SEM 1 - Mathematical-Methods-for-Economics-PART 1

University of Delhi
Department of Economics
Syllabus and Textbook for B. A. (Hons) Economics,
Course 02: Mathematical Methods for Economics I
August 5, 2016
Following the Course 02 meeting on May 4, there has been some confu-
sion regarding the syllabus and textbook for this course. This document is
intended to remove these doubts.
Sudhir A. Shah
(Chairperson)
1 The textbook
It was suggested in the meeting on May 4 that we should transit to a “new
textbook” on the presumption that the proposed new book was a better fit
for the prescribed syllabus. A sub-committee was given the responsibility
of establishing a mapping between the syllabus and the new book. The
sub-committee has reported that the presumption was false. Therefore, it
has been decided to revert to the earlier textbook for this course,
namely
K. Sydsaeter and P. Hammond: Mathematics for Economic Analysis,
Pearson Educational Asia: Delhi (2006)
• Guidance for instructor. The syllabus remains unchanged; it is as

described in Section 2. The chapter and section references are to the
above-mentioned book. The textbook reverts to the above-mentioned
book. The philosophy of the course remains unchanged, as described
in Section 3.
• Guidance for students who have not bought a book. If you

want to buy a textbook, then buy the above-mentioned book.
1
• Guidance for students who have bought “the new book”.
There are only two significant differences between the above-mentioned
book and the one they have bought. The instructor should guide the
students to supplement the book they have bought with Sections 9.6
(Concave and Convex functions) and 20.1 (Difference equations) from
the above-mentioned book.
2 The syllabus
This semester covers Chapters 1-10 and Chapter 20 of the textbook, leav-
ing out Sections 6.7, 10.4 and 20.2-20.5. Note the material on integration
(Sections 10.1-10.3) and difference equations (Section 20.1).
The rough weights attached to the five sections mentioned in the syl-
labus are: I (Preliminaries) has 10% weight, II (Functions of one real vari-
able) has 55% weight, III (Single variable optimization) has 25% weight, IV
(Integration of functions) has 5% weight and V (Difference equations) has
5% weight.1
• Preliminaries. Logic and proof techniques; sets and set operations;

relations; functions and their properties; number systems.
• Functions of one real variable. Graphs; elementary types of func-

tions: quadratic, polynomial, power, exponential, logarithmic; se-
quences and series: convergence, algebraic properties and applications;
continuous functions: characterizations, properties with respect to var-
ious operations and applications; differentiable functions: characteri-
zations, properties with respect to various operations and applications;
second and higher order derivatives: properties and applications.
• Single-variable optimization. Geometric properties of functions:

convex functions, their characterizations and applications; local and
global optima: geometric characterizations, characterizations using
calculus and applications.
• Integration of functions. Areas under curves; indefinite integrals;

the definite integral.
• Difference equations. First order difference equations

1
These weights are only indicative and not ironclad guarantees of the weights attached
to these sections in examinations. The examinations should broadly reflect these weights,
but may vary from them by as much as 10% points.
2
3 Philosophy of the course
1. This is not a “Mathematical Economics” course, but a “Mathe-
matical Methods for Economics” course. The intention is not to
transmit any particular body of economic theory, but to transmit the
body of basic mathematics that enables the creation of economic the-
ory in general. In this course, particular economic models are not the
ends, but the means for illustrating the method of applying mathemat-
ical techniques to economic theory in general. A pedagogical corollary
of this attitude is that economic applications should be chosen as il-
lustrations, not on the basis of their “importance” or “relevance” in
economic doctrine, but on the basis of their appropriateness for illus-
trating particular aspects of mathematical techniques being taught in
this course. (Of course, if pedagogical relevance and substantive doc-
trinal importance coincide in some application, then covering such a
Pareto superior application is recommended.) Classroom instruction
should stress the understanding and skill in the application of math-
ematical theorems and techniques, rather than the mastering of any
particular set of economic applications.
2. Stress should be placed on learning mathematical theorems and tech-

niques and recognizing classes of applications where particular the-
orems and techniques, or their combinations, are applicable and useful.
3. The prescribed textbook defines the level of sophistication of mate-

rial to be transmitted to students and the problems contained therein
indicate the level of difficulty of questions that may be asked in exam-
inations.
4. There is no presumption that examination questions will/can be cho-

sen only from the prescribed textbook. However, the examiner should
ensure that the level of difficulty is at par with the difficulty of prob-
lems in the textbook; the evaluation of “difficulty” is best left to the
prudence and academic judgement of the examiner within the institu-
tional context of examination-setting.
5. Instructors should feel free to draw upon any appropriate supplemen-

tary sources for problems and material that they feel is handled inad-
equately or poorly in the prescribed textbook.
6. Proofs of propositions that are relatively straightforward may be asked

in the examinations. However, questions should not be such as to allow
mere regurgitation of theorems proved in the textbook and memorized
by the students. Ideal questions should test the student’s ability to
understand and correctly apply theorems proved in the textbooks
rather than merely reproduce their proofs.
3
7. Examiners should avoid questions whose solution involve mere mem-
orization of formulae and computation.
8. Questions may require students to apply techniques learned in this

course to applications drawn from economic theory. However, such
questions should be framed with great care. Such questions should
explicitly state the mathematical structure required to derive the
answer, not leave it implicit, assuming that students will be aware
of the economic model in question and the assumptions underlying
it. The examiner may assume that students are mathematically
sophisticated at a level indicated by this course, but there should be
no presumption of economic sophistication or knowledge of economic
doctrine beyond what is taught in the Principles course.
9. Economic applications available in the textbooks and covered in class

should not be assumed to be an exhaustive list of potential applica-
tions that may be used for framing examination questions.
10. There should be no presumption that a particular pattern or style of

the examination will be replicated from year to year. The examiner
shall have latitude to make academically prudent changes subject to
the above-mentioned weightage guidelines.

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University of Delhi

• Guidance for instructor. The syllabus remains unchanged; it is as

• Guidance for students who have not bought a book. If you

• Preliminaries. Logic and proof techniques; sets and set operations;

• Functions of one real variable. Graphs; elementary types of func-

• Single-variable optimization. Geometric properties of functions:

• Integration of functions. Areas under curves; indefinite integrals;

• Difference equations. First order difference equations

2. Stress should be placed on learning mathematical theorems and tech-

3. The prescribed textbook defines the level of sophistication of mate-

4. There is no presumption that examination questions will/can be cho-

5. Instructors should feel free to draw upon any appropriate supplemen-

6. Proofs of propositions that are relatively straightforward may be asked

8. Questions may require students to apply techniques learned in this

9. Economic applications available in the textbooks and covered in class

10. There should be no presumption that a particular pattern or style of

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