Mathematical Economics.

Catalog description

A mathematical analysis of neoclassical theories of production and consumption. This course studies differential calculus and linear algebra applied to unconstrained and constrained extrema, including the envelope properties of optimization problems. Primary emphasis is placed on the application of mathematics to economic theory. Topics include competitive and noncompetitive firms and industries, Cobb-Douglas and CES production functions, the Slutsky equation, and applications of homogeneous functions to economics. Prerequisites: ECON 101 , ECON 103 , MATH 051 or permission of instructor.