Econ 385: Mathematical Economics
Professor Robert J. Lemke
Department of Economics and Business
Lake Forest College
Spring 2014

Contact Information:
Office: 418 Young Hall
Phone: 847-735-5143
E-mail: lemke@lakeforest.edu
Web: http://campus.lakeforest.edu/~lemke/econ385/index.html

Course Description:
Calculus and linear algebra are applied to the analysis of microeconomic and macroeconomic theory. The tools for mathematical optimization are developed with a particular focus on comparative statics. Issues of discrete and continuous time and uncertainty in economics are explored. Prerequisites: Math 111 and Econ 210 or 220; or permission of instructor.

Target Audience:
This class provides an introduction to the application of mathematical methods to economic problems. A solid understanding of caluculus is required. It would also be useful to have taken Math 230: Abstract & Discrete Mathematics and Math 231: Linear Algebra, but neither is required. The class will be particularly useful to students planning on pursuing a Ph.D. in economics or wanting to apply their training in mathematics to a social science. The logic associated with using math to solve economics problems is a skill also valued by other programs of advanced study.

Texts:
Students must purchase or have access to a friend's copy of Introductory Mathematical Economics, Second Edition, D. Wade Hands, Oxford University Press, 2004. The ISBN number is 0-19-513378-1. Copies are available in the college bookstore, but you can also purchase new and used copies from a variety of online bookstores. We will cover the entire book during the semester. I maintain an errata to the book, which is found as a PDF file on-line here: Errata. You should record the corrections in your text, and please let me know if you find any other typos. (Extra credit for new-found typos.)

Office Hours:
Office hours are 11:00 - 12:50 Mondays, Wednesdays, and Fridays. Outside of stopping by my office, which is the best way to contact me, you should e-mail me at lemke@lakeforest.edu. You can also phone my office (x5143) or my cell (847-224-8928).

Class:
Class meets 10:00 - 10:50 MWF in 313 Young Hall. Daily attendance and active participation during class is required. Class participation includes asking questions, answering questions, and presenting answers from the problem sets.

Problem Sets:
Problem sets will be assigned regularly. Students will present many of their answers to the class. You are encouraged to work the problem with others, and to turn in a single set of answers with all group members' name on the paper.

Exams:
There will be four exams; three during the semester and one during the final exam period (1:30 - 4:30 on Saturday, May 3), with equal weight on each.

Grading Policy:
Your overall weighted percentage for the class will depend on class participation and problem sets (30%) and exams (70%). The conversion of your overall percentage into a letter grade will be according to the typical 90, 80, 70, 60 system with pluses and minuses assigned in the usual fasion.