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    Syllabus Fall 2023

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    Syllabus Fall 2023

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    Syllabus Fall 2023

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    New York University

    Department of Economics
    Mathematics for Economists (MA)
    ECON-GA 1001 005
    Fall 2023 (ERDEN)
    Last updated on Friday, September 01, 2023 at 6:14:36 PM

    Instructor: Seyhan Erden


    Instructor’s email address: sza1@nyu.edu

    Teaching Assistant: Alexander Kwon


    TA’s email address: ak9523@nyu.edu

    Lectures:
    Fridays 2:45 – 4:45pm, classroom: 6 Washington Place (Meyer Hall) Room 122
    Recitations:
    Fridays 1:10 – 2:40pm at TBA
    Fridays 4:50 – 6:20pm at TBA

    Required Textbook: A.C. Chiang K Wainwright, Fundamental Methods of


    Mathematical Economics, McGraw Hill, 4th ed, 2005

    Recommended Textbooks:
    - J.M. Henderson and R.E. Quant, Microeconomic Theory, A Mathematical
    Approach, 2nd ed., McGraw-Hill, 1971
    - Foundations of Mathematical and Computational Economics, by Kamran
    Dadkhah, Thomson South Western, 2007
    - Further Mathematics for Economic Analysis: by Sydsaeter, Hammond,
    Seierstad and Strom, Prentice Hall, 2005
    - J. Johnston, Econometric Methods, 3rd ed., McGraw-Hill, 1984
    - R.G.D. Allen, Mathematical Analysis for Economists, MacMillan, 1938
    - C. Simon and L. Blume, Mathematics for Economists, W.W. Norton, 1994.
    - K. Sydsaeter and P. Hammond, Mathematics for Economic Analysis,
    Prentice Hall, 1995.
    - Peter Hess, Using Mathematics in Economic Analysis, Prentice Hall, 2002
    - Hands, D. Wade, Introductory Mathematical Economics, Oxford University
    Press, 2004
    - R. Barro and X. Sala-i-Martin, Economic Growth, 2nd Edition, MIT Press,
    2004.
    - A. Chiang, Elements of Dynamic Optimization, Waveland Press, 1992.

    1
    Course Description:
    This course is designed to render a systematic exposition of certain basic
    mathematical methods and to relate these mathematical techniques to the
    various type of economic analysis. The course provides a working knowledge of
    the concepts of sets, set operations, functions, matrix algebra, differentiation of a
    function containing one or more variables, techniques for unconstrained and
    constrained optimization, first order differential equations and an introduction to
    optimal control theory. To integrate these mathematical subjects with economic
    analysis, they are organized along the following distinct types of economic study:
    static equilibrium analysis, comparative static analysis, maximization/
    minimization problems and economic growth problems. The various analyses
    focus on both micro and macroeconomic theories.
    Course Requirements:
    There will be a homework assignment each week. Homework will make up
    30% of your final grade. Also, a midterm and a final exam will be administered,
    former exam’s weight will be 30% and the latter’s weight will be 40% of your final
    grade. Both exams are cumulative covering all materials up to the time of the
    exam. Those who want to be excused from an exam should make a written
    request with supporting documents such as a physician’s statement.

    COURSE SCHEDULE:
    Week Date Topic Homework / Reading Assignments
    No hw is due the first week, each
    assignment is due the following
    week in class unless noted
    otherwise
    1 Sep 8th Static Analysis: Read Chapter 3 and 4 of Chiang
    Equilibrium Analysis in and Wainwright
    economics. Linear Hw: due next week
    model; Matrix algebra. page 34 questions : 2, 4
    Chapter 3 and 4 page 40 questions: 2, 6, 7
    (Chiang and Wainwright) page 45 question : 2
    Chapter 2 and 4 page 47 question : 2
    (Dadkhah) page 51 questions: 2, 3, 4, 5
    page 58 questions: 2
    page 65 questions : 2, 4, 6
    page 78 question : 6

    2 Sep 15th Matrix algebra; Inverse Read Chapter 5 of Chiang and


    of a matrix; Rank of a Wainwright
    matrix, Cramer’s rule, Hw: due next week
    Leontief Input-Output page 81 question 1
    Models page 88 question:2, 4, 5
    Chapter 5 (Chiang and page 93 questions:1d, 1f, 2,
    Wainwright) 4, 6, 7

    2
    Chapter 5 (Dadkhah) page 98 question :8
    page 102 questions:2,4b,4d
    page 107 questions:1b,
    2 for 1b only, 3b,4
    page 111 questions: 2, 3

    Sep 18th Add/Drop Deadline

    3 Sep 22nd Comparative statistics; Read Chapter 6 and 7 of Chiang


    differentiation of and Wainwright
    algebraic functions in Hw: due next week
    case of one variable. page 120 questions : 2, 6
    Average and marginal page 152 questions : 1b,
    relationships, elasticity. 1d, 1f, 2a, 2f, 3b, 3e
    Partial differentiation; page 160 questions : 2, 3b,
    differentials 3f, 4d, 5, 7b, 7d, 8b, 8d, 10
    Chapter 7 (Chiang and page 165 questions : 2, 4
    Wainwright ) page 169 questions : 1b, 1d,
    Chapter 6 and 7 2b, 2d, 3 for 2b and 2d, 4
    (Dadkhah) page 177 question: 2
    Chapter 4, 6 and 7
    (Allen)
    4 Sep 29th Comparative-static Read Chapter 8 of Chiang and
    analysis of General- Wainwright
    Function Models. Total Hw: due next week
    derivatives; implicit page 184 questions:3b, 4, 6
    function theorem; page 187 questions: 7d, 7e
    comparative statistics of page 189 questions: 2a, 3b
    general-function models; page 193 questions: 5, 6
    National income model page 204 question: 4, 10
    Chapter 8.1 – 8.6
    (Chiang and Wainwright)
    Chapter 6 and 7
    (Dadkhah)
    Chapter 11, 12 (Allen)

    5 Oct 6th Optimization: A Special Read Chapter 8.6 to 9.5 of


    Variety of Equilibrium Chiang and Wainwright
    Analysis. Exponential Hw: due next week
    and Logarithmic page 217 questions:2, 4, 5
    Functions. page 226 questions: 2b, 2c
    Chapter 8.6 – 9.5 page 241 questions : 3, 6
    (Chiang and Wainwright) page 250 question: 2, 3

    6 Oct 13th The case of More Than Read Chapter 9.6 to 10.7 of
    One Choice Variable. Chiang and Wainwright

    3
    Profit maximization; Hw: due next week
    multi-product firm; price page 260 question: 2, 3b
    discrimination page 267 questions:4b,4c,5
    Chapter 9.6 - 10.7 page 276 questions: 3, 5b,
    (Chiang and Wainwright) 6d, 7
    Chapter 8 (Hess) page 282 questions: 1h,1g,
    Chapters 14, 17 and 18 2, 3f, 3g,4c,4e, 7b
    (Allen) page 286 questions: 4
    page 290 questions : 1d, 2
    5, 6, 8, 10, 11

    7 Oct 20th Optimization with Hw: due next week


    Equality Constraints. Read Chapter 11 upto section
    Lagrange Multiplier, 11.6 of Chiang and Wainwright
    Bordered Hessian. page 300 questions: 2, 4,
    Chapter 11.1 – 11.6 page 312 questions: 1b,
    (Chiang and Wainwright) 2 for 1b only, 3 for 1b
    Chapter 10 (Dadkhah) only, 4e, 5 for 4b & 4e, 6b, 8
    page 317 questions: 2, 5a
    page 330 questions: 2b, 4, 6
    page 341 questions:2, 4, 5b

    8 Oct 27th Utility Maximization and Hw due in two weeks


    Consumer Demand. page 355 questions: 1b,1d,
    Chapter 11.7 – 12.5 and 2 for 1b & 1d, 3b, 6
    Duality and the Envelope page 363 questions:1 for b
    Theorem, (13.6) (Chiang & d only
    and Wainwright) Midterm page 441 questions : q1
    exam review

    Nov 3rd Midterm exam (2 hours)

    9 Nov 10th Kuhn-Tucker Conditions, Read Chapter 13 of Chiang &


    Envelope Theorem. Wainwright
    Chapter 12.6, 12.7, 13.1 Hw: due next week
    – 13.3 only (Chiang and page 374 questions: 1, 2b
    Wainwright) page 382 questions: 2, 4
    Chapter 10 (Dadkhah) page 389 questions: 1b, 1d,
    1f, 5, 6, 8c
    page 401questions : 4, 5,
    6c, 7, 8b, 8d page
    412 questions: 2, 4
    page 418, question: 2 b only
    page 423, questions : 1, 3

    4
    10 Nov 17th Dynamic Analysis: Read Chapter 14 of Chiang and
    Integration, Domar Wainwright
    Growth Model. Hw: due next week
    Chapter 14 (Chiang and
    Wainwright) page 453 questions: 1b, 1e,
    1f, 2b, 2e, 2f, 3b, 3d, 4b
    page 460 question: 1d, 1c,
    1f, 2b, 2d, 5
    page 464 question: 3
    page 470 questions: 2, 3b,
    4, 5b
    page 474 questions: 4

    Nov 24th Thanksgiving Break No class

    11 Nov 18th Continuous Time: First Read Chapter 15 and section


    Order Differential 19.5 of Chiang
    Equations, Dynamics of Hw: due in two weeks
    Market Price. Solow page 479 questions:
    Growth Model. 1b, 1d, 3b, 3d, 3f
    Chapter 15 (Chiang and page 483 question: 4
    Wainwright) and Phase page 486 questions: 2, 4
    Diagrams. page 491 question: 1b, 1d,
    page 498 questions: 1b, 1d
    page 502 questions: 2, 3

    12 Dec 1st Section 19.5 of Chapter Read section 19.5 of Chiang


    19 (Chiang and Hw: due on next week on
    Wainwright)) Wednesday
    page 623 questions: 1, 2, 4
    Review for the Final
    Exam (part of this lecture
    may be used for any
    subject that was not
    covered due to time
    restriction)

    Dec 8th Final Exam (2 hours).

    Last updated on Friday, September 01, 2023 at 6:14:36 PM

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