**MATHEMATICS AND STATISTICS FOR ECONOMICS**

**Module 1: Tools of Economic Analysis**

**Introduction:**

- 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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