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Economics Third Semester Syllabus


Module 1: Tools of Economic Analysis

  • Nature and Scope of Mathematical Economics 
  • Role of Mathematics in Economic Theory 

Functions and Functional Relations:
  • Linear and Non- Linear Functions 
  • Demand and Supply Functions 
  • Liquidity Preference Functions 
  • Production Possibility Curves 
  • Indifference Curves 

Concept of Sets:
  • Meaning and Types 
  • Union of Sets 
  • Intersection of Sets 

Module 2: Economic Application of Linear Functions 
  • Determination of Market Equilibrium Price and Quantity 
  • Impact of Specific Tax on Market Equilibrium 
  • Impact of Subsidy on Market Equilibrium 

Module 3: Derivatives of Functions 
  • Concept of Limit and Continuity 
  • First Principle of Differentiation Relating to Algebraic Functions 
  • Application of Differential Calculus to Economics to Derive Marginal Revenue and Marginal Cost Function and Total Revenue and Total Cost Functions 
  • Elasticity of Demand 
  • Revenue/Profit Maximization and Cost Minimization 

Module 4: Definition and Scope of Statistics 
  • Definition 
  • Importance of Statistics in Economics 
  • Limitations 

Module 5: Sources of Data and Presentation of Data 
  • Primary and Secondary Sources 
  • Classification and Tabulation of Data 
  • Diagrammatic Representation of Data 

Module 6: Measures of Central Tendency
  • Mean, Median, Mode 
  • Geometric Mean and Harmonic Mean for Grouped and Ungrouped Data 

Module 7: Measures of Dispersion 
  • Range, Semi-Inter Quartile Range, 
  • Mean Deviation and Standard Deviation 
  • Lorenz Curve

Recommended Text Books
1.  Veerachamy R (2005) Quantitative Methods for Economics, New Age International (P) Limited Publishers, New Delhi.
2.  Bose D (2000) An Introduction to Mathematical Economics, Himalaya Publishing House, Mumbai.
3.  Anderson David R, Dennis J, Sweeney and Thomas A. Williams, (2002) Statistics for Business and Economics, Thomson South – Western, Singapore
4.  Dr.C.K. Renukarya “ Mathematics and Statistics for Economics” Chetana Publication
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