Some basic concepts of Mathematics (that we will frequently use

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Presentation transcript:

Some basic concepts of Mathematics (that we will frequently use Some basic concepts of Mathematics (that we will frequently use.. read this section of your book carefully) Functions Variables ..Discrete and Continuous (based on nature of a variable taking values)..examples in Economics? -dependent variable and independent variable (based on relationship)..examples? Little bit problematic sometimes? Positive relationship – negative relationship straight line Vs Curved lines Slope as a measurement of effect of a change in one variable.. some kind of ‘partial’ sense (more on higher level courses)

Continued.. What happens when any other independent variables change? …idea of ‘Shift’ ? Shifts Vs Movements along the line Solving equations No more on Computer – let’s use the blackboard.