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## Written By Unknown on Sunday 23 June 2013 | 01:07

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