ECON 255

An introduction to the use of mathematics in economic analysis. The first part of the course will concentrate on techniques for constrained and unconstrained optimization, as applied to problems of firm and consumer behaviour. This will lead to the interpretation of Lagrange multipliers as shadow prices. The second part of the course will show how matrix algebra may be used to study problems of production and allocation in interdependent economies.

Prerequisites: 
ECON 110 or [ECON 111 and ECON 112];
MATH 120 or MATH 121 or [MATH 123 and MATH 124] or MATH 126