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421 Mathematical Economics Reference #16620 Fall 1999 Class meets in Rm 214 Royall Hall at 2:30pm TTr
Professor Karen S. Vorst
202H Geosciences -- Office Phone: 816-235-2838
Office Hours: Tuesdays and Thursdays, 2:00-3:00 p.m., or by appointment
1. Texts:
Alpha C. Chiang, Fundamental Methods of Mathematical Economics, Third Edition, McGraw-Hill
(New York, 1984). [required] "C"
Edward T. Dowling, Theory and Problems of Mathematics for Economists, Schaum Outline Series,
McGraw-Hill (New York, 1980). [optional] "S"
2. Purpose:
To familiarize the student with basic mathematical methods as applied to the questions addressed by
economists. The principal methods to be analyzed are matrix (or linear) algebra, and differential calculus. Other
topics may include integral calculus, differential equations, difference equations and linear programming. It is
assumed that the student has taken the prerequisites for the course: Economics 301 or 302,
and Math 210 (Calculus) or QA 220.
3. Grades:
Grades will be determined on the basis of a weighted average of the student's performance on three
one hour exams, homework, and a two hour comprehensive final. All tests are open book and open notes.
The weights are:
Homework .15 Second test .20 Final .30 First test .15 Third test .20
4. Miscellaneous: Homework is to be handed in on time for full credit, since we review the homework during the session after it is due. No late homework will receive a grade higher than the lowest grade of those handed in on time. For each class period lag in turning in home-work, an additional penalty of 10% of the total points for the assignment will automatically be assessed. Home-work must be legible, and all steps necessary for solution must be included. No extra credit is allowed. It is my policy to give make-up exams only under extreme circum-stances. Solved problems are provided at the end of each chapter of S, and for selected problems in C at the end of the text. ECON 421/521 COURSE SYLLABUS 5. Course Outline: (to be viewed as approximate)
| Subject | Readings | Class Periods | Homework |
| Review |
C: chs. 1-3 S: chs. 1,2 | 2 |
C: Ch. 3: Section 3.2, # 2 and 4; Section 3.3, # 2 and 6; Section 3.4, # 1; Section 3.5, #2 (14 pts. total) |
Matrix Algebra I | C: ch. 4 S: ch 10 | 2.5 |
C: Ch. 4: Section 4.2, # 2 and 7; Section 4.3, #2, 4, and 6; Section 4.4, # 3 and 4; Section 4.5, #2; |
Matrix Algebra II |
C: ch. 5 S: chs. 11, 12.6 | 2.5 |
C: Ch. 5: Section 4.6, # 3 and 6 (34 pts. total) Section 5.1, #1 and 3; Section 5.2, #4; Section 5.3, #2 and 4; Section 5.4, #4; Section 5.5, #1 and 3; Section 5.6, #2; (52.5 pts. total) |
| Subject | Readings | Class Periods | Homework |
| Differential Calculus: |
C: chs. 6-8 S:chs.3,4,5. 1-5.6,12.1 | 4 | C: Ch. 6: Section 6.2, #2; Section 6.4, #2 and 4;Section 6.6, #2; Section 6.7, #4 and 5 (14 pts. total)Ch. 7: Section 7.1, #2; Section 7.2, #2, 5, and 6; Section 7.3, #2, 4, and 6; Section 7.4; #2 and 4 Section 7.5, #2; Section 7.6, #2 (29 pts. total) Ch. 8: Section 8.1, #2 and 4; Section 8.2, #3; Section 8.3, #3; Section 8.4, #2 and 6; Section 8.5, #1, 3 and 7 (25 pts. total) |
| Optimization I: | C: chs. 9,10 S: chs. 7-9 | 5 |
C: Ch. 9: Section 9.2, #2 and 4; Section 9.3, #2 and 4; Section 9.4, #3 and 6; Section 9.6, #1 and 2 (33 pts. total) Ch. 10: Section 10.1, #3 and 4; Section 10.2, #3 and 4;Section 10.3, #2 and 4; Section 10.4, # 3 and 6; Section 10.5, #3; Section 10.6; #2;Section 10.7, #2 (33 pts. total) |
| Optimization II: | C: chs. 11,12 S: chs. 5.7-5.9,6.5-6.7 12.2-12.7 | 7 |
C: Ch. 11: Section 11.2, #2 and 5; Section 11.3, #4 and 5; Section 11.4, #2 and 4; Section 11.5, #4; Section 11.6, #2 and 3; Section 11.7, #2 and #4 (50 pts. total) Ch. 12: Section 12.2, #2 and 3; Section 12.3, #2 and 4;Section 12.4, #8; Section 12.5, #2 and 5 (25 pts. total) Section 12.6, #3 and 6; Section 12.7, #3 and #5 |