Course Syllabus
Course Number:
ECO 319
Course Title:
Quantitative Analysis I
Credits:
(3:3)
Prerequisites/Co-requisites:
MAT 120 or 191, and ECO 201; 2.0
GPA
For Whom Planned:
Economics and Mathematics majors
and students planning to go to
graduate school in economics,
business or social sciences.
Instructor Information:
Stephen K. Layson, PhD
Office Hours: TTH 10-12,
457 Bryan Building
334-4868, (phone),
sklayson@uncg.edu
Catalog Description:
Introduction to mathematical methods
in economics. Includes applications of
mathematics to consumer and
production theory, equilibrium
analysis, input-output models, and
optimization.
Student Learning Outcomes:
At the end of the course you should be able to:
1. Solve supply and demand models for equilibrium price and output and
illustrate the solution graphically. Solve national income models for
equilibrium national income and understand the concept of the multiplier.
(Quizzes 1&2 and exam one will cover this SLO.)
2. Write and solve economic models expressed in matrix notation. (Quiz 3
and exam 1 will cover this SLO.)
3. Explain what a derivative is and give its geometric representation. (Quiz
4 and exam 2 will cover this SLO.)
4. Use partial derivatives to do comparative static analyses for supply and
demand models and national income models. (Quiz 5, exam 2 and the
final exam will cover this SLO.)
5. Use marginal analysis, first derivatives and second derivatives to do
optimization problems, such as profit maximization and cost minimizing
problems. (Quizzes 6&7, exam2and the final exam will cover this SLO.)
6. Use exponential or logarithmic functions to express the concepts of
growth, decay, and elasticity. (Quizzes 8&9 and the final exam 3 will
cover this SLO.)
7. Form and solve multivariable optimization problems, such as profit
maximization for a two-product firm. (Quiz 10 and the final exam will
cover this SLO.)
TEACHING METHODS AND ASSIGNMENTS FOR ACHIEVING
LEARNING OUTCOMES:
Students should first read the assigned chapters in the textbook before the
class lectures. The lectures will reinforce and extend the textbook
discussion. The students are also encouraged to do the textbook exercises at
the end of each chapter to help prepare for the midterm and final exams.
Additionally, there will be weekly short quizzes to provide continual
feedback on how well the students are learning the material.
1) The quizzes will cumulatively count for 20% of your final grade. The
two lowest quiz scores are dropped. Missed quizzes cannot be made
up even in cases of illness.
2) There will be 2 hourly in- class exams each counting for 20% of your
final grade.
3) The final exam given on May 4, 8-11 AM, Bryan 111, will cover
textbook chapters 6-11 and will count for 40% of your final grade.
EVALUATION AND GRADING
The following grading scale will be used for all quizzes, the hourly
exams and the final exam.
A+
A
AB+
B
B-
98-100%
93-97%
90-92%
87-89%
83-86%
80-82%
C+
C
CD+
D
D-
77-79%
73-76%
70-72
67-69
63-66
60-62
F
0-59%
REQUIRED TEXT:
Fundamental Methods of Mathematical Economics, fourth edition, by Alpha
C. Chiang and Kevin Wainwright.
TOPICAL OUTLINE/CALENDAR:
Week 1
Introduction and Review: Chapters 1 and 2.
Week 2
Static Equilibrium Analysis: Chapter 3
Week 3
Matrix Algebra: Chapter 4
Week 4
Matrix Algebra and Linear Models: Chapter 5
EXAM ONE
Weeks 5 &6
Derivatives: Chapter 6
Weeks 7 & 8
Partial Derivatives and Comparative Static Analysis:
Chapter 7
Week 9
Total Differentials and Total Derivatives: Chapter 8
EXAM TWO
Week 10
Optimization Problems of One Variable: Chapter 9
Week 11
Exponential and Logarithmic Functions: Chapter 10
Weeks 12-14
Optimization Problems of Two or More Variables:
Chapter 11
Weeks 15
Review
FINAL EXAM
May 4, 8-11 AM, Bryan 111
ACADEMIC HONOR CODE:
Students are responsible for familiarizing themselves with the UNCG
Academic Honor Code. Procedures and penalties related to these and other
violations of the Academic Honor Policy are found at the following web
site: http://academicintegrity.uncg.edu/ as well as the Undergraduate
Bulletin 2014-2015. Any violation of the Honor Policy may result in failure
of the assignment or exam and subsequently the entire course.
ATTENDANCE POLICY:
Students are expected to attend and be an active participant in all classes
ADDITIONAL REQUIREMENTS:
None.