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Introduction This course is a joint Mathematics and Economics course. As such, both members of the faculty responsible for the course—Dr. Christopher Curran of the Economics Department and Dr. Steven La Fleur of the Mathematics Department—anticipate being present at almost every class meeting. While this course covers many of the basic mathematical tools used by economists, it is really a course on how to use the formal tools of mathematics to understand and solve problems of interest to economists. We will introduce the mathematics of optimization in this course and show how researchers use these mathematical concepts to develop testable implications of the economic models and to sharpen their understanding of economic phenomena. As a consequence, this course demands that you use economic reasoning even while you are applying mathematical techniques. Textbooks The textbook for this course is: Curran, Christopher and Skip Garibaldi (2011). Optimization in Microeconomics (San Diego, CA: University Readers). IBBN #: 978-1-60927-735-2. You can purchase the most recent edition of the textbook directly from the publisher (at a discount) by following these directions:Step 1: Log on to . Step 2: Create an account or log in if you have an existing account to purchase. Step 3: Easy-to-follow instructions will guide you through the rest of the ordering process. Payment can be made by all major credit cards or with an electronic check. Step 4: After purchasing, you can access your partial e-book (FREE 30% PDF) by logging into your account and clicking My Digital Materials to get started on your readings right away. The text is available either in a print version or a digital format. Orders are typically processed within 24 hours and the shipping time will depend on the selected shipping method and day it is shipped (orders are not shipped on Sundays or holidays). If you experience any difficulties, please email orders@ or call 800.200.3908 ext. 503.Please be aware that this version of the textbook includes corrections of many errors that appeared in the versions used in previous semesters; used books are not a good substitute to purchasing this newer version. If you should need to read more about the topics covered in the course, you might try any of the following texts: Silberberg, Eugene and Wing Suen (2000). The Structure of Economics, Third Edition (McGraw-Hill, Inc., ISBN: 978-0071181365), Baldani, Jeffrey, James Bradfield, and Robert Turner (2004). Mathematical Economics, Second Edition (South-Western College Pub, ISBN: 978-0324183320), Klein, Michael W. Mathematical Methods for Economics, Second Edition (2001). (Addison Wesley, ISBN: 978-0201726268), or Chiang, Alpha C. and Kevin Wainwright (2005). Fundamental Methods of Mathematical Economics, 4th Edition (Boston: McGraw-Hill). The prerequisites for this course are completion of (1) Economics 201 (Intermediate Microeconomics) and (2) (2)?Mathematics 211 (Multivariable Calculus). An additional warning is appropriate here: while completing Mathematics 211 is a prerequisite to this course, students who did not master the material covered in this class will have to do some catching up at the beginning of the semester and take this course at their own risk. While not a prerequisite, some knowledge of matrix algebra is useful. Math 221 and 250 will be prerequisites for this course in the very near future.Course Material The main mathematical tool used in microeconomic analyses is some form of optimization, either with or without constraints. This semester we will introduce the main elements of the mathematics of nonlinear optimization. We will begin with a review of optimization of functions of one variable. While everyone in the class is familiar with the methods of optimizing functions of one variable, we begin with this review because almost all of the techniques we use in this relatively straightforward case reappear with the more advanced optimization techniques. After this introduction, we discuss the characterization of functions of more than one variable. This discussion covers most of the ways that economists use to analyze multivariate functions, including level curves, partial derivatives, and total derivatives. Next we introduce the techniques used to optimize multivariate functions. In particular, we discuss unconstrained optimization, optimization with equality constraints, and duality. Throughout the semester we relate the mathematics discussed in the course to key microeconomic issues including profit maximization, utility maximization, and cost minimization. Homework Assignments and Presentations Early in the semester we will split the class into groups of two to four students each. For each homework problem, one group will be assigned to present a solution to the class, and the other groups will turn in a written solution prior to the presentation. No homework turned in late will be graded. If your group is presenting the solution, it is imperative that you (A) can actually solve the problem and (B) practice presenting your solution as a group. These may sound like modest goals, but they are not. The homework problems in this class can be quite difficult. Even once you have figured out how to solve the problem, it will still take time to get your group together to practice your presentation. Each group not presenting the solution to the problem has two major responsibilities. First, each group will turn in a written solution. The members of the group who helped prepare the answer should put their names on it. (Signing a homework answer without contributing to the solution is an Honor Council offense, as is allowing someone else to do so.) If a member of that group did not contribute to the solution or disagrees with the other members' solution, then they must turn in their own answer to the problem. However, this should happen rarely and only under an extraordinary circumstance. You will be expected to work regularly and productively with your group. Second, we expect all students who are not presenting an answer to a question to be active members of the audience. By active we mean that you are expected to ask questions of the group presenting the answer to a question when their presentation is unclear or incorrect. We also expect you to help the students presenting the answer to a question if they get stuck. All groups will get an equal number of opportunities to present answers to the problems.The role of the groups in this course is very important. We will expect you to sit in every class with your group and with your name plate placed prominently on your desk. We will hand out name plates for your use once we have formed the groups.Your presentations will be graded and are an important part of the course. While your presentation is valuable practice for you (at giving presentations as a group), it is also valuable to your fellow students because you will be showing them the correct solution to the problem that they just turned in. Therefore, we expect you to present a correct and complete solution to the problem. To put it another way, if your presentation is a B+ solution, it’s a disaster. Your presentation should be an A+ solution to the problem.Here are two concrete suggestions to help you achieve this goal. First, practice your presentation as a group. That way, you can see what your partners are planning to say and do at the board. You have a direct personal interest in them doing a good job: If they do something wrong or incomplete in the actual presentation, it will hurt both their grade and your grade! Second, consider coming to our office hours as a group before you present and talk about your problem with us. We are happy to answer questions or give suggestions on your presentation. As problem presenters, you have extra privileges over the other groups in this regard.Grading PolicyHomework grades and in-class participation—specifically, the presentations, attendance and class participation —are worth 25 percent of the final grade. The mid-term examination is worth 30 percent of your final grade. The final examination is worth 45 percent of your final grade. We will give the first exam in our regular classroom on the evening of Thursday, March 5th. The final exam is on Monday, April 30th 6:30 PM to 9:00 PM in our regular classroom. Remember that the Honor Code applies to all work completed for the course this semester. Late Arrivals and AbsencesWe expect you to be in class on time at 1:00. Arriving late is rude and distracting. Arriving late to class on a regular basis will have a negative impact on your class participation grade. Absences create problems both when they occur during a regular class meeting time and when an exam is scheduled. In the case of class meetings, we understand that there will be times when missing class might be unavoidable. However, these times should not be on days when your group is responsible for presenting the answer to a homework problem. Moreover, it is your responsibility to obtain the class notes and assignment from another student. Moreover, class attendance forms a part of your class participation grade.Missing either the midterm or the final creates a most serious problem. Our policy is to offer no makeups for the midterm. Thus, it is important so be sure to schedule any travel so that you will be in class for the midterm and the final. A student who fails to take the midterm at the scheduled time must obtain written permission from the Office of Undergraduate Education. Should the Office of Undergraduate Education grant permission for a student to miss the midterm, we still will not offer a makeup for the midterm. Instead, we will count the final exam as 75% of the final grade—that is, we will not offer a makeup of the midterm but will use the grade on the final as the grade for the missed midterm.Honor Code StatementThe College Honor Council has asked all faculty to include the following statement in all course syllabi:The honor code is in effect throughout the semester. By taking this course, you affirm that it is a violation of the code to cheat on exams, to plagiarize, to deviate from the teacher’s instructions about collaboration on work that is submitted for grades, to give false information to a faculty member, and to undertake any other form of academic misconduct. You agree that the teacher is entitled to move you to another seat during examinations, without explanation. You also affirm that if you witness others violating the code you have a duty to report them to the honor council.Additional InformationIf you have any problems or need additional help, contact either Professor La Fleur (slafleu@emory.edu) or Professor Curran (econcc@emory.edu, or ccurran@) for an appointment. Dr. La Fleur’s office hours are Monday, Wednesday, and Friday from 1:30 until 2:30. Dr. Curran’s office hours are Tuesday from 9:30 to 11:30 and from 1:30 until 3:30. Dr. La Fleur’s office is W402 in the Mathematics and Science Center; Dr. Curran’s office is 325 in the Rich rmation from the Office for Undergraduate EducationThe Office for Undergraduate Education (OUE) central office is located in White Hall 300Please visit or call 404.727.6069 with questions about academic affairs, concerns or policies. All Emory College of Arts and Sciences policies may be found in the College Catalog: College Policies For a full list of Religious Holidays can be found here: Religious holidaysAcademic Advising and Class DeansIf you have any academic concerns or questions about Emory College of Arts and Sciences policies, you should first meet with an OUE academic adviser. If an academic adviser is unavailable to meet with you, you may meet with an OUE dean during open hours.OUE Academic Adviser appointments: Visit White Hall 300 or call 404.727.6069Deans’ Open Hours: SupportThere are a range of resources available to Emory undergraduates designed to enrich each student’s educational experience.Visit for a list of support programs and appointment directionsImportant Spring Semester DatesMonday, January 12th First Day of Classes – GRADUATE SCHOOLTuesday, January 13th First day of Classes – Emory College, Business SchoolMonday, January 19th Martin Luther King, Jr. Holiday – University closedTuesday, January 20thLast Day for Schedule Changes (Drop/Add) (4:00 p.m.)Tuesday, January 29th Last Day for Grading Basis changes [Letter Grade-Satisfactory/Unsatisfactory] (L/G - S/U)Friday, January 30th Deadline for Completion of Incomplete WorkFriday, February 6th DEGREE APPLICATIONS DUE IN COLLEGE OFFICE Summer school pre-registration begins at 7:00 a.m.Friday, March 6th Last Day to Withdraw without penaltyMarch 9-13 Spring BreakMonday, March 23rd Pre-registration begins for Seniors for Fall 2015 (75+ hours)Friday, April 3rd Late withdrawal deadline for first-year students-one time partial withdrawalMonday, April 20th ADD/DROP/SWAP opens for Fall 2015Monday, April 27th Last Day of Classes, UCOL, UBUS, LGSApril 28th–29th Reading DaysApril 30, May 1, 4, 5, 6 Final Exams for Emory College, Business SchoolMonday, May 11th CommencementAccess and Disability ResourcesStudents with medical/health conditions that might impact academic success should visit Access, Disability Services and Resources (ADSR formerly the Office of Disability Services, ODS) to determine eligibility for appropriate accommodations. Students who receive accommodations must present the Accommodation Letter from ADSR to your professor at the beginning of the semester, or when the letter is received. Honor CodeUpon every individual who is a part of Emory University falls the responsibility for maintaining in the life of Emory a standard of unimpeachable honor in all academic work. The Honor Code of Emory College is based on the fundamental assumption that every loyal person of the University not only will conduct his or her own life according to the dictates of the highest honor, but will also refuse to tolerate in others action which would sully the good name of the institution. Academic misconduct is an offense generally defined as any action or inaction which is offensive to the integrity and honesty of the members of the academic community. The Honor Code, a list of offenses and the Honor Council process may be found at: ................
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