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Math Tools for Economists/Econ 1078-002

·Textbook
(Required)
College Mathematics for Business, Economics, Life Sciences, and Social Sciences (10th
edition): Raymond A. Barnett, Michael R. Ziegler and Karl E. Byleen
ISBN: 0-13-143209-5
Available at the CU bookstore

Note: It must be the 10th edition.
With a different edition , you will not be able to identify the problem sets covered in the
lectures or by the homework assignments.

(Optional - for those who need extra assistant - not required)
Student Study Pack for College Mathematics for Business, Economics, Life Sciences,
and Social Sciences: Raymond A. Barnett, Michael R. Ziegler and Karl E. Byleen
ISBN: 0-13-163170-5

·Exam Dates
First Midterm Exam: Feb 16 in class (5:00-)
Second Midterm Exam: Mar 9 in class (5:00-)
Third Midterm Exam: Apr 13 in class (5:00-)
Final Exam: Tuesday, May 9, 7:30-10:00 p.m. (IN THE EVENING.) (the same room as
usual.)

·Objectives
In this course, Math tools for Economists, we study basic mathematical tools that
are necessary to understand most of the advanced economic theories. Basic algebra,
probability and calculus theories will be covered.
Algebraic operations, graphs, and functions are essential if you are going to study
any of the advanced fields in economics or other social sciences.
Probability theory makes you prepared for courses that use statistics, econometrics
or economics of uncertainty.
Calculus is necessary to understand the optimization theory in microeconomics.
This course, ECON 1078, is the first course in a two-course sequence. Thus, taking
ECON 1088 after finishing it is recommended. In ECON 1088, you will study applied
calculus.

Before starting the study, please note that:
1) The instructor is a foreigner and a non-native speaker of English. If you are particular
about such attributes, please consider taking other courses at the same level.
2) It is desirable that you should be acquainted with high-school-level mathematical
techniques such as multiplication , division, or graphical presentation.

·Add/Drop
Admission will be granted according to the waitlist.
Jan 25. –Deadline to add a course without a dean' s signature
Feb 1. –Deadline to drop a course without a dean's signature
In principle, an instructor cannot assign you additional seats when the class is full.

Schedule
This course covers chapters 1-9 and appendices of the textbook. Chapters 3 and 8 as well
as Sections 4.2-4.7, 5.2-5.6, 6.3-6.4 and 7.2-7.4 will be skipped. (Though some important
topics might be discussed briefly.)
Chapters will be covered in the following way.
Appendices 1-8 → First Midterm → 1 → (4, 5) → Second Midterm → 2 → (6) → (7) →
Third Midterm → 9 → Final

Tuesday
Jan 17 introduction
Jan 24 A-1/A-2
Jan 31 A-4
Feb 7 A-6
Feb 14 A-8
Feb 21 1-1/1-2
Feb 28 1-4
Mar 7 5-1
Mar 14 2-1
Mar 21 2-3
(Mar 28 Spring Break: no class
Apr 4 6-2
Apr 11 7-5
Apr 18 9-1/9-2/9-3
Apr 25 9-5
May 2 9-7
May 9 FINAL EXAM (7:30pm)
Thursday
Jan 19 pre-test
Jan 26 A-3
Feb 2 A-5
Feb 9 A-7
Feb 16 MIDTERM 1 in class
Feb 23 1-3
Mar 2 4-1
Mar 9 MIDTERM 2 in class
Mar 16 2-2
Mar 23 6-1
Mar 30 Spring Break: no class)
Apr 6 7-1
Apr 13 MIDTERM 3 in class
Apr 20 9-4
Apr 27 9-6
May 4 general review
 

Chapter coverage schedule may be changed depending on the progress.

Appendix:
A-1 Algebra and real numbers
A-2 Basic operations on polynomial
A-3 Factoring polynomials
A-4 Basic operations on rational expressions
A-5 Integer Exponents
A-6 Rational exponents and radicals
A-7 Linear Equations and Inequalities in One Variable
A-8 Quadratic Equations
– Midterm 1 –

Chapter 1: A beginning Library of Elementary Functions
1-1 Functions
1-2 Elementary Functions: Graphs and Transformations
1-3 Linear Equations and Straight Lines
1-4 Quadratic Functions

Chapter 4: System of Linear Equations
4-1 System of Linear Equations in Two Variables

Chapter 5: Linear Inequalities and Linear Programming
5-1 System of Linear Inequalities in Two Variables
– Midterm 2 –

Chapter 2: Additional Elementary Functions
2-1 Polynomials and Rational Functions
2-2 Exponential Functions
2-3 Logarithmic Functions

Chapter 6: Logic, Sets, and Counting
6-1 Logic
6-2 Sets

Chapter 7: Probability
7-1 Sample Spaces, Events and Probability
7-5 Random Variable, Probability Distribution , and Expectation
– Midterm 3 –

Chapter 9: Calculus
9-1 Introduction to Limits
9-2 Continuity
9-3 The Derivative
9-4 Power Rule and Basic Differentiation Properties
9-5 Derivatives of Products and Quotients
9-6 General Power Rule (Chain Rule)
9-7 Marginal Analysis in Business and Economics

·Grading
Basic Rule
There are three midterm examinations before the final examination. They are NOT
cumulative.
In some questions, the derivation processes matter as well as the ultimate answers.
The final exam is cumulative (all of the semester's topics are covered.)
You can use a scientific calculator in the exam. You cannot use a graphing calculator.
You cannot see the textbook or notebooks.
All of the exams are out of 100 points.

Homework is assigned after each chapter is covered. Each counts:
15 points - the ones for chapters 1 and 2.
20 points – the ones for appendix.
25 points - the ones for chapter 9.
10 points - the ones for chapter 6 and 7.
2.5 points - the ones for chapter 4 and 5.
In total, you will receive 100 points at maximum.
Hints for solving those assignments will be given in class. Therefore, if you attend the
classes regularly, your score in “homework” section should be very good.

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