Available courses

  • Aim of the Course: This course is an extension of ‘Mathematics for Economics-I’. The objective of this course is to train students in the use of the most advanced mathematical tools and techniques encountered in economics. Broadly, the topics covered are optimization and linear programming.

Unit 1: Optimization

Classical Optimization, Optimization subject to equality constraints: The Lagrange Multiplier Method; Necessary and sufficient conditions for a solution to the optimization problem with equality constraints- Properties of convex and concave functions in this context - Interpretation of the Lagrangian Multiplier- Comparative static problems.

Unit 2: Linear Programming

Formulation of the Linear Programming Problem – Definitions of feasible solutions, and basic feasible solutions – The simplex method of solving linear programming problems.

Unit 3: Duality in Linear Programming The dual of a linear programming problem – Duality theorems – Estimation and Interpretation of the dual variables.

Unit 4:Non-Linear Programming

Kuhn - Tucker conditions and interpretation of the lagrangian multiplier-Comparative static problems concave programming.