Mathematical economics
Dr Xiaokai Yang
6 points
* Two 1.5-hour lectures per week
* Second semester
*
Clayton
* Prerequisites: Mathematics 123 or equivalent and EC2000 or
equivalent
* This subject has a substantial mathematics content and
students who have not completed a pass in group 1 VCE mathematics subject will
have difficulty in handling the subject. Such students should consult the
lecturer of the subject prior to enrolling.
Objectives On completion of this subject students should be able to analyse mathematically many of the basic economic problems introduced in earlier years and apply the mathematical analysis to a range of other economic topics.
Synopsis The subject will cover, in mathematical terms, many of the areas treated more intuitively in first-year microeconomics, eg consumer demand, the theory of the firm, equilibrium and Pareto optimum. However, a significant portion of the lectures will deal with topics not covered earlier, such as non-linear programming, game theory, and dynamic optimisation.
Assessment Assignments: 30%
* Examination (3 hours): 70%
Recommended reading
Chiang A Fundamental methods of mathematical economics McGraw-Hill, 1984
Kreps D A course of microeconomics Princeton University Press, 1990
Yang X and Ng Y-K Specialization and economic organization North-Holland, 1993
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