AP/ECON 1540 (3.00)

Introductory Mathematical Economics II

Description

This course extends the analysis of basic Economics ideas, topics and problems begun in AP/ECON 1530 3.00. Again, relevant mathematical ideas and techniques are recalled and/or derived so as to provide a deeper understanding of Economic issues and how they can be resolved. The issues and problems covered require functions of more than one variable for their resolution. The notion of Quantity Supplied is combined with the notion of Quantity Demanded and notions of Market Equilibrium are introduced and discussed. Equilibria are evaluated through the introduction of mathematical notions and properties of systems of equations, eventually in matrix form. A deeper understanding of theories of demand (supply) and the foundations of demand (supply) functions is developed through the introduction of mathematical notions of unconstrained and constrained optimization and linear and nonlinear programming. As in AP/ECON 1530 3.00, many topics and issues are addressed and problem framing and problem solving abilities are enhanced. Prerequisite: AP/ECON 1530 3.00 or equivalent. Prerequisites or corequisites: AP/ECON 1000 3.00 or AP/ECON 1010 3.00, or equivalent. No Credit Retained (NCR) Note: Students who have successfully completed or who are currently enrolled in SC/MATH 1021 3.00, SC/MATH 1025 3.00, or SC/MATH 2221 3.00. SC/MATH 1510 6.00 and SC/MATH 1520 3.00 may not be taken by any students who has passed or is currently taking AP/ECON 1540 3.00. Course credit exclusions: SC/MATH 1505 6.00, SC/MATH 1540 3.00, SC/MATH 1550 6.00, GL/MATH 2650 3.00, GL/MODR 2650 3.00. Note: Acceptable course substitutes are available in the Calendar.

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