ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD

(Department of Economics)

WARNING
1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING
THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD
OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
2. SUBMITTING ASSIGNMENT(S) BORROWED OR STOLEN FROM
OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN
“AIOU PLAGIARISM POLICY”.

Course: Mathematics for Economists (803)

Level: MSc. Semester: Autumn, 2020
Total Marks: 100
Pass Marks: 40
ASSIGNMENT No. 1
(Unit 1–5)

Q.1 Explain the different types of equations with examples. (20)

Q.2 Let the demand and supply functions are as follow. (20)
a) Qd = 15 – 4P b) Qd = 30 – 6p
Qs = 6P – 1 Qs = -6 + 8P
Find equilibrium price and quantity

Q.3 Using Cramer’s rule, solve the following equations. (20)

2x+3y+z= 1
5x+2y+z = 1

Q.4 Write a detailed note on the Jacobian determinants. (20)

Q.5 The given implicit functions is: (20)

x2 + 3xy + 2yz + y2 + z2 – 11 = 0
Find dy/dx when x=1 and y=2.

1
 ASSIGNMENT No. 2
(Unit 6–9)
Total Marks: 100
Pass Marks: 40

Q.1 Describe applications of exponential and logarithmic function in economics. Give

examples to support your point. (20)

Q.2 Find second and third derivatives of the following functions. (20)
a) y = 5x5 – 4x + 13
b) y = 11 – x4

Q.3 Find the relative extremum of the functions: (20)

i) Y = 5x2 -x
ii) Y = x3 -2x2 + 3

Q.4 How will you check whether the given function is strictly concave or strictly
convex? (20)

Q.5 Write a short note on the following? (10+10)

• First order and second order conditions for extremum.
• Homogenous Functions