 a.m. 4:00-5:00 p.m. TTh or by appointment Telephone Nos.
536-2505 (office); 536-2528 (home), 0917-323-7294 (cell) Email
TEXTBOOK: Chiang, Alpha C. and Kevin Wainwright. Fundamental Methods of Mathematical Economics, 4rd ed., McGraw-Hill International Edition, 2005.
Introduction [Note: Read Chaps. 1 & 2 on your own]
1, 2 2.
Economic Models and Static Analysis
Elements of Matrix Algebra
Determinants, Singularity, Inverse Matrix and Cramer’s Rule
Comparative Statics and Review of Derivatives
Rules of Differentiation and the Use in Comparative Statics
Differentials, Total Derivatives and Implicit Functions
Comparative Static Analysis of General Models
Optimization Without Constraints: One Choice Variable
Exponential and Logarithmic Functions, Growth Rates
10 12. Optimization of Functions With More Than One Choice Variable
11.1-11.4 13. Economic Applications: Price Discrimination and
Multi-product firm models
14. Constrained Optimization: Utility Maximization and Consumer Demand
12. 1-12.5 15. Homogeneous Functions, Cost Minimization and Elasticity of Substitution
Pre-final grade = Three long exams (85%) + Quizzes and Exercises (15%)
Final Grade = Pre-final grade (60%) + Final Exam (40%)
For students with pre-final grade of 3.0 or better and who have taken all three exams, the final exam is optional. 2. No make-up...
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