Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
ECON131  Quiz Week 11
Student Name: _
Student ID:
_
Tutorial Day & Time: _
Chain Rule:
dy dy du
dx du dx
Product rule:
dy
dv
du
u v
dx
dx
dx
Quotient rule:
dy u ' v v 'u
dx
v2
Question 1
The sales of
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
FORMULAE
To find the roots of a quadratic equation: ax2 bx c 0
b b 2 4ac
2a
i
Pt P0 1
m
mt
Pt P0eit
a ar ar . ar
2
Chain Rule:
n 1
r n 1
ar a
k 0
r 1
n 1
k
dy dy du
x
dx du dx
Product Rule:
d
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
FAMILY NAME.
OTHER NAMES.
STUDENT NUMBER.
SIGNATURE.
ECON131
QUANTITATIVE METHODS IN ECONOMICS,
BUSINESS AND FINANCE
SESSION 2, 2017
CLASS TEST
VERSION xx
Date:
Monday October 30th, 6pm
Time Allowed:
Econ131 Formulas
Demand & Supply
P = mQ + C (where P is Price, Q is Quantity)
Demand & Supply with Tax
(P t) = mQ + C (where t is tax)
Budget Line
M = x.Px + y.Py (where M is Income, Px is Price of x,
SECTION A
Question 1:
Using factorization, solve for x where x2 + 6x + 5= 0
Question 2:
The supply and demand of widgets are given by the equations:
QS 15P 30
QD 300 10P
Suppose the government imposes
ECON131 QUANTITATIVE METHODS IN ECONOMICS, BUSINESS & FINANCE
Solutions for Week 11
Question 1
Write down expressions for the first and second order partial derivatives for:
a. z x 2 4 y5
b. z 3x3 2e
1)
IF
1:
E
12
ENTM
T
to
k)
 I
5
lo
Pa,
0?
a 1
Gr
3
n a;
on
: M
SbL/ X+C
10" L
>
J ._ a:
Z2x + 3 my
04
L9
J.
FArU
up
4.
Slope.
a
S
10
.
979
0.
mar
an]
m
H
on
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4H.
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Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
Chapter 3 Mathematics of Finance
Roselyne Joyeux
1
Lecture Outline
Percentages
Index numbers
Compound Interest
Geometric series
Future and present discounted values
2
Review of Percentage
A percentage
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
Chapter 4 Differentiation
PART 2: Jacques Sections 4.3, 4.4
Lecture Outline
Applications of differentiation
2
Marginal revenue and marginal cost
Monopoly and competition
Marginal product of labour
MPC
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
Chapter 4 Differentiation
PART 3: Jacques Sections 4.5, 4.6, 4.7
Lecture Outline
Optimisation of Economic Functions (sections
4.6 and 4.7)
Elasticity (4.5)
2
Arc elasticity
Elasticity evaluated at a
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
Chapter 4 Differentiation
PART 1: Jacques Sections 4.1 and 4.2
Lecture Outline
Basic concepts
Graphical interpretation of derivatives
Rules for differentiation
2
Introduction to Differentiation
Reca
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
Chapter 7
Matrices
Roselyne Joyeux
1
Chapter Outline
Basic Matrix Algebra
Matrix Inversion
2
Application to solving systems of linear equations
Matrix Algebra: Definitions
A matrix consists of a recta
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
Chapter 1 Linear Equations
Text book: Sections 1.3 to 1.7
1
Graphs of linear equations
coordinates
(5, 6)
yaxis
=6
=5
origin
Figure 1.1
2
xaxis
Linear equation forms
The general equation of a straig
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
Chapter 5
Functions with more than one variable
Partial differentiation
Roselyne Joyeux
1
Chapter Outline
Section 5.1, 5.2, 5.4 to 5.6 of Jacques (not 5.3)
Definition of a function with more than one
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
EXCEL
Spreadsheets provide a convenient way of solving a range of problems in economics and business.
We present a collection of examples linked to the material in specific sections of the textbook. E
ECON131 QUANTITATIVE METHODS IN ECONOMICS, BUSINESS & FINANCE
Solutions for Week 10
Question 1
Assume that the price of x is $4 and the price of y is $1:
a) Find the maximum value of = 10 if a consume
ECON131 QUANTITATIVE METHODS IN ECONOMICS, BUSINESS & FINANCE
Tutorial for Week 3 Solutions
1. Suppose that the supply and demand functions of a good are given by:
Supply:
Demand:
a) Transpose the for
ECON131 QUANTITATIVE METHODS IN ECONOMICS, BUSINESS & FINANCE
Solutions for Week 5
Question 2
A production function, for production output, Q, is given by:
Q 2L1/2 K 2/3
This is a CobbDouglas Product
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
THINGSTOREMEMBER(AMONGSTOTHERS)FORECON131
Solvingsimultaneousequations
NonLinearFunctions
2
Tofindtherootsofaquadraticequation:ax +bx+c=0
x
FinancialMathematics
i
Pt P0 1
m
mt
Pt P0eit
m
i
APR 1 1
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
ECON131
QUANTITATIVE METHODS IN ECONOMICS, BUSINESS & FINANCE
Tutorial for Week 8
(Week beginning Monday 2nd October, 2017)
1. A companys supply function is Q = 10 + 0.2P + 0.04P 2
a) Find the price e
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
ECON131
Quantitative Methods in
Economics, Business and Finance
Session 2, 2017
Assignment (v3)
Due: November 17th, 2017, 11 am
1
PLEASE READ THIS DOCUMENT CAREFULLY
Students have been assigned differ
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
ECON131
QUANTITATIVE METHODS IN ECONOMICS, BUSINESS & FINANCE
Tutorial for Week 3
(Week beginning Monday 14th August, 2017)
1. Suppose that the supply and demand functions of a good are given by:
Supp
Quantitative Methods in Economics, Business and Finance
ECON 131

Fall 2014
MKTG204
Integrated Marketing Communications
Department of Marketing and Management
Faculty of Business and Economics
Assessment Tasks and Marking Criteria
Offered in Session 2, North Ryde 2017
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