B.A. Economics
7th Semester Syllabus
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MJC-13 : Advanced Quantitative Methods
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Unit 1: Integration
◦Concept and Methods of Integration
◦Integration by Substitution
◦Integration by Transformation & Integration by Parts
◦Application of Integration in Economics
Unit 2: Functions of Several real Variables
◦Technique of Partial Differentiation
◦Second Order Partial Derivatives
◦Cross Partial Derivatives
◦Applications of Partial Derivatives in Demand
◦Utility and Production Analysis
◦Technique of Total Differentials
◦Second order Total Differentials
◦Derivatives of Implicit Functions
Unit 3: Multi-Variable Optimization
◦Maxima and Minima of a Function of two or more than two Variables
◦Hessian Determinants
◦Unconstrained Optimization and Constrained Optimization with Equality Constraints
◦Use of Lagrange Multiplier
◦Applications of Unconstrained and Constrained Optimization in Economics
◦Equilibrium of Firm under Pure Competition
Unit 4: Linear Algebra
◦Basic Concepts of Vector
◦Types of Vector
◦Addition of Vectors
◦Scalar Product of Two Vectors
◦Matrix and Determinants: Types of Matrices
◦Addition and Subtraction of Matrices
◦Multiplication of two Matrices
◦Transpose and Inverse of a Matrix
◦Rank of a matrix
◦Determinant and its Properties
◦Solution of Simultaneous Equation Models
Unit 5: Linear Programming, Input Output Model and Game Theory
◦Introduction to linear programming
◦Formulation of linear programming problem
◦Concept of duality
◦Solution of linear programming trough graphical method
◦Input-output analysis-meaning and basic concept
◦Game theory-concepts
◦Strategies-dominant strategy
◦Saddle point
◦Zero-sum game
Unit 6: Correlation, Regression and Time Series Analysis
◦Partial and Multiple Correlation
◦Partial and Multiple Regression
◦Time Series Analysis: Components of Time Series and Measurement of Trends
Reference Books:
- Jay L. Devore, Probability and Statistics for Engineers, Cengage Learning, 2010.
- John E. Freund, Mathematical Statistics, Prentice Hall, 1992.
- Gupta S.P, Statistical Methods, S.Chand & Sons, New Delhi.
- Richard J. Larsen and Morris L. Marx, An Introduction to Mathematical Statistics and its Applications, Prentice Hall, 2011.
- K. Sydsaeter and P. Hammond, Mathematics for Economic Analysis, Pearson Educational Asia: Delhi, 2002.
- Monga, G.S. (1972), Mathematics and Statistics for Economists, Vikas Publishing House, New Delhi.
- Chiang, A.C. (1988), Fundamental Methods of Mathematical Economics, Mac Graw Hill, New York.
- Allen, R.G.D. (1974), Mathematical Analysis for Economists, Mac Millian Press and ELBS, London.
- Dowling, E.T. (1992), Mathematical Economics 2nd Edition, Mac Graw Hill, New York.
- Yamune, Taro (1975) Mathematics for Economists, Prentice Hall of India, New Delhi.