Advanced Mathematical Methods for Economics

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The Advanced Mathematical Methods for Economics – I (ECON 009) Course for BA (Hons) Economics Semester III, UGCF 2024, Delhi University has been taught by Mr. Dheeraj Suri. The Video Lectures are based upon the books prescribed by the University of Delhi. The Duration of Video Lectures is approximately 50 Hours.

Course Fee : Rs. 7,000

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till end of Semester III Exams.

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  • Full Course Video Lectures
  • Complete Study Material (PDF Notes) which includes Concepts, Previous Year Questions, Numerical Questions, MCQ’s and Important Questions
  • Online Discussion Forum to Post Your Queries to Discuss with Faculty & other fellow Students
  • Live online Doubts Sessions (at least twice a week) for resolution of Doubts
  • Mock Tests at the Website
  • Video Lectures Cover Theory Portions Exchaustively + Complete Solutions of Back Questions of readings + Solutions of Previous Years Papers + Large Number of Numericals

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Demo Lectures

Demo PDF of Study Material

Chapter-1-Constrained-Optimisation

Exam Pattern

The Question Paper of 90 Marks

Course Content of Our Video Lectures

Lectures are as per Latest Syllabus for UGCF 2024

Unit I : Multivariate Optimization with Constraints

Chapter 1 : Constrained Optimization

Duration of Video Lectures : 752 Minutes

Number of Video Lectures : 23

Based Upon Topics of Chapter 18 from Sydsaeter K., Hammond P.

Topics Covered

►Two Variable One Equality Constraint,

►The Lagrange Multiplier Method,

►Necessary & Sufficient Conditions,

►More General Lagrangean Problems,

►Economic Interpretations of Lagrange Multipliers,

►Envelope Results,

►Non Linear Programming,

Unit II : Linear Programming

Chapter 2 : Linear Programming

Duration of Video Lectures : 263 Minutes

Number of Video Lectures : 8

Based Upon Topics of Chapter 19 from Sydsaeter K., Hammond P.

Topics Covered

►Formulation of a Linear Programming Problem,

►Graphical Approach to Simple LP Problems,

►Introduction to Duality Theory,

►The Duality Theorem,

►A General Economic Interpretation,

►Complementary Slackness,

Unit III : Integration, Differential Equations, and Difference Equations

Chapter 3 : Integration

Duration of Video Lectures : 252 Minutes

Number of Video Lectures : 8

Based Upon Topics of Chapter 10 from Sydsaeter K., Hammond P.

Topics Covered

►Indefinite Integrals,

►Some Special Integrals,

►Definite Integrals, The Riemann Integral,

►Properties of Definite Integrals,

►Economic Applications of Integrals,

►Area Under the Curve using Integrals,

Chapter 4 : Difference Equations

Duration of Video Lectures : 120 Minutes

Number of Video Lectures : 3

Based Upon Topics of Chapter 20 from Sydsaeter K., Hammond P.

Topics Covered

►First Order Difference Equations,

►Second Order Difference Equations,

►Equilibrium & Stability,

Chapter 5 : Differential Equations

Duration of Video Lectures : 298 Minutes

Number of Video Lectures : 9

Based Upon Topics of Chapter 21 from Sydsaeter K., Hammond P.

Topics Covered

►First Order Differential Equations,

►Separable Differential Equations,

►First Order Linear Differential Equations,

►Bernoulli’s Equations,

►Ricati’s Equations,

►Stability & Phase Diagrams,

►Second Order Differential Equations,

Syllabus Prescribed by DU

DISCIPLINE SPECIFIC CORE COURSE -9 (DSC-9) : Advanced Mathematical Methods for Economics

Course Description

Learning Objectives

This is the last of a compulsory three-course sequence. The Learning Objectives of this course are as follows:

  • To transmit the body of basic mathematics that enables the study of economic theory at the
    undergraduate level, specifically the courses on microeconomic theory, macroeconomic theory,
    statistics and econometrics set out in this syllabus.
  • In this course, particular economic models are not the ends, but the means for illustrating the method of applying mathematical techniques to economic theory in general.

Learning outcomes

The Learning outcomes of this course are as follows:

  • The course builds the skills for mathematical foundations necessary required further study of a variety of disciplines including postgraduate economics, statistics, computer science, finance and data analytics.
  • The analytical tools introduced in this course have applications wherever optimization techniques
    especially constrained optimization are used in business decision-making for managers and
    entrepreneurs alike.
  • These tools are necessary for anyone seeking employment as an analyst in the corporate world.

Syllabus

UNIT I: Multivariate Optimization with constraints (15 hours)
Constrained optimisation with equality and inequality constraints: geometric characterisation, Lagrange
characterisation using calculus and applications; properties ofvalue function: envelope theorem, applications.
UNIT II: Linear programming (15 hours)
Introduction, graphical solution, matrix formulation, duality, economic interpretation.
UNIT III: Integration, differential equations, and difference equations (15 hours)
Definite integrals, indefinite integrals and economic applications; first order and second order difference
equations, equilibrium and its stability; first order differential equations, phase diagrams and stability;
second order differential equations.

Recommended readings

  • Sydsaeter, K., Hammond, P. (2002). Mathematics for economic analysis. Pearson Educational.
  • Hoy, M., Livernois, J., McKenna, C., Rees, R., Stengos, T. (2001). Mathematics for Economics,
    Prentice-Hall India.

Economics (H) Semester III [ UGCF 2024 ]

Video Lectures, PDF Notes, Mock Tests & Live Doubt Sessions are offered for the following Subjects for BA (Hons) Economics Semester III, Delhi University

Economic History of India (ECON 031)

Fiscal Policy & Public Finance in India (ECON 034)

Theory of Public Finance (ECON 061)

Money & BankingI (ECON 062)

Introduction to Comparative Economic Development (ECON 064)

Principles of Microeconomics – II (ECON 027)

Differential Equations

LPP & Game Theory

Statistics