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Course in Fundamental Methods of Mathematical Economics

 

Kevin Wainwright, PhD

Economics, SFU

Business & Computing, UFV

 

 

 

 

The video links in this site work best using Google Chrome, Microsoft Edge or Safari

 

This is a one semester course based on my textbook: Fundamental Methods of Mathematical Economics (4th edition) McGraw Hill

 

 

This page contains a set of lecture notes and video lessons covering most topics covered a Mathematical Economics or Calculus for Economics and Business course.

Each of the videos labelled "Lecture" are a short focused lecture on a specific topic or technique. In addition, there are a series of "example" videos that cover questions that students found challenging.

 

 

 

 

 

 

 

 

LECTURE NOTES (PDF)

 

Video Lectures & Examples

 

 

Lecture notes for Math-Econ course (complete)

 

 

 

 

 

Pre-Calculus Video topics

 

 

Matrix Algebra

 

 

 

 

 Matrix Algebra 

 

Multiplying Matrices

Lecture 1

 

Practise Problems  and

 

2 by 2 Determinant

Lecture 2

 

 

 

Multiply two 3 by 3 matrices together

Lecture 3

 

Answer Key

 

Minors and Cofactors

Lecture 4

 

 

 

3 by 3 determinant (Laplace Expansion)

Lecture 5

 

 

 

Solving 2 equations with Matrix Inversion

Lecture 6

 

Worksheet to accompany Lec 7 (3x3 Matrix inversion)

 

Find the Inverse of a 3 by 3 Matrix

Lecture 7

 

Single Variable Calculus

 

 

 

 

Derivatives: First 5 Rules  

 

Notation & Definition

Lecture1

 

 

 

The Constant Rule

Lecture 2

 

 

 

The Power Function Rule

Lecture 3

 

 

 

The Sum-Difference Rule

Lecture 4

 

 

 

The Product Rule

Lecture 5

 

 

 

The Quotient Rule

Lecture 6

 

The Chain Rule 

 

The Chain Rule 1

Lecture  7

Worksheet: Q4;

Worksheet: Q6;

 

 

 

 

 

 

 

 

 

 

The Chain Rule 2 (alternative method)

Lecture 8

 

 

 

Product/Chain with Factoring

 

 

 

 

 

One Variable Optimization  

 

Higher Derivatives

Lecture 9

 

 

 

Concavity

Lecture 10

 

 

One Variable Optimization

Lecture 11

2 mkt Monopoly with NO Price discrimination

Cobb-Douglas and SR Cost curves

 

 

deriving MC and AC from total cost, and MP and AP from productin function.

 

 

 

 

 

Natural Log, e, differentials, and Implicit differentiation notes  

 

Natural Logarithm and the Number e

Lecture 12

 

More on differentials 

 

Example: solving TR = Ae-at

 

 

 

Product and Quotient Rules with e in function

MathLab - combining logarithms (problem 2.4.4)

  • Demo for those getting error message

 

 

 

 

 

 

 

 

 

 

Multivariable Calculus and Constraint Problems

 

 

 

 

 Partial Derivatives

 

Partial Derivatives 1: linear and cobb-douglas

Lecture 13

Application: Marginal Products of K and L from the Production Function (Cobb-Douglas)

Partial Derivative and Implicit Function Theorem

 

Partial Derivatives 2: 2nd partials and cross partials

Lecture 14

 

Cross Partials (Fxy, Fyx) and Young's Theorem

 

Implicit Function Theorem & the MRS, MRTS

Lecture 15

 

 

 

 

 

Two Variable Optimization

 

Unconstrained Optimization

Lecture 16

 

Two Variable Optimization with Economic Applications

 

 

 

 

 

 

 

 

Constrained Optimization

 

Substitution method of 2 variable maximization

Lecture 17

 

 

 

 

Examples and Applications of Lagrange

 

MRTS and Cost Min in Production

Lecture 18

 

 

 

 

Notes on Utility Maximization 

 

Intro to Lagrange Multiplier Method

Lecture 19

 

 

 

 

Applications and Advanced Topics

 

 

 

 

 

 

Cost Min and Production with Lagrange

Lecture 20

 

 

 

The Gains from Trade (2 Lagrange steps)

Lecture 21

 

 

 

 

Lagrange with multiple constraints (Kuhn-Tucker)

 

Inequality Constraints (Kuhn-Tucker)

Lecture 22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Matrix Algebra 

 

Multiplying Matrices

Lecture 23

multiply two 3-by-3 matices together

 

Practise Problems  and Answer Key

 

2 by 2 Determinant

Lecture 24

 

 

Minors and Cofactors

Lecture 25

 

 

3 by 3 determinant (Laplace Expansion)

Lecture 26

 

 

Solving 2 equations with Matrix Inversion

Lecture 27