Mathematics for Economic Analysis

4ECON007C

Introduction

Semester One, 2017-2018

Why do economists care about mathematics?
Economics
Counting amounts
Allocating right proportions

Economical problems
Reasoning skills (deductive & inductive)
Modeling & solving

We use math not because we are smart, but because we are not smart enough ~ Dani Rodrik ~

Every economist needs to have a solid foundation in the basics of economic theory and
econometrics... You cannot get this solid foundation without understanding the language of
mathematics that these fields use ~ Gregory Mankiw ~
How much pre-knowledge is required?

High-school mathematics

Elementary knowledge of economics

Basic skills of computer applications ( MS Excel)

What do you learn from the module?
Teaching week Dates Topics Notes

TW 1 Sep 19 Sep 23 Univariate Functions Tutorial

TW 2 Sep 26 Sep 30 Mathematics of Finance Tutorial

TW 3 Oct 3 Oct 7 Derivative of Univariate Functions Tutorial

TW 4 Oct 10 Oct 14 Multivariate Functions Tutorial

TW 5 Oct 17 Oct 21 In-Class Test In-Class Test

TW 6 Oct 24 Oct 28 Derivative of Multivariate Functions Tutorial

TW 7 Oct 31 Nov 4 Unconstrained Optimization Tutorial

TW 8 Nov 7 Nov 11 Constrained Optimization Tutorial

What do you learn from the module?
Teaching week Dates Topics Notes

TW 9 Nov 14 Nov 18 Linear Programming Tutorial

TW 10 Nov 21 Nov 25 Integral Calculus Tutorial

TW 11 Nov 28 Dec 2 Matrices Tutorial

TW 12 Dec 5 Dec 9 MS Excel Applications Tutorial

TW 13 Dec 12 Dec 16

Assessment Week Dec 19 Dec 23 Final Exam

Marking Week Dec 26 Dec 30

Who are your tutors?
Tutor Email Room Phone Group

Ulugbek Rahimov urahimov@wiut.uz IB118 238 74 00 (ext. 486)

Dilnavoz
d.abdurazzakova@wiut.uz IB118 238 74 00 (ext. 486)
Abdurazzakova
Farrukh Ataev fataev@wiut.uz ATB216 238 74 00 (ext. 642)

Najiba Khazratkulova n.khazratkulova@wiut.uz IB118 238 74 00 (ext. 642)

Isfandiyor akhmedov iakhmedov@wiut.uz IB118 238 74 00 (ext. 659)

What assessments are expected & when?
What assessments are expected & when?
In-Class Test 50%
1 hour and 15 min exam
Teaching Week 5 or 6
(18th October )
Topics 1, 2, 3, 4, 5

Final closed-book exam 50%

2 hours 15 minutes
Assessment Week
All topics
What are the recommended reading materials?
Elementary level

Haeussler, et al., Introductory Mathematical Analysis for Business,

Economics and Life and Social Sciences (2 copies)

Ian Jacques, Mathematics for Economics and Business (30 copies)

Teresa Bradley & Paul Patton, Essential Mathematics for Economics and
Business (1 copy)

Any other related textbook

What are the recommended reading materials?
Intermediate level

Edward Dowling, Introduction to Mathematical Economics (7 copies)

Edward Dowling, Mathematical Methods for Business and Economics

(4 copies)

Knut Sydsaester, et al., Essential Mathematics for Economic

Analysis (2 copies)

Michael Klein, Mathematical Methods for Economics (1 copy)

Any other related textbook

What are the recommended reading materials?
Advanced level

Alpha Chiang & Kevin Wainwright, Fundamental Methods of

Mathematical Economics (7 copies)

Malcolm Pemberton & Nicholas Rau, Mathematics for

Economists (3 copies)

Any other related textbook

What are the recommended reading materials?
http://www.mathisfun.com (fun way of learning Mathematics)

http://www.wolframalpha.com (computational knowledge engine)

https://www.khanacademy.org (over a thousand, 10-20 minute maths instructional videos,

from basic addition to calculus)

http://www.sosmath.com (more than 2,500 Math pages filled with short and easy-to-
understand explanations)

http://purplemath.com (online resource of algebra lessons)

http://www.bbc.co.uk/education/subjects/z38pycw (quality math lessons by world

famous BBC)

http://www.quickanddirtytips.com/math-dude (explanations and tips and tricks for a wide

range of maths topics)
Ground rules

Dont be late to sessions;

Prepare for sessions in advance;
Show good manners during sessions;
Bring your own copies of handouts & calculators;
Address any comments/concerns to the ML/tutors first.
- You cannot learn mathematics by reading a book. It is better still to pose problems yourself and try to solve them.
- Performance is related how much math you already know. It is a good predictor of success. It is a bad predictor of the quality of
your dissertation.
- No one in the faculty wants you to fail.
- Be nice to Farrukh, Dilnavoz, Najiba, Isfandiyor and Ulugbek.
- You do not need to know everything already.
- Work (and play) with classmates. You will learn more from them than your professors (Some of them will be friends for life).