Economics 480: Mathematical Economics

Fall, 2017

http://www.math.psu.edu/li/teaching.html


PROFESSOR: Dr. Jenny X. Li
E-mail: li@math.psu.edu, Office: 220 McAllist Building
Office hours: Tue. 3-4pm, Wed. 10-11pm or by appointment.
TA. Watabe Yuta, Office: Kern 306. Office hours : Mon 3:30-4:30pm, Thu 10-11am.
TA E-mail: yutawatabe@gmail.com;
TEXTBOOK: Fundamental Methods of Mathematical Economics. Alpra C. Chiang, 2005 edition
REFERENCE: An Introduction to Mathematical Methods in Economics J. Colin Glass, latest edition
PREREQUISITES: Econ 302 Econ 304 and Math 110
GRADE:
  1. Homework (25%): Every other week.
  2. Midterm (35%): Oct.19 at regular lecture time.
  3. Final Exam (40%): Time and place will be announced.
POLICIES:
  1. NO late homework will be accepted. Also there will be NO makeup midterm.
  2. Bonus questions will be given throughout the semester which will be added to the final grade.
  3. NO books, notes, calculators or other electronic devices are permitted in the midterm or final exam.
TENTATIVE OUTLINE:
  • PART I Equilibrium (or Static) Analysis

  • Review
  • The Nature of Mathematical Economics
  • Equilibrium Analysis in Economics
  • Linear Models and Matrix Algebra
  • Linear Models and Matrix Algebra Continued

  • PART II Comparative-Static Analysis

  • comparative Statics and Derivative
  • Rules of Differentiation and Their application in Comparative Statics
  • Comparative-Static Analysis of General Function Models

  • PART III Optimization Problems

  • Optimization: A special variety of Equilibrium Analysis
  • Exponential and Logarithmic Function
  • Optimization: the case of more than one Choice variable
  • Constrained Optimization

  • PARTIV Mathematical Programming and Game Theory

  • Linear Programming
  • Game Theory