Math Tools for Economists II

Econ 1088-002

Fall 2004

Syllabus and Tentative Outline

 

Instructor: Aric Shafran                                                 Class: MWF 2:00 – 2:50

Office: Econ 414                                                                      Classroom: HLMS 201

Office hours:  M 3:00-4:00, W 1:00-2:00, and by appt. Office phone: (303) 492-7709 

 

E-mail: Aric.Shafran@Colorado.edu (preferred way of communication)

Class webpage: http://ucsu.colorado.edu/~shafrana/1088

 

Course Description:

This class is a continuation of Econ 1078. Basically, it consists of two parts: derivatives and integrals (chapters 9-11 of the text). These tools will help you to better understand the mathematical framework on which economic models are based.

 

Prerequisite: Econ 1078 or equivalent.

 

Textbook:

Required: R. Barnett and M. Ziegler, “Essentials of College Mathematics”, 3rd edition.

Recommended: Study Guide for Essentials of College Mathematics.

Recommended: A scientific calculator.

 

Homework:

Homework will be assigned during class and usually due once a week. It is a vital part of learning to do the homework (mathematics is best learnt by practicing). During the class when homework is due I will randomly name several students who will need to turn in their homework.  Late homework will not be accepted. Homework will be graded in part based on accuracy and in part based on effort.  Your lowest homework grade will be dropped.  You are encouraged to work together, but your answers must be written individually to be sure that you understand and get credit for your homework. In addition to the assigned homework, the Student Solution Manual to accompany the textbook provides solutions to every odd numbered problem. You are recommended to practice them. 

 

In addition to the homework (which will be out of the textbook), there will be several in-class assignments and short home assignments which will be graded primarily based on participation.  The purpose of these assignments will be to give you some initial practice problems before attempting the homework and to encourage regular attendance.  These assignments will count as extra credit and can add up to 5% to your final grade.

 

Grading:

 

Homework                   15 points

In-class Exam 1            25 points

In-class Exam 2            25 points

In-class Exam 3            25 points

Final                             35 points

 

There will be three in-class exams and a compulsory cumulative final exam. Each in-class exam is worth 25 points (I will drop the lowest in-class exam grade). The dates of exams 1-3 will be announced in class and posted on the class webpage at least a week prior to taking place. The final exam is worth 35 points. The date of the final exam: Friday, December 10 (4:30 – 7:00 pm).  There will be absolutely no make-ups.

 

Topics covered in the course include:

 

Chapter 9

9-1             Limits and Continuity A geometric Introduction.

9-2             Computation of Limits

9-3             The Derivative

9-4             Derivative of Constants, Power Forms, and Sums

9-5             Derivative of Products and Quotients

9-6             Chain Rule: Power Form

9-7             Marginal Analysis in Business and Economics

 

Chapter 10

10-1         First Derivative and Graphs

10-2         Second Derivatives and Graphs

10-3         Curve Sketching Techniques

10-4         Optimization. Absolute Maxima and Minima

10-6         Derivative of Logarithmic and Exponential Functions

10-7         Application of Chain Rule to Logarithmic and Exponential Functions

 

Chapter 11

11-1         Antiderivatives and Indefinite Integrals

11-2         Integration by Substitution

11-3         Definite Integrals

11-4         Area under the curve and the Definite Integral

11-6         Economic Application of Definite Integrals: Consumer’s and Producer’s Surplus.

 

General policies:

1)      It is the students’ responsibility to take control of their own education.  If you are having problems, I am more than willing to help you. You just need to approach me at some point. 

 

2)      No make-ups will be given unless prior permission is obtained and only in extremely extenuating circumstances.  If you miss an exam or a HW, you will be given a zero.

 

3)      The final is mandatory.  It cannot be replaced with any other exam under any circumstances.

 

4)      Note: The Economics Department will make reasonable accommodations for persons with documented disabilities. Students with disabilities who qualify for academic accommodations must provide a letter from Disability Services (DS) and discuss specific needs with the instructor during the first two weeks of class.  DS determines accommodations based on documented disabilities (303-492-8671, Willard 322, www.colorado.edu/sacs/disabilityservices)