BrooklynCollegeMathEconomics

Fundamental Methods of Mathematical Economics I, ECON 3410





Fall 2017 Department of Economics, Brooklyn College Time : 9:30 am – 10:45 am (Tue and Thur) Room : 305 Whitehead Instructor : Leon Kaganovskiy e-mail : leonkag@gmail.com
 * Fundamental Methods of Mathematical Economics I, ECON 3410**

Introductory Mathematical Analysis for Business, Economics, and the Life and Social Sciences, Haeussler, Paul, Wood,13th Edition. We cover chapters 0, 1-4, 6, 11-13, 17
 * Course Description**: Mathematical tools necessary for Economics study. Application of differential calculus and matrix algebra to economic analysis.
 * Textbook:**
 * Disclaimer:** The syllabus is subject to change depending on the demands of the class. I will make best efforts to give advance notification of relevant changes, including revised policies, revised readings, etc.
 * Exams:** There will be one midterm and a final exam. In the event of an emergency, contact me ASAP to make alternative arrangements.
 * Homework**: I will regularly assign homework. We will start each lecture with homework review. It will not be collected, but it is essential to do it or you will not pass the exams.
 * Cell Phone**: You are not allowed to use your cell phones during class. When you are seen using your cell phone, you will kindly be asked to leave the classroom. Do not take it personally, if happens!
 * Laptop**: You are allowed to use a laptop for academic purposes only. If you use it in another way, I will kindly ask you to leave the classroom.
 * NOTE**: Attendance as mandated by the College policy.

The final grade for this course will be calculated as follows: Final exam 55% Midterm 45% Note: There is no extra credit. 
 * Grading:**
 * Academic Dishonesty**: The faculty and administration of Brooklyn College support an environment free from cheating and plagiarism. Each student is responsible for being aware of what constitutes cheating and plagiarism and for avoiding both. The complete text of the CUNY Academic Integrity Policy and the Brooklyn College procedure for policy implementation can be found at www.brooklyn.cuny.edu/bc/policies. If a faculty member suspects a violation of academic integrity and, upon investigation, confirms that violation, or if the student admits the violation, the faculty member MUST report the violation.
 * Students with Disabilities**: In order to receive disability-related academic accommodations students must first be registered with the Center for Student Disability Services. Students who have a documented disability or suspect they may have a disability are invited to set up an appointment with the Director of the Center for Student Disability Services, Ms. Valerie Stewart-Lovell at (718) 951-5538. If you have already registered with the Center for Student Disability Services, please provide me with the course accommodation form and discuss your specific accommodation with me.
 * 1.1** Ex 3 4 HW 9 13 **1.2** HW 9 19 **1.3** Ex 1 2 HW 1 3 **1.4** HW 11 29 40
 * 2.1** Ex 2 HW 45 53 **2.2** HW 31 37 **2.3** Ex 2 HW 7 17 19 **2.4** Ex 4 5 HW 4 9 **2.5** HW 11 29
 * 2.6** Ex 3 HW 13 19 **2.7** HW 9 11
 * 3.1** HW 27 51 55 **3.2** Ex 2, slide 24 HW 23 27 **3.3** Ex 1 6 HW 15 29 **3.4** HW 13 39 **3.5** HW 3 **3.3** Ex 3 HW 17
 * 4.1** Ex 1 9 11, slide 13 17, HW 28 30 31 47 **4.2** Ex 7, slide 25, HW 3 5 17 23 59 63 **4.3** Ex 3 5, slide 32, HW 29 38 41 43 47 **4.4** Ex 3, slides 39 43 44 49 50 HW 35 39
 * 6.3** HW 46 58 61 63 **6.4** Ex 3 4 5 HW 15 16 20
 * Optional extra credit: 6.5** Ex 1 3 4 HW 9-12 **6.6** Ex 4 5 6 HW 21 25 32


 * 11.2** Ex 5 7 HW 69-71 87 **11.3** Ex 3 4 5 7 8 9 HW 25 27 35 39 **11.4** Slide 45 Ex 3 5 8 HW 35 37 50-53 **11.4** Slide 52 54 Ex 5 6 HW 13 23 27 29 39 47 69
 * 12.1** Ex 2 3 4 5 HW 18 29 37 42 46 **12.2** Slide 12 Ex 2 4 5 HW 29 30 32 33 **12.4** Ex 2 3 HW 23 25 27 29 **12.5** Ex 1 2 4 HW 12 15 19 22 25 **12.7** Ex 1 2 3 4 5 HW 7 11 13-15 18 23 37
 * 13.1** Slide 9, Ex 2 3 4 HW 48 51 60 68 69 **13.2** Slide 19, HW 6 10 **13.3** Slide 27, Ex 2 4 HW 53 56 67 **13.4** Slide 37, Ex 1 HW 8 9 **13.5** Slide 41 43, Ex 1 2 HW 31 42 51 **13.5** Slide 61 Ex 2 3 6 7 8 HW 30 35 41
 * 17.1** Slide 4, Ex 2 3 HW 5 16 17 26 33 **17.2** Slide 14, Ex 2 3 HW 4 5 10 12

1) Find derivative of . 2) Let the demand function for a product be , where p is in dollars. Find the marginal revenue function at q=5 and **explain** its meaning. 3) Differentiate (hint – simplify 1st!) 4) Use logarithmic differentiation to find derivative of  at x=1. 5) Find equation of tangent line to the implicit curve . Sketch both.

6) Do a complete study of function in Ch13, slide 27, x and y intercepts, increasing decreasing, concavity, 2nd derivative test) and sketch. 7) Very similar to Ch 13 slide 58 (example 8 in the book). What is the marginal revenue and marginal cost at the level of output above? **Explain** their meaning!!!! 8) Similar to Ch17, slide. Find marginal outputs at (l,k) = (2,3), and **explain** their meaning.