Week 1: Set: Types and operations; Venn Diagrams.
Week 2: Cardinality of set. Cartesian products.
Relations and functions; Types of Functions.
Week 3: Inverse of Function; Functions in economics.
Graph: slope and equation of a straight line.
Week 4: Economic applications of graphs.
Rules of Exponents.
Equations & its types: Linear equations, Simultaneous equations with two unknown variables.
Week 5: Simultaneous equations with three unknown variables. Applications of linear equation in economics: Demand and supply analysis, Income determination models.
Week 6: Applications of linear equation in economics: IS-LM model.
Quadratic equations: solution by using factorization quadratic formula and completing squares.
Graph of quadratic equation.
Week 7: Minimum or Maximum Value of Quadratic Function by Completing the Squares.
Arithmetic and geometric progression.
Calculation of simple and compound interest.
Week 8: Time value of Money: Present and future value;
Annuity: Present and future value of annuities.
Matrices: Meaning and types, Transpose of a matrix; Operation of matrices: Addition, subtraction, multiplication.
Week 9: Determinants and its properties.
Singular and Non Singular Matrices; Rank & Trace of matrix.
Minor, cofactor and Inverse of a matrix.
System of linear equations.
Week 10: Crammer’s rule and matrix inversion method.
Eigenvalues and eigenvectors of a matrix.
Input- output model: Basic concepts and structure of Leontief’s open and Closed input-output model.
Solution for equilibrium output in a two and three industries model.
Week 11: Concept of Linear programming, Formulation of Linear programming problem (LPP), Graphical solution to LPP.
Week 12: Concept and formulation of duality.
Simplex method to solve LPP: Maximization of profit and Minimization of cost.
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