[ Home ] [ Auction ] [ Bargaining ] [ Other ] [ Album ] [ Courses ] [ Links ] [ Vita ] [ Workshop ]

Economics 300: Methods and Tools of Economic Analysis [Syllabus]

Tuesday and Thursday, 11:00 to 11:50 am, Armory 0131, Spring 2008

The methodology of economics employs mathematical and logical tools to model and analyze markets, national economies, and other situations where people make choices. Understanding of many economic issues can be enhanced by careful application of the methodology, and this in turn requires an understanding of the various mathematical and logical techniques. The course reviews concepts and techniques usually covered in algebra, analytical geometry, and the first semester of calculus. It also introduces the components of subsequent calculus and linear algebra courses most relevant to economic analysis. The reasons why economists use mathematical concepts and techniques to model behavior and outcomes are emphasized throughout.

The course will meet three times a week, twice for lectures and once in discussion section conducted by a teaching assistant. Lectures will expand on material covered in the text, stressing the reasons why economists use math and providing additional explanation of formal mathematical logic. Discussion sections will demonstrate solutions for problems, answer questions about material presented in the lectures or book, and focus on preparing students for exams. Students should be prepared to devote 3-4 hours per week outside class meetings, primarily working on problem sets as well as reading and reviewing the text, additional reading assignments, and class notes.

Course Objectives: Each student should be able by the end of the semester to:
• Recognize and use the mathematical terminology and notation typically employed by economists
• Explain how specific mathematical functions can be used to provide formal methods of describing the linkages between key economic variables
• Employ the mathematical techniques covered in the course to solve economic problems and/or predict economic behavior
• Explain how mathematical concepts enable economists to analyze complicated problems and generate testable hypotheses

First Lecture Notes

Chapter 1: Introduction

Chapter 2: Functions

Chapter 3: Exponential and Logarithmic Functions

First Problem Set

PS#1: Do questions 2.1.2, 2.1.8, 2.2.8, 2.2.10, 2.3.2 and 2.3.12 from Klein chapter 2. Problem set is due on 2/8.