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ECON 256 Math for Economics and Business Units: 3.00
This course is an introduction to the use of mathematics in economic analysis. The goal is to provide students with the basic mathematical tools that are widely used in various fields of economics. The first half of the course will concentrate on topics from real analysis such as the concept of a limit, continuity, and derivatives. The second part of the course will examine techniques for optimization, starting with unconstrained optimization problems involving a single choice variable, and following with unconstrained multivariable optimization and optimization under constraints.
Learning Hours: 120 (36 Lecture, 84 Private Study)
Requirements: Prerequisite ECON 110/6.0 or (ECON 111/3.0 and ECON 112/3.0).
Exclusion COMM 161/3.0; ECON 255/3.0.
Offering Faculty: Faculty of Arts and Science
Course Learning Outcomes:
- Understand the role of mathematics and mathematical modeling in economics.
- Find equilibrium outcomes in economic environments described by systems of linear equations.
- Apply various calculus techniques to derive comparative statics results from economic models.
- Formulate and analyze optimization problems in economic settings.