Course Will start from 20th February, 2023
Course Completed on 26th June, 2023
Final Question Paper - 2021 , 2022, 2023
Syllabus
1. Determinants and Matrices:
Concepts of Scalar, Vector and Matrices –– Some specific Matrices: Diagonal, Triangular, Identity, Null , Symmetric, Idempotent – Matrix operations ; Addition, Subtraction and Multiplication of Matrices – Transpose and Inverse of Matrices- Determinants-Minor and Cofactor- Properties of Determinants- Bordered Hessian Determinant – Technique of solving Simultaneous Equations by Cramer’s Rule.
Lecture - 1 - Matrix Introduction - Youtube Video Link , Reading , Question set 1 , Sol 1 , Notes , Practice set1 ,Question set 2.1 , Sol 2.1
Lecture 2 - Finding out Determinants of Matrices. - Youtube Video link , Question set 2.2 with solution
Lecture 3 - Finding the Inverse of a Matrix - Youtube Video Link , Question set 2.3 , Solution 2.3
Lecture -4 Solving System of Linear equation using Inverse Matrix method - Youtube Link , Question set 3., Solution set 3
Lecture -5 Solving System of Linear equation using Cramer's Rule - Youtube Video Link
Lecture- 6 Solving System of Equation Using three methods
Lecture- 7 Bordered hessian determinant
2. Input – Output Analysis:
Basic Concept of Input-Output Analysis – Assumptions and structure of the Leontief Static Open Model (2 ×2 Case) – Solution in such a Model – Hawkins – Simon condition and its Economic Interpretation – Price System in LSOM (2×2 Case) with Economic Implications.
Lecture 2.1 -Leontief 2x2 Input Output Analysis -Video
Lecture 2.2 Determination of equilibrium Price in Input Output Matrix- Video
Notes- Economic interpretation of Hawkins Simon condition- Notes
3. Linear Programming:
Linear Programming Technique as a Tool of optimization – General Formulation of the LP Problem – Applications in Economics – Graphical solution of some standard problems (Maximization and Minimization) – Concepts of Slack Variable, Basic Feasible Solution. Solution of some simple problems by Simplex Method (Maximization case only)- The Dual problem – Economic Interpretation of Duality.
Conversion of Primal to Dual Problem-video
4. Basic Game Theory:-link
Basic Concepts and Assumptions of Game Theory – Two Person – Zero – Sum Game with and without Saddle Point – Concept of Dominance – Elements of Non – Zero – Sum Game – Prisoner’s Dilemma – Concept of Dominant Strategy equilibrium and Nash Equilibrium – Sub-game Perfect Nash Equilibrium- Applications.
Suggested Readings:
1 . W. J .Baumol : Economic Theory and Operation Analysis, Prentice Hall.
2. Drofman , Samuelson and Solow : Linear Programming and Game Theory : An Economic Analysis
3. N. D . Vora : Quantitative Techniques in Management, Tata McGraw Hill.
4. Sharma : Operation Research , Theory and Applications, Macmillan India Ltd.
5. Taro Yamane : Mathematics for Economist- An Elementary Survey.