• Expansion of Functions: Maclaurin and Taylor series.
  • Optimization: Optimum values and extremum values, relative extrema, 1st & 2nd derivative test, n-th derivative test. Optimization of multivariable functions; the differential version, quadratic forms, optimization with equality constraints-the Lagrange multiplier. (Examples from health sector)
  • Elementary Linear Algebra: Matrices and vector, matrix operations, identity matrix, null matrix, transposes, determinants, non-singularity, minors, co-factors, adjoint matrix, inverse matrix, Cramer’s rule, Jacobian, Hessian. (Examples from health sector)
  • Economic Dynamics and Integral Calculus: Dynamics and integration, rules of integration, indefinite and definite integral, integration by substitution and by parts; area under a curve, improper integral, some economic applications of integral, Domar growth model. (Examples from health sector)
  • Continuous Time: First Order Differential Equation: First order linear differential equations dynamics of market price, exact differential equation, Solow growth model.
  • Discrete Time: First Order Difference Equations: Discrete time, difference, difference equations, solving a first order difference equation, the dynamic stability of equilibrium, the Cobweb model.

 

  1. Fundamental Methods of Mathematical Economics, 4th Edition, Alpha C. Chiang and Kevin Wainwright, McGraw- Hill/Irwin
  2. Schaum’s Outline Introduction to Mathematical Economics, 3rd Edition, Edward T. Dowling McGraw-Hill
  3. Essential Mathematics for Economic Analysis, 3rd Edition, Knut Sydsaeter & Peter Hammond, Prentice Hall