IMS Content 1.2 <langstring xml:lang="en-US">WinEcon - Mathematics for Economics and Business</langstring> An interactive mathematics course for economics and business. interactive mathematics course for economics and business WinEcon - Mathematics for Economics and Business Functions in Economics Introductory Mathematics Introduction About Introductory Mathematics for Economists Coordinates and Graphs Variables and Functions Basic Rules of Algebra Fractions and Sharing Powers and Indices Summary of the Basics Functional Relationships in Economics: Book 1.1 - 1.5 Introduction Economic Problems - Basic Mathematics Objectives and Actions: Looking Ahead The Demand Curve of an Individual Deriving the Short-Run Average Fixed (AFC) and Average Variable Cost (AVC) Curves Short-Run Production Functions: a numerical example Optimal Consumption Choice Using Functions in Economics: Book 1.8 - 1.12 Introduction Factors Affecting Demand Short-Run Production Functions: a numerical example (Section 3) Economic Problems - Basic Mathematics (Section 3) Short-Run Cost Definition Profit Maximisation Marginal Cost and Revenue at Profit Maximisation Profit Maximisation by a Monopolist Profit Maximisation for a Monopolist using MC and MR Equations in Economics Solving Equations Introduction Transposition Linear Equations Quadratic Equations Simultaneous Equations Exponential Functions Logarithmic Functions Summary of Equations Market Equilibrium and CVP analysis: Book 2.1 - 2.5 Introduction Economic Problems - Equations Factors Affecting Demand (Ch 2) The Demand Curve of an Individual (Ch 2) Market Equilibrium Shifts in an Individual's Demand Curve Shifts in the Supply Curve of a Firm CVP: graphical analysis CVP: algebraic analysis Equation Showing CVP Required Output Level Economic Analysis for Equations Topics: Book 2.7 - 2.14 Introduction Changing the Budget Line Optimal Consumption Choice (Ch 2) Discovering Indifference Curves Assumptions of Indifference Curves Profit Maximisation (Ch 2) Marginal Cost and Revenue at Profit Maximisation (Ch 2) Fixed and Variable Costs Short Run Supply Trends in Levels and Logarithms Macroeconomic Models Using Functions and Equations Introduction Macroeconomic Model Specification: Book 3.2 Introduction Accounting Identities in the Circular Flow Taxation Consumer Demand and Disposable Income Saving Aggregate Demand in the Goods Market Summary Identifying Equilibrium Income: Book 3.3 Introduction Solution Method 1: Aggregate Demand equals Aggregate Output/Income Solution Method 2: Planned Withdrawals equals Planned Injections Keynesian Cross Model: Book 3.4 Introduction Goods Market Equilibrium Keynesian Cross Diagram Equilibrium Values for Other Variables IS-LM Analysis: Book 3.5 Introduction The Money Market and Equilibrium Interest Rate The LM Curve and Equation LM Curve: Equation Derivation The Consumption Demand Function The Investment Demand Function The IS Equation and Curve: Equation Approach IS-LM Equilibrium Changes Rates Finance and Series Introduction to Changes Rates Finance & Series Introduction Summary - Sequence & Series Changes over Time: Book 4.5 - 4.6 Introduction Nominal and Real Interest Rates Positive and Negative Real Interest Rates Real Interest Rates in Various Countries Trends in Levels and Logarithms (Ch 4) Net Present Value: Book 4.8 Introduction Present Value & Cash Flow Net Present Value Evaluate Your Own Project Economic Problems - Sequences Series and Annuities: Book 4.9 - 4.10 Introduction Sequences and Series Economic Problems - Sequences (Section 4) Prices of Bills & Bonds and the Rate of Interest: Book 4.11 Introduction Bills and Bonds Differentiation in Economics Introduction to Differentiation for Economists: Book 5.1 - 5.2 Introduction About Intermediate Mathematics for Economics Why Economists use Differentiation The Basic Rules of Differentiation: Book 5.3 Introduction The Basic Rules of Differentiation Worked Examples A Summary of The Basic Rules of Differentiation Practice Differentiation Application to Economic Analysis: Book 5.4 - 5.9 Introduction Example One - Utility Functions Example Two - Revenue Functions Short-Run Production Functions: a numerical example (Ch 5) Example Three - Cost Functions Point Elasticity - Linear Demand Curve Point Elasticity - Non-linear Demand Curve Price Elasticity and the Slope of the Supply Curve Maximum and Minimum Values Finding Maximum and Minimum Values: Book 6.2 Introduction Identifying Maximum & Minimum Values Checking for Maximum or Minimum Turning points Rules for Finding a Maximum or Minimum Maximum and Minimum Values in Economics: Book 6.3 - 6.5 Introduction What Happens at a Maximum? Example One - Maximum Profit Profit Maximisation (Ch 6) Marginal Cost and Revenue at Profit Maximisation (Ch 6) Profit Maximisation by a Monopolist (Ch 6) Profit Maximisation for a Monopolist using MC and MR (Ch 6) Example Two - Minimum Average Cost Further Rules of Differentiation Differentiation Rules and Applications: Book 7.2 - 7.5 Introduction The Chain Rule The Product Rule The Quotient Rule Further Rules of Differentiation - A Summary Example One - Marginal Revenue (Product Rule) Price Elasticity and Total Revenue Differentiating Logs and Exponentials: Book 7.7 Introduction Rules for Differentiation of Logs/Exponentials Natural Logarithmic & Exponential Functions Practise Differentiating Logs/Exponentials Partial Differentiation in Economics Using Partial Differentiation: Book 8.2 8.6 8.7 and 8.9 Introduction Marginal Product of Labour and Capital Practice Partial Differentiation Optimal Consumption Choice (Ch 8) Cross Elasticity of Demand The Shape of the Isoquant: marginal rate of substitution Producing at Minimum Cost Cost Minimisation for a Fixed Output Level Maximum Output for a Fixed Budget Optimisation of Multivariate Functions: Book 8.11 Introduction Optimisation of Multivariate Functions Constrained Maxima and Minima Optimising subject to a Constraint: Book 9.1 Introduction Constrained Optimisation Using the Substitution Method: Book 9.2 Introduction The Substitution Method Using the Lagrange Multiplier Method: Book 9.3 Introduction The Lagrange Multiplier Method Integration in Economics Measuring the Area Under a Curve: Book 10.5 Introduction Market Consumer Surplus