Mathematical Economics
Econ. 4106

This course will introduce you to applications of basic mathematical techniques to economic theory. In particular, you will learn how mathematical tools can enable you to understand, extend, and generalize theories that you are familiar with from your intermediate level courses, and to draw more precise conclusions. The topics covered in the course include theories of consumer choice, production and costs; models of various market structures; macro models of closed and open economies; models of growth, general equilibrium, welfare economics, and some material from courses such as money, labour, public finance, development, etc. While major part of the course is devoted to understanding and reviewing the existing models, a significant part of the coursework will also involve learning to formulate and solve some simple models of your own.

This is a seminar course designed for honours students planning to pursue graduate studies in economics at another university. In order to successfully complete this course, you must have completed courses in introductory calculus (Math 1013 and 1023) and intermediate level Micro and Macro (Micro I and II and Macro I and II). I also strongly recommend that you complete a course in linear algebra and a course in intermediate calculus for a smoother sailing in graduate programs.

The course will be organized as lecture and/or discussion classes as appropriate to the material. Your assignments will consist of exercises and reviews of appropriate literature on the subject. Your assignments will be due in two weeks from the day you receive them. In your major essay, you will be expected to choose a particular theory from the field of your choice, review and critique the relevant literature on that theory, and present to the class. Assignments and essays that are not submitted on the due dates will not be graded, except for a reasonable cause. While, I expect you to be familiar with relevant mathematical tools and economic theory, I will briefly review and discuss the tools/theories as necessary to facilitate your understanding.

Textbook:

It is difficult to find a textbook for this course that meets our all requirements. However, we will use Mathematical Economics by Jeffrey Baldani, James Bradfield, and Robert Turner (Harcourt Brace, 1996) as the basic text. We will supplement the material covered in this book from a variety of sources including A mathematical Treatment of Economics by G.C. Archibald and R.G. Lipsey, Macroeconomics: An Introduction to Advanced Methods by William Scarth, and The Structure of Economics: A Mathematical analysis by Eugene Silberberg, and some mathematics oriented journal articles. Other readings will be assigned in class as appropriate.

Evaluation:

Biweekly Assignments (ten best, five each term): 30 marks
Mid-terms: 30 marks
Finals: 30 marks
Essay : 10 marks

WELCOME TO MATHEMATICAL ECONOMICS...


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