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Course Curriculum

Mathematics

Students will learn concepts of mathematics that are most useful for understanding higher-level (i.e., quantitative aspects of) economics and finance. These concepts are as follows:  Univariate calculus: 

  1. what is a univariate function? 
  2. how does one compute the limit of a univariate function? 
  3. how does one compute the derivative of a univariate function? 
  4. how does one compute the maximum and minimum of a univariate function? 

Multivariate calculus: 

  1. what is a multivariate function? 
  2. how does one compute the partial derivatives of a multivariate function? 
  3. how does one compute the maximum and minimum of a multivariate function? 

Analytic/Coordinate geometry: 

  1. How does one represent a straight line in equation form? 
  2. How does one compute the intersection point between two straight lines? 

Linear Algebra: 

  1. How does one write a system of linear equations in matrix form? 
  2. How does one solve such a system? 

Miscellaneous topics: 

  1. What are the log and exponential functions? 
  2. How does one go from an equation in levels to an equation in rates of change? 

Applications to Micro and Macro Economics: 

  1. what are some of the applications of the above concepts in economics? 

 

Statistics

Students will learn concepts of statistics that are most useful for understanding higher-level (i.e., quantitative aspects of) economics and finance. These concepts are as follows:  Random variables: 

  1. What is a random variable? 
  2. How does one distinguish between discrete and continuous random variables?
  3. What is a probability mass function?
  4. What is a probability distribution function?
  5. How does one compute the mean and variance of a random variable?
  6. What are some of the standard distribution functions used in economics and finance?

Jointly distributed random variables: 

  1. What are joint and marginal distributions? 
  2. What is the conditional probability distribution function?
  3. How does one compute the mean and variance of a conditional probability distribution function?
  4. What is a regression equation?
  5. How does one compute the correlation for a regression function?

Hypothesis testing: 

  1. How does one test statistical hypothesis? 
  2. How does one compute confidence intervals?
  3. What are some of the common distribution functions used in hypothesis testing?

Ordinary Least Squares (OLS) Estimation: 

  1. How does one run OLS regressions? 
  2. What purpose do OLS regressions serve?

Using R for statistical analysis: 

  1. How does one implement the above concepts using a program like R? 

Applications to Micro and Macro Economics: 

  1. What are some of the applications of the above concepts in economics and finance? 
MDAE Summer Program in Math and Statistics - Syllabus

Duration and Structure

Structure – There will be 48 hours of classroom training (24 hours per course) with two four-hour lectures every week for a duration of 5 weeks.

Course Dates – 22rd May to 28th June (Tentative)

Who can apply? Students in their second or third year of graduation Students must have secured a minimum 50% in their 12th standard

Venue –  Meghnad Desai Academy, 12th Floor, Centre 1 Building, Cuffe Parade, Mumbai – 40005

Fees – Rs. 24,000 plus applicable taxes 

For more information, please write to info@meghnaddesaiacademy.org or call 022 60126001

MDAE Summer Program - Math and Statistics Duration

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