Faculty of Liberal Arts & Professional Studies

Department of Economics

(Preliminary: August 27, 2018)

Course: AP/ECON 1530 B – Introductory Mathematical Economics I

Course Webpage: https://moodle.yorku.ca/moodle/course/view.php?id=134312

Please check this regularly for problems sets, answers, past tests and exams, notes and
announcements.

Term: Fall Term of Academic Year 2018-2019

Prerequisite / Co-requisite:

1. Grade 12U Advanced Functions or equivalent.

2. AP/ECON 1000 3.00 or AP/ECON 1010 3.00, or equivalent. Strongly recommended completion:
high-school calculus or equivalent.

Course Credit Exclusions:

SC/MATH 1000 3.00, SC/MATH 1013 3.00, SC/MATH 1300 3.00, SC/MATH 1505 6.00,
SC/MATH 1513 6.00, SC/MATH 1530 3.00, SC/MATH 1550 6.00, GL/MATH/MODR 1930 3.00.
Note: Acceptable course substitutes are available in the Calendar.

Course Instructor Contact

Name: Barry Smith

Office: 1078 Vari Hall
Phone: 647-454-2231 (accepts texts and phone calls)
Office Hours: MW 11:30-1:00 and by other times arranged via email.
TR 12:00-1:30 with Professor Rilstone in VH1032.
TBA Drop in tutorials
Email: maecsta@yorku.ca

Time and Location

Lectures: M 2:30-4:30, W 2:30-3:30 Chemistry Building, Room 121

Teaching Assistant(s)

Name: TBA
Office:
Email:
Office hours:

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Course Description

Overview: This course introduces and develops topics in differential calculus, integral calculus,
and their applications in economics. Topics will include a review of algebra, linear equations,
quadratics, general functions of one variable, continuity, limits and derivatives of single-variable
functions, series, exponential and logarithmic functions, single-variable optimization,
constrained optimization and integration. Applications to topics in economics will include (but not
be limited to) supply and demand functions, maximization of revenue and profits, elasticity of
demand and consumers’ surplus.

Details: Economists are interested in microeconomic models of the behavior of agents

(demanders and suppliers) in individual markets. Economists are also interested in
macroeconomic models of aggregated markets and total consumption, investment and
government spending as well as interest rates, exchange rates and money supply. This interest
manifests itself at both a theoretical and empirical level. In all cases it is important that
economists describe their areas of interest, their models and their results in a precise manner.
The natural way to do this is to write models and study their properties using a language or
languages that are rich and precise and which are used by most economists in the profession.
These languages are mathematics and statistics. Our goal in this course is to review and
develop the mathematics needed for you to be able to both understand the statement of
economic models and for you to analyze and derive properties of economic models.

Learning Process: You are expected to attend lectures and to solve the problems that are
assigned each week. Your understanding of the course material will become deeper and
broader the more you practise. You can’t simply read mathematics and expect to understand or
retain ideas or solve problems.

Course Text

Knut Sydsaeter and Peter Hammond, Essential Mathematics for Economic Analysis,
Fifth Edition (ISBN 9781292074719), Pearson.

Weighting of Course Components

Midterm Test: Wednesday October 24, 2018 (during class time) 25%
Pop Quizzes: 3 at random throughout the course. Best two count 5% each
Final Exam During Final Exam Period: December 6-21, 2018 65%
Exam date for this course will be set by the Registrar’s Office

Additional Information

The midterm test is optional. If you choose to write it, your midterm grade can count 25%
towards your final course grade. If you write the term test and do you not like your grade, you
can have the weight of the test added to the final exam. Warning! You should write the term
test. Writing the test does not guarantee that you will pass the course. However, students who
do not write the test tend to fail the course. It helps to prepare you for writing exams.

The 3 pop quizzes will occur in the term at randomly determined times. If you are present for the
quiz, you automatically get 2.5 of the 5 marks. The rest is determined by the quality of your
answers. On days when the pop quizzes take place, nobody entering 10 or more minutes late
will be allowed to write the quiz. If you miss a quiz, you get a grade of 0 for the quiz.

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The final exam will be cumulative and will cover all materials discussed in class and the
assigned problems. The date of the final exam will be scheduled by the Registrar’s office. The
final exam will have 50% of the questions in common with all other sections of 1530.
There are no deferred tests or exams. Students absent from the midterm test will automatically
have their final exam determine 90% of the course grade. Students absent from the final exam
will have to petition to the Faculty of Liberal Arts and Professional Studies for a makeup exam.

The grading scheme for the course conforms to the 9-point grading system used in
undergraduate programs at York (e.g., A+ = 9, A = 8, B+ = 7, C+ = 5, etc.). Tests and final exam
grades will be numeric. They can be transformed to a letter grade using the following scale: A+
= 90 to 100, A = 80 to 89, B+ = 75 to 79, etc.

Organization of the Course

Topics Outline

Please review Chapter 1 on your own. The topics that will be covered in class are as follows:

0. Review of Algebra, Chapter 2. (Sept 5, Sept 10)

 Real Numbers, Section 2.1
 Integer Powers, Section 2.2
 Rules of Algebra, Section 2.3
 Fractions, Section 2.4
 Fractional Powers, Section 2.5
 Single and Double Inequalities, Section 2.6
 Intervals and Absolute Values, Section 2.7

1. Equations, Chapter 3 (Sept 10, Sept 12)

 How to Solve Simple Equations, Section 3.1
 Equations with Parameters, Section 3.2
 Quadratic Equations, Section 3.3
 Linear Equations in Two Unknowns, Section 3.6
 Nonlinear Equations, Section 3.4

2. Functions of One Variable, Chapter 4 (Sept 12, Sept 17, Sept 19)
 Introduction, Section 4.1
 Basic Definitions, Section 4.2
 Graphs and Functions, Sections 4.3
 Linear Functions, Sections 4.4
 Linear Models, Section 4.5
 Quadratic Functions, Section 4.6
 Power Functions and Polynomials, Sections 4.7-4.8

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3. Differentiation, Chapter 6 (Sept 24, Sept 26, Oct 1, Oct 3, Oct 15)
 Slopes of Curves, Section 6.1
 Tangents and Derivatives, Section 6.2
 Increasing and Decreasing Functions, Section 6.3
 Rates of Change, Section 6.4
 A Dash of Limits, Section 6.5
 Simple Rules for Differentiation, Section 6.6
 Sums, Products, and Quotients, Section 6.7
 Chain Rule, Section 6.8 & Chapter 5, Section 5.2 pp. 134--135
 Higher-Order Derivatives, Section 6.9

4. Derivatives in Use, Chapter (Oct 17, Oct 22)

 Implicit Differentiation, Section 7.1
 Economic Examples, Section 7.2
 Differentiating the Inverse, Section 7.3 & Chapter 5 , Section 5.3
 The Differential of a Function and Approximation Section 7.4 pp. 217--220
 Why Economists Use Elasticities, Section 7.7

5. Limits, Continuity, Series and L’Hopital

 Continuity Chapter 7, Section 7.8
 More on Limits Chapter 7, Section 9
 Infinite Sequences and Geometric Series Chapter 7, Section 9, Chapter 10, S 4
 Exponential Functions, Section 6.10 & Chapter 4, Section 4.9
 Logarithmic Functions, Section 6.11 & Chapter 4, Section 4.1
 Present Value Chapter 10, Section 3
 Total Present Value Chapter 10, Section 5
 Mortgages Chapter 10, Section 6
 L’Hopital’s Rule Chapter 7, Section 12

6. Single-Variable Optimization, Chapter 8

 Introduction, Section 8.1

 Simple Tests for Extreme Points, Section 8.2
 Economic Example, Section 8.3
 The Extreme Value Theorem Section 8.4
 Further Economic Examples, Section 8.5
 Local Extreme Points, Section 8.6
 Inflection Points Convexity and Concavity, Section 8.7
 Present Value, Chapter 10, Section 10.3

7. Integration, Chapter 9
 Indefinite Integrals, Section 9.1
 Area and Definite Integrals, Section 9.2
 Properties of Definite Integrals, Section 9.3
 Economic Applications, Section 9.4
 Integration by Parts, Section 9.5
 Integration by Substitution, Section 9.6
 Integration over Infinite Intervals 9.7

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Important Course Information for Students

Important Dates:
 September 5, 2018 Courses start
 September 18, 2018 Last day to enroll without permission of instructor
 October 2, 2018 Last day to enroll with permission of instructor
 October 6-12, 2018 Fall reading days (No classes, University is open)
 November 9, 2018 Last day to drop course without a grade
 November 10 - December 4, 2018 Voluntary drop period, grade of W on transcript
 December 4, 2018 Classes end
 December 5, 2018 Study day
 December 6-21, 2018 Fall exam period. Exams dates are set by the Registrar. Special
exam dates cannot be set by the instructor. Do not pre-book travel that could conflict
with the final exam date.

Other Important Information:

The Senate Committee on Curriculum & Academic Standards (CCAS) provides a Student
Information Sheet that includes:

 York's Academic Honesty Policy and Procedures / Academic Integrity Web site
 Access/Disability
 Religious Observance Accommodation
 Student Code of Conduct

Additional information:

 Academic Accommodation for Students with Disabilities

 Alternate Exam and Test Scheduling
 Grading Scheme and Feedback Policy
The Senate Grading Scheme and Feedback Policy stipulates that (a) the grading
scheme (i.e. kinds and weights of assignments, essays, exams, etc.) be announced,
and be available in writing, within the first two weeks of class, and that, (b) under
normal circumstances, graded feedback worth at least 15% of the final grade for
Fall, Winter or Summer Term, and 30% for ‘full year’ courses offered in the
Fall/Winter Term be received by students in all courses prior to the final
withdrawal date from a course without receiving a grade.

 "20% Rule"
No examinations or tests collectively worth more than 20% of the final grade in a
course will be given during the final 14 calendar days of classes in a term. The
exceptions to the rule are classes which regularly meet Friday evenings or on
Saturday and/or Sunday at any time, and courses offered in the compressed
summer terms.
 Final course grades may be adjusted to conform to Program or Faculty grade
distribution profiles.