University of Waterloo

Department of Economics
ECON 211: Introduction to Mathematical Economics
Fall 2015
Class Time: Wed. & Fri. 8:30 - 9:50 am
Classroom: AL 105
Instructor and T.A. Information
Instructor: Predrag Rajsic
Office: HH 162
Office Phone: 519-888-4567 ext. 30174 (please do not leave voice mails)
Office Hours: TBA.
Email: prajsic@uwaterloo.ca
T.A. Information: TBA.

Notes on office hours or contacting instructor

Office hours for the Final Exam Period will be announced in November.
If a student is not able to meet during office hours, I am open to arranging a mutually convenient
appointment via email.
When sending email to your instructor, always use your University of Waterloo email account. ECON
211 must appear in the subject line and the message must include your full name and student ID
number.
Economics Clinic: Fall term hours and locations to be announced.
Where to find this course outline:
This course outline is available at two locations for the duration of the term:
Department of Economics website https://uwaterloo.ca/economics/currentundergraduates/courses-and-outlines
LEARN web site (requires UW user id and password) http://learn.uwaterloo.ca

Course Description
This course introduces students to the application of mathematics to problems in economic theory. We
will cover the key concepts needed to describe the theory of human choice in a mathematical form.
Much of the tools covered in this class are used in later microeconomics and statistics classes.
Topics include an introduction to matrix algebra, differentiation, partial derivatives, optimization
techniques including constrained optimization -- all developed within the context of economic theory.
[Note: Students should complete ECON 211 by their second year.] Prereq: ECON 101; one of MATH
104, 4U Advanced Functions, 4U Calculus and Vectors; Not open to students in the Faculty of
Mathematics. Antireq: MATH 106/125, 109, 115, 116, 117, 118, 119, 128, 136, 138, 146, 148
Note that Math 104 or its equivalent is a pre-requisite.
1

Math 104
Introductory Calculus for Arts and Social Science: An introduction to applications of calculus in business,
the behavioural sciences, and the social sciences. The models studied will involve polynomial, rational,
exponential and logarithmic functions. The major concepts introduced to solve problems are rate of
change, optimization, growth and decay, and integration.

Course Goals and Learning Outcomes

This course, together with Econ 311, provides students with the mathematical background required to
complete Econ 221, Statistics for Economists, and the core third- and fourth-year courses in economic
theory and econometrics.
Upon completion of this course, students should be able to:
Understand and apply the basic mathematical techniques to economic problems;
Reason about general economic concepts in a systematic, theoretically grounded way;
Use graphical, algebraic and verbal means to express and communicate economic ideas and
concepts.

Required Text
Michael Hoy, John Livernois, Chris McKenna, Ray Rees and Thanasis Stengos, 2011,
Mathematics for Economics, third edition (Cambridge, MA: MIT Press), together with its
Solution Manual.
The UW BookStore has the 3rd edition of the textbook package. A copy of the 3rd edition will be available
on course reserve (https://www.reserves.uwaterloo.ca/). The 2nd edition is also acceptable.
Readings Available on LEARN
LEARN web site http://learn.uwaterloo.ca
Announcements, lecture slides, midterm solutions, assignment solutions
Practice questions
Bi-Weekly Review Assignments (see below under Bi-Weekly Review Assignments)
The LEARN site is down occasionally. Save the course materials to your computer as soon as they are
posted. Always be prepared!
Examinations in this course are based on the material contained in the textbook and the presented
lecture content (which are strong complements, not substitutessee Policy on Class Attendance).

Course Requirements and Assessment

The midterms will be written in the class period on the dates specified below and the best result will be
worth 20% of your final grade with the second best result being worth 15% of your final grade.
2

The final exam, which will be scheduled by the registrar during the examination period in December, will
constitute 55% of your final grade and will be comprehensive (i.e., cover all course material from
beginning to end).
Assessment
Bi-Weekly Review Assignments
Midterm #1
Midterm #2
Final Examination
Total

Date of Evaluation
TBA
Oct 9 (in-class)
Nov 13 (in-class)
Exam Period (scheduled by Registrars Office)

Weighting
10%
15% or 20%
15% or 20%
55%
100%

Bi-Weekly Review Assignments

The purpose of the bi-weekly review assignments is to help students identify and understand
key new concepts covered in the lectures and in the textbook as we progress through the
course.
The format of the assignments will be short-answer questions.
Assignments that are not submitted on time will automatically receive a grade of zero.
The exact time for each assignment and any other relevant information will be announced in
class and posted in the LEARN News section.

Midterms and the Final Exam

The format for both midterms and the final exam will be a mix of true-false or multiple-choice
questions and written (short answer) problems.

The midterm test will be written during the class time.

The final exam period for the Fall Term 2015 is December 8 22 inclusive. Students are
expected to be available during this time. Travel plans are not acceptable grounds for granting
an alternative final examination time. http://uwaterloo.ca/registrar/finalexaminations/examination-regulations-and-related-matters

The exact date and time for the final exam for this class will be determined by the Registrars
Office. The exam schedule is posted online, will be announced in class, and posted on LEARN.

Only the Registrars Office can issue final grades.

This grading policy will be implemented strictly for all students in the course (with the exception of
verified illnesses see below).
Missing a Midterm Due to Illness during the Term

Missing a midterm will automatically result in a grade of zero for that midterm. If the illness can
be documented with a UW Verification of Illness Form (the only acceptable document), with
approval you may transfer the weight of the missed midterm to the final exam. This remedy is a
privilege and not a right.
3

The midterm exam schedule has been set and will not be changed for whatever reason (no
make-up midterm exams will be offered).

Missing the Final Exam Due to Illness

Missing the final exam is a very serious matter which automatically results in a grade of zero for
the final exam and possibly a failing grade for the course. Please carefully read the Economics
Department policy on deferred final exams for instructions.

No deferred final exam will be provided for students who mi ssed all the exams (including the
final exam) in this course

Economics Department Deferred Final Exam Policy

Deferred Final Exam Policy found at https://uwaterloo.ca/economics/currentundergraduates/policies-and-resources/deferred-final-exam-policy.
Policy on remarking of Tests: If you feel that your test was not marked properly, you must advise the
instructor within 5 business days of the date on which the test is handed back to the class. Any student
that submits a test for remarking should understand that the entire test will be remarked and that their
grade may improve, remain unchanged or perhaps even decrease as a result of the remarking process.

Course Outline
This class schedule is ambitious. Modifications and/or eliminations of certain content might be required
given our limited time together. Any necessary modifications or eliminations to the course content will
be communicated to you in the regular class period.
Week
1

Date
Sept 16 and 18

Sept 23 and 25

Sept 30 and Oct 2

Oct 7 and 9

Oct 14 and 16

Oct 21 and 23

Oct 28 and 30

Topics
Basics: Sets, numbers,
functions, sequences, limits
and series
Univariate calculus and
optimization
Univariate calculus and
optimization
Univariate calculus and
optimization
Midterm #1 (Oct 9)
Univariate calculus and
optimization
Univariate calculus and
optimization
Linear algebra

Nov 4 and 6

Linear algebra

Readings Covered
Ch. 2 Review of Fundamentals

Ch. 3 Sequences, Series and Limits

Ch. 4 Continuity of Functions
Ch. 5 The Derivative and Differential for
Functions of One Variable
Ch. 5 The Derivative and Differential for
Functions of One Variable
Ch. 6 Optimization of Functions of One
Variable
Ch. 7 Systems of Linear Equations
Ch. 8 Matrices
Ch. 8 Matrices

Week

Date

Topics

Nov 11 and 13

10

Nov 18 and 20

Linear algebra
Midterm #2 (Nov 13)
Linear Algebra
Multivariate calculus

11

Nov 25 and 27

Multivariate calculus

12

Dec 2 and 4

Multivariate calculus
Review and Reflections on
the Learning Experience

Readings Covered
Ch. 9 Determinants and the Inverse
Matrix
Ch. 9 Determinants and the Inverse
Matrix
Ch. 10 Some Advanced Topics in Linear
Algebra
Ch 11 Calculus for Functions of nVariables
Ch. 11 Calculus for Functions of nVariables
Ch. 12 Optimization of Functions of nVariables
Ch. 12 Optimization of Functions of nVariables

Late Work
Late submission of exam papers is not accepted and missed submissions will receive a zero mark for
whatever reason.
Exam papers must be submitted in whole and on time in the exam room. Exam papers
a) not submitted on time
b) submitted with missing pages,
c) submitted elsewhere, with the exception of students with permission to write in the AS
Office
d) not received at all
will receive a grade of zero for whatever reason.
It is the responsibility of students to ensure that they write exams in the location, date, and time
assigned to their section. Students writing exams in the wrong section will be assessed a 20%
penalty on the final exam grade. There will be no accommodation for possible differences in
exam material or content.
Late submission of assignments

I will be posting the solutions for the bi-weekly assignments after the class time when the
assignments are due. Thus, assignments submitted after the solutions are posted will receive
the grade of zero.

Electronic Device Policy

THE CLASSROOM IS A HANDHELD-DEVICE-FREE ZONE.

Turn off all handheld devices and put them away for the duration of the lecture.

Laptop computers may only be used to view lecture material.

Photographic devices are not permitted in class due to copyright and privacy issues.

Audio or video recording devices are not permitted in class due to copyright and privacy issues.

Attendance Policy
Class attendance is an integral part of your educational experience. While attendance is not a graded
component of this course, it is an important factor in ensuring your complete understanding of the
material presented. You are responsible for all material presented in the scheduled lecture periods
whether you choose to attend lectures or not.
Classroom Protocols

I do NOT lend my lecture notes to students for any reason.

In order to maintain a productive learning environment in the classroom, we all need to show
the highest level of courtesy and professional behaviour. In particular, please be punctual and
turn off all audible ringers on all devices during class.
As a courtesy to the custodial staff, if you have coffee, water, etc., please dispose of your
garbage when you leave the classroom.
Please leave your private conversations for after the class.

Cross-listed course
Please note that a cross-listed course will count in all respective averages no matter under which rubric
it has been taken. For example, a PHIL/PSCI cross-list will count in a Philosophy major average, even if
the course was taken under the Political Science rubric.

Academic Integrity
Academic Integrity: In order to maintain a culture of academic integrity, members of the University of
Waterloo are expected to promote honesty, trust, fairness, respect and responsibility.
Discipline: A student is expected to know what constitutes academic integrity, to avoid committing
academic offences, and to take responsibility for his/her actions. A student who is unsure whether an
action constitutes an offence, or who needs help in learning how to avoid offences (e.g., plagiarism,
cheating) or about rules for group work/collaboration should seek guidance from the course
professor, academic advisor, or the Undergraduate Associate Dean. When misconduct has been found
to have occurred, disciplinary penalties will be imposed under Policy 71 Student Discipline. For
information on categories of offenses and types of penalties, students should refer to Policy 71 - Student
Discipline.
Grievance: A student who believes that a decision affecting some aspect of his/her university life has
been unfair or unreasonable may have grounds for initiating a grievance. Read Policy 70 - Student
Petitions and Grievances, Section 4.
Appeals: A student may appeal the finding and/or penalty in a decision made under Policy 70 - Student
6

Petitions and Grievances (other than regarding a petition) or Policy 71 - Student Discipline if a ground for
an appeal can be established. Read Policy 72 - Student Appeals.

Other sources of information for students

Academic integrity (Arts) Academic Integrity Office (uWaterloo)

Accommodation for Students with Disabilities

Note for students with disabilities: The AccessAbility Services office, located in Needles Hall Room
1132, collaborates with all academic departments to arrange appropriate accommodations for students
with disabilities without compromising the academic integrity of the curriculum. If you require academic
accommodations to lessen the impact of your disability, please register with the AS office at the
beginning of each academic term.