Essential Math for Econ

0-3 Credits · Level: Undergraduate

The course will cover mathematical concepts that will be used in economics courses at the intermediate and advanced levels. The concepts will be applied to economic questions, and in-class problem-solving will be emphasized. The course begins with a review of functions in economics (e.g., demand and supply). It then turns to calculus, with a focus on optimization (e.g., choosing the amount of output to maximize your profit). The next topic is optimization of functions of two variables (e.g., choosing the quantities of two inputs to maximize your profit). The course subsequently considers optimization subject to one or more constraints as when you maximize your well-being (i.e., utility) while facing a budget constraint. The course concludes with an introduction to linear algebra, which studies linear equations of several variables. ECON 1357 satisfies the corollary math requirement for ECON/PECO/IECO/IPEC majors.