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Micro Theory
Micro Theory
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Every student entering UCLA's Masters in Applied Economics has studied calculus at some stage. However, a typical university level course offered by a mathematics department focuses almost exclusively on the relationship between two variables, x and y. If, for each x there is a unique y, then the relationship is called a function and we write y = f(x).

However in economics it is very often the case that x is not a number but an array of numbers (or 'vector') . For example this array might be a list of the quantities of different inputs used by a firm in the production of a commodity. Then y = f(x) maps each array of inputs into the output that the firm can produce. (This is called a production function.)  

Understanding the calculus of functions of this type is critical to economic modelling.  Therefore as you prepare for UCLA's Masters in Applied Economics it is very important that you review the Calculus of Economics.

To help you I have provided an On-Line course 'Calculus of Econ.' As you work through it please email me if you have  any questions.

Click on the image below.

 

Calculus of Econ