Courses


Certificate Course In “Application of Basic Mathematics in Economics”

Course Duration: 15 hours

Economics is becoming more multidisciplinary with schools of thought like heterodox economics calling for a pluralist interdisciplinary approach. Moreover, mathematics and data analytics are an integral part of economics. While Colleges in Mumbai traditionally focused on the qualitative theoretical aspects of economics, there is an increasing focus on the quantitative aspect as well. Studying mathematical economics and econometrics helps appreciate the tools available to understand the economic variable, make predictions, and derive models. However, students from the Arts (arts, humanities and social sciences) stream are allowed to opt out of Mathematics in high school, which leaves them unequipped to deal with the mathematical aspects of economics and to fully understand or apply economic theories. In order to help bridge this knowledge gap, The Economics Club Mumbai introduced in January 2023 a Certificate Course in “Application of Basic Mathematics in Economics” for first-year undergraduate students.

Objectives:

  • To enable an understanding of basic Calculus such as Functions, Limits, Derivatives
  • To familiarize students with the Economic Application of Differentiation and Integration
  • To give a brief introduction to Econometrics, an understanding of which is essential for a professional career in Economics

    • Syllabus for the Course:

  • I) Functions, Equations, Economic Models, Product and Factor Markets
  • II) Limits and Continuity, Calculus: Differentiation, Product Rule, Chain Rule, Economic Application of Derivatives, Partial Differentiation and its Economic Applications
  • III) Integration and its Economic Application: Consumer Surplus, Producer Surplus

    • Lectures delivered by: Prof. Amit Joshi

    References:

  • Dowling, E. T. (2006). Schaum's Easy Outline of Introduction to Mathematical Economics. McGraw Hill Professional
  • Chiang & Wainwright (2017). Fundamentals of Mathematical Economics. McGraw Hill Education (India)

    • Course Outcome:

    At the end of the course, the student will be able to:

  • Relate economic theories with Mathematical Interpretation
  • Appreciate the basic tools of Mathematics available to economics students
  • Acquire a basic insight into Econometrics

    • Location:

    6, 7 Prem Apartment,
    Sane Guruji Nagar,
    L T Extension Road,
    Mulund East,
    Mumbai - 400081, India

    Email:

    learneconomics@gmail.com
    info@economicsclubmumbai.org

    Call:

    +(91)-22-21631672
    +(91)-9324818296

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