Mathematical Methods: Track-2

Semester and Year Offered: Monsoon Semester, First year

Course Coordinator and Team: Rajendra Prasad Kundu

Email of course coordinator: rajendra@aud.ac.in

Pre-requisites:

The knowledge of undergraduate mathematical methods used in Economics is expected from students.

Course Objectives/Description:

The construction and criticism of models is central to the practice of economics and the vast majority of economic models are presented in the language of mathematics. The empirical testing of economic ideas too is based on mathematics in the form of mathematical statistics. This course introduces students to the application of linear algebra in Economics research.

Course Outcomes:

Brief description of modules/ Main modules:

• Vector spaces.
• Linear independence.
• Bases.
• Matrices and linear transformations.
• Solution of system of linear equations.

Assessment Details with weights:

Presentation 20%, Paper review 40%, Class test 40%

Reading List:

1. Mukherji, A. and Guha, S. (2010), Mathematical Methods and Economic Theory, Oxford University Press.
2. Simon, C. P. and Blume, L. (1994). Mathematics for Economists. W. W. Norton & Company
3. Strang, G. (2016). Introduction to Linear Algebra, 5th ed., Wellesley Cambridge Press
4. Ricardo, H. (2010). A Modern Introduction to Linear Algebra, CRC Press

Additional readings will be provided during the course.