Ennio E. Piano, Department of Economics and F.A. Hayek Program, George Mason University, Mason Hall, D137-7.
Office hours: Thursday, 9:00-10:30 AM or by appointment. Buchanan Hall, F.A. Hayek program office, D137-7.
Course objectives
The objective of this course is to introduce the student to some fundamental mathematical tools for economic analysis. The class will mostly focus on the application of this tool to basic microeconomic analysis.
Required Readings
Textbooks:
Sydsaeter, K. et al. (2016). Essential mathematics for economic analysis (5th edition). London: Pearson.
Piano, E. (2017). Notes on microeconomics. Mimeo. Link:
Scheduled outline
Week 1
Introduction & course overview. Basic algebra. Miscellaneous. Readings: Sydsaeter, ch.s 1, 3.
Week 2
Equations. Readings: Sydsaeter, ch 2.
Week 3
Univariate functions. Readings: Sydsaeter, ch 4.
Week 4
Properties of functions. Readings: Sydsaeter, ch 5.
Week 5
Differentiation. Readings: Sydsaeter, ch 6.
Week 6
Applications. Readings: Sydsaeter, ch 7. ***First homework due***
Week 7
Optimization. Readings: Sydsaeter, ch 8.
Week 8
Midterm.
Week 9
Multivariate functions. Readings: Sydsaeter, ch 11.
Week 10
Comparative statics. Readings: Sydsaeter, ch 12.
Week 11
Multivariate optimization. Readings: Sydsaeter, ch. 13.
Week 12
Constrained optimization. Readings: Sydsaeter, ch 14.
Week 13
Consumer behavior. Utility maximization. Derivation of the law of demand. Readings: Piano, notes on consumer behavior. ***Second homework due***
Week 14
General equilibrium with no production. Profit maximization. Monopolist firm. Competitive firm. Readings: Piano, notes on general equilibrium & notes on the theory of the firm.
Week 15
Final.
Other important dates