In addition to the general quantitative skills you will need for many Schar School courses, "Microeconomics for Policy Analysis (PUBP 720)" uses more specific mathematical concepts and principles. Many of these concepts are introduced in our general basic math tutorial and reviewed in a special "math camp" offered to students in the weeks prior to the semester they take the microeconomics course.
While the quantitative requirements for microeconomics can vary by instructor, all students should be very familiar with certain topics related to graphs and functions. We have found that once students build a strong base in a discrete number of quantitative topics, they are able to better enjoy and understand the models presented in PUBP 720. This enables instructors to focus the course on applications rather than elementary quantitative requirements.
The video tutorials below review the key mathematical concepts used in the Schar School's microeconomics courses. These topics are generally covered in pre-algebra, algebra and pre-calculus math courses in high school and college; students that want additional resources in any of these topics should refer to the appropriate math (not economics) textbooks and/or discuss the issue with their professors. Knowledge of the material presented in the video tutorials is generally assumed in PUBP 720, and may not be reviewed in detail during the course.
Schar School of Policy and Government
Basic Math Tutorial for Economics
Function Basics
Fundamentals of Functions
This video introduces the basic conceptualisation of functions and important terminology.
Functions in Mathematics
This video discusses the most basic form of functions in mathematics and its components.
Labels on Functions
This video discusses the importance of labels and differentiating them from mathematic operators.
Slope of Linear Equations
Slope Identification
This video covers the importance of the slope in linear functions and the mathematic proof.
Slope in Graphs
This video explains how to find slopes when provided a graph and useful tips to quickly identify what type of slope a graph possesses.
Economic Analysis Using Functions
Inverse Functions
This video explains why inverting functions can provide important information for mathematic and economic analysis.
Demand and Supply Analysis
This video delves into the fundamentals of demand and supply curve analyses in economics.
Budget Constraint
This video provides the importance of inverse functions in budget constrain analyses.
Common Functions and their Graphs
This video provides an overview of common functions one may encounter in economic courses with economic examples.
Systems of Equations
Systems of Equations Introduction
This video introduces what systems of equations is and why it is an important mathematic tool.
Equating the Same Variable
This video explains the “equating the same variable” method in trying to find the values of two unknown variables with two equations.
Elimination
This video explains the “elimination” method in trying to find the values of two unknown variables with two equations.
Geometry
Geometry Introduction
This video discusses why understanding geometry is important in economic analysis.
Triangles
This video explains area of triangles and why it is important in economic analysis using examples.
Rectangles
This video explains area of rectangles and why it is important in economic analysis using examples.
Multivariate Functions
Multivariate Functions
This video introduces multivariate functions and how to approach solving problems on this concept.
Multivariate Functions Analysis
This video goes through an example of multivariate function analysis in economics using the budget constraint example.
Derivatives
Derivatives Introduction
This video introduces what a derivative is and why it is critical to understanding functions.
Derivatives Rules
This video covers the important rules for when performing derivative calculations and why derivatives equal the “rate of change” of a function.
Derivatives and Visualisation
This video provides a visual explanation of derivatives using graphs.
Marginal Cost
This video provides an example of where derivatives may be used in economic analysis with the marginal cost concept.
Price Elasticity of Demand (PED)
This video provides a slightly more complex use of derivatives in economic analysis with the price elasticity of demand concept.
Second Derivatives
This video introduces the second derivative and the importance of “the rate of change OF the rate of change” conceptualisation.
Marginal Cost – Analysis Second Derivative
This video uses the economic example of marginal cost to understand why second derivatives are useful.
Partial Derivatives
This video covers the method and importance of performing derivatives in multivariate function settings using the Cobb-Douglas function.