Course Details
Subject {L-T-P / C} : HS1345 : Optimization Theory in Economics { 3-0-0 / 3}
Subject Nature : Theory
Coordinator : Bikash Ranjan Mishra
Syllabus
Module 1 : |
Unit – 1
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Course Objective
1 . |
To assimilate the interconnections between Mathematics and Economics |
2 . |
To understand and assess the fundamental procedures of optimization techniques |
3 . |
To analyze the applications of optimization principles in Economics and Business |
4 . |
To comprehend and evaluate the different schools of thought associated with Optimization starting with the classical school to dynamic programming |
Course Outcome
1 . |
On successful completion of the course, students will be able to:
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Essential Reading
1 . |
1. Sydaster K. Hammond P., Storm A, and Carvajal A., Essential Mathematics for Economic Analysis, Pearson , 5th Edition, 2016 |
2 . |
2. Chiang A., and Wainwright K., Fundamentals of Mathematical Economics, Mc-Graw Hill , 2005 |
Supplementary Reading
1 . |
Dixit A. K., Optimization in Economic Theory, Oxford University Press , 2nd Edition, 1990 |
2 . |
Intrilligator M. D., Mathematical Optimization and Economic Theory, Prentice-Hall , 2002 |