Comprehensive Mathematics Mind Map for

Economics Exams

Contents

1 Calculus 5
1.1 Single-variable Differential Calculus . . . . . . . . . . . . . . . . . . . . . . . . . . 5
1.1.1 Limits and Continuity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
1.1.2 Derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
1.1.3 Higher-order Derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
1.1.4 Mean Value Theorem and Taylor Series . . . . . . . . . . . . . . . . . . . 5
1.2 Single-variable Integral Calculus . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.2.1 Indefinite and Definite Integrals . . . . . . . . . . . . . . . . . . . . . . . . 6
1.2.2 Integration Techniques . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.2.3 Economic Applications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.3 Multivariable Calculus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.3.1 Partial Derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.3.2 Total Differential . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.3.3 Gradient and Directional Derivatives . . . . . . . . . . . . . . . . . . . . . 7
1.3.4 Hessian Matrix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
1.3.5 Unconstrained Optimization . . . . . . . . . . . . . . . . . . . . . . . . . . 7
1.3.6 Constrained Optimization . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
1.3.7 Implicit and Inverse Function Theorems . . . . . . . . . . . . . . . . . . . 7
1.4 Differential Equations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
1.4.1 Ordinary Differential Equations (ODEs) . . . . . . . . . . . . . . . . . . . 7
1.4.2 Applications in Economics . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

2 Linear Algebra 8
2.1 Vectors and Matrices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2.1.1 Basic Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2.1.2 Transpose and Special Matrices . . . . . . . . . . . . . . . . . . . . . . . . 9
2.1.3 Determinants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
2.1.4 Matrix Inverses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
2.2 Systems of Linear Equations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
2.2.1 Gaussian Elimination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
2.2.2 Cramer’s Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

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 2.2.3 Rank and Consistency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
2.3 Vector Spaces . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.3.1 Linear Independence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.3.2 Basis and Dimension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.3.3 Inner Product Spaces . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.4 Eigenvalues and Eigenvectors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.4.1 Characteristic Equation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.4.2 Diagonalization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.4.3 Applications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

3 Real Analysis Basics 11

3.1 Sequences and Series . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
3.1.1 Convergence of Sequences . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
3.1.2 Convergence Tests for Series . . . . . . . . . . . . . . . . . . . . . . . . . . 11
3.1.3 Power Series . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
3.2 Uniform Continuity and Convergence . . . . . . . . . . . . . . . . . . . . . . . . . 11
3.2.1 Uniform Continuity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
3.2.2 Uniform Convergence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
3.2.3 Economic Applications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

4 Optimization Theory 12
4.1 Convex Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
4.1.1 Convex Sets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
4.1.2 Convex Functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
4.1.3 Jensen’s Inequality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
4.1.4 Convex Optimization Problems . . . . . . . . . . . . . . . . . . . . . . . . 12
4.2 Duality Theory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
4.2.1 Primal vs. Dual Problems . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
4.2.2 Fenchel Conjugate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
4.2.3 Duality Applications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

5 Probability and Statistics Foundations 13

5.1 Probability Theory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
5.1.1 Axioms and Basic Properties . . . . . . . . . . . . . . . . . . . . . . . . . 13
5.1.2 Conditional Probability . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
5.1.3 Bayes’ Theorem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
5.1.4 Random Variables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

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 5.1.5 Common Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
5.1.6 Expected Value and Moments . . . . . . . . . . . . . . . . . . . . . . . . . 14
5.1.7 Covariance and Correlation . . . . . . . . . . . . . . . . . . . . . . . . . . 14
5.2 Sampling Theory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
5.2.1 Sampling Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
5.2.2 Point Estimation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.2.3 Properties of Estimators . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.2.4 Interval Estimation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.3 Hypothesis Testing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.3.1 Null and Alternative Hypotheses . . . . . . . . . . . . . . . . . . . . . . . 15
5.3.2 Types of Errors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.3.3 Common Tests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.3.4 Applications in Economics . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
5.4 Matrix-based Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
5.4.1 Multivariate Normal Distribution . . . . . . . . . . . . . . . . . . . . . . . 16
5.4.2 Quadratic Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
5.4.3 Multivariate Regression . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

6 Numerical Methods & Computational Tools 16

6.1 Numerical Optimization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
6.1.1 Newton’s Method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
6.1.2 Gradient Descent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
6.1.3 Other Methods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
6.2 Numerical Integration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
6.2.1 Trapezoidal Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
6.2.2 Simpson’s Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
6.2.3 Other Methods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
6.3 Computational Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
6.3.1 Solving ODEs Numerically . . . . . . . . . . . . . . . . . . . . . . . . . . 17
6.3.2 Matrix Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
6.3.3 Programming Implementations . . . . . . . . . . . . . . . . . . . . . . . . 18

7 Exercise Drills & Mastery Routine 18

7.1 Daily Practice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
7.1.1 Calculus Drills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
7.1.2 Optimization Drills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
7.2 Weekly Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

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 7.2.1 Theoretical Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
7.2.2 Applied Mathematics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
7.2.3 Computational Implementation . . . . . . . . . . . . . . . . . . . . . . . . 19
7.3 Monthly Mock Problem Sets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
7.3.1 Comprehensive Tests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
7.3.2 Exam Simulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
7.3.3 Conceptual Reviews . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
7.4 Performance Tracking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
7.4.1 Progress Metrics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
7.4.2 Revision Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
7.4.3 Mock Test Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

8 Advanced Topics for Specialized Exams 20

8.1 Measure Theory Basics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
8.2 Functional Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
8.3 Stochastic Processes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
8.4 Game Theory Mathematics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

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1 Calculus

1.1 Single-variable Differential Calculus

1.1.1 Limits and Continuity

• ε-δ definition of limits

• One-sided limits
• Sandwich theorem
• Continuity properties
• Intermediate value theorem
• Types of discontinuities

1.1.2 Derivatives

• Definition and interpretation

• Basic differentiation rules
d(f g)
• Product rule: = f ′g + f g′
dx
d(f /g) f ′g − f g′
• Quotient rule: =
dx g2
d(f (g(x)))
• Chain rule: = f ′ (g(x)) · g ′ (x)
dx
• Logarithmic differentiation
• Implicit differentiation

1.1.3 Higher-order Derivatives

• Second derivative test for extrema

• Inflection points
• Concavity analysis
• Applications in economics (marginal concepts)

1.1.4 Mean Value Theorem and Taylor Series

f (b) − f (a)
• Mean value theorem: f ′ (c) =
b−a
• Rolle’s theorem as special case
• Taylor polynomial approximation
• Maclaurin series
• Remainder and error bounds
• Applications in economics (approximation methods)

5
1.2 Single-variable Integral Calculus

1.2.1 Indefinite and Definite Integrals

• Antiderivatives and indefinite integrals

• Riemann sums and definite integrals
• Fundamental theorem of calculus
• Properties of integrals
• Improper integrals

1.2.2 Integration Techniques

• Integration by substitution (u-substitution)

• Integration by parts: u · dv = uv − v · du
R R

• Partial fractions decomposition

• Trigonometric substitutions
• Tabular integration

1.2.3 Economic Applications

• Area under curve (total revenue, total cost)

• Consumer surplus: [D(q) − p]dq
R

• Producer surplus: [p − S(q)]dq

R

• Present value calculations: e−rt f (t)dt

R

• Capital accumulation models

• Income distribution (Lorenz curves, Gini coefficient)

1.3 Multivariable Calculus

1.3.1 Partial Derivatives

• Definition and interpretation

• Higher-order partial derivatives
• Mixed partials and Young’s theorem
• Economic applications (cross-price effects, complements/substitutes)

1.3.2 Total Differential

   
∂f ∂f
• Definition: df = ∂x dx + ∂y dy + . . .
• Chain rule for multivariable functions
• Economic applications (total effect decomposition)

6
1.3.3 Gradient and Directional Derivatives
 
∂f ∂f
• Gradient vector: ∇f = ∂x , ∂y , . . .

• Directional derivatives: Dv f (x) = ∇f · v

• Level curves/surfaces and gradients
• Economic interpretation (steepest ascent/descent)

1.3.4 Hessian Matrix

• Definition and structure

• Eigenvalues of Hessian
• Determinants of principal minors
• Economic significance (principal minors in stability analysis)

1.3.5 Unconstrained Optimization

• First-order conditions (FOCs): ∇f (x∗ ) = 0

• Second-order conditions (SOCs)
• Hessian definiteness test
• Local vs. global optima
• Applications in utility maximization, cost minimization

1.3.6 Constrained Optimization

• Lagrange multiplier method

• Interpretation of Lagrange multipliers (shadow prices)
• Kuhn-Tucker conditions
• Envelope theorem and applications
• Comparative statics using implicit function theorem
• Duality in optimization problems

1.3.7 Implicit and Inverse Function Theorems

• Conditions for existence

• Jacobian determinants
• Applications in comparative statics
• Economic equilibrium analysis

1.4 Differential Equations

1.4.1 Ordinary Differential Equations (ODEs)

• First-order ODEs

7
 – Separable equations
– Linear first-order equations
– Exact equations
– Integrating factors
• Second-order linear ODEs
– Homogeneous equations
– Non-homogeneous equations
– Method of undetermined coefficients
– Variation of parameters
• Systems of ODEs
– Matrix formulation
– Stability analysis

1.4.2 Applications in Economics

• Dynamic macroeconomic models

– IS-LM dynamics
– Phillips curve dynamics
• Growth models
– Solow-Swan model
– Ramsey-Cass-Koopmans model
– Endogenous growth models
• Phase diagrams
– Equilibrium points
– Stability analysis
– Saddle paths
• Optimal control theory basics
– Hamilton-Jacobi-Bellman equation
– Pontryagin’s maximum principle

2 Linear Algebra

2.1 Vectors and Matrices

2.1.1 Basic Operations

• Vector addition and scalar multiplication

• Matrix addition and multiplication
• Special matrices (identity, diagonal, triangular)
• Trace of a matrix
• Matrix powers

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2.1.2 Transpose and Special Matrices

• Properties of transpose
• Symmetric and skew-symmetric matrices
• Orthogonal matrices
• Idempotent matrices
• Economic applications (input-output matrices)

2.1.3 Determinants

• Definition and properties

• Cofactor expansion
• Determinant of product: det(AB) = det(A) · det(B)
• Applications in Cramer’s rule
• Economic applications (stability conditions)

2.1.4 Matrix Inverses

• Conditions for invertibility

• Adjoint method of finding inverse
• Gauss-Jordan elimination
• Inverse of partitioned matrices
• Applications in solving linear systems

2.2 Systems of Linear Equations

2.2.1 Gaussian Elimination

• Row operations
• Row echelon form
• Reduced row echelon form
• Back substitution

2.2.2 Cramer’s Rule

• Formula using determinants

• Limitations and computational complexity

2.2.3 Rank and Consistency

• Rank of a matrix
• Rank-nullity theorem
• Conditions for existence of solutions

9
 • General solution structure
• Economic applications (market equilibrium)

2.3 Vector Spaces

2.3.1 Linear Independence

• Definition and tests

• Spanning sets
• Relation to system of equations

2.3.2 Basis and Dimension

• Definition of basis
• Coordinate systems
• Change of basis
• Dimension of vector spaces and subspaces

2.3.3 Inner Product Spaces

• Definition and properties

• Norm and distance
• Orthogonality
• Gram-Schmidt process
• Projections
• Economic applications (quadratic forms in utility)

2.4 Eigenvalues and Eigenvectors

2.4.1 Characteristic Equation

• Definition: det(A − λI) = 0

• Finding eigenvalues and eigenvectors
• Algebraic and geometric multiplicity

2.4.2 Diagonalization

• Conditions for diagonalizability

• Procedure for diagonalization
• Spectral decomposition
• Powers of matrices: An = P Dn P −1

10
2.4.3 Applications

• Stability analysis in dynamic systems

• Input-output models
• Markov chains
• Principal component analysis basics
• Dynamic economic models (convergence conditions)

3 Real Analysis Basics

3.1 Sequences and Series

3.1.1 Convergence of Sequences

• Definition of convergence
• Monotone sequences
• Bounded sequences
• Cauchy sequences
• Limit properties

3.1.2 Convergence Tests for Series

• Comparison test
an+1
• Ratio test: lim an

• Root test: lim |an |1/n

• Integral test
• Alternating series test

3.1.3 Power Series

• Radius of convergence
• Term-by-term differentiation
• Term-by-term integration
• Applications in approximation

3.2 Uniform Continuity and Convergence

3.2.1 Uniform Continuity

• Definition and relation to continuity

• Compact sets and continuity

11
3.2.2 Uniform Convergence

• Definition and tests

• Weierstrass M-test
• Relation to continuity and integrability

3.2.3 Economic Applications

• Value function convergence

• Contraction mappings
• Fixed point theorems and economic equilibrium

4 Optimization Theory

4.1 Convex Analysis

4.1.1 Convex Sets

• Definition and properties

• Examples in economic theory
• Operations preserving convexity
• Separation theorems

4.1.2 Convex Functions

• Definition and characterizations

• First and second-order conditions
• Operations preserving convexity

4.1.3 Jensen’s Inequality

• Statement and proof

• Applications in economics
• Risk aversion and utility theory

4.1.4 Convex Optimization Problems

• Structure and properties

• Global optimality of local optima
• Economic applications (production, utility)

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4.2 Duality Theory

4.2.1 Primal vs. Dual Problems

• Formulation of dual problems

• Weak and strong duality
• Complementary slackness
• Economic interpretation (shadow prices)

4.2.2 Fenchel Conjugate

• Definition and properties

• Relation to Legendre transform
• Applications in economics

4.2.3 Duality Applications

• Cost minimization and profit maximization

• Consumer theory (expenditure minimization)
• Producer theory (cost minimization)

5 Probability and Statistics Foundations

5.1 Probability Theory

5.1.1 Axioms and Basic Properties

• Probability space
• Events and set operations
• Axioms of probability

5.1.2 Conditional Probability

P (A∩B)
• Definition: P (A|B) = P (B)
• Law of total probability
• Independence of events

5.1.3 Bayes’ Theorem

P (B|A)P (A)
• Formula: P (A|B) = P (B)
• Applications in economic decisions
• Updating beliefs (Bayesian inference)

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5.1.4 Random Variables

• Discrete vs. continuous

• Probability mass function (PMF)
• Probability density function (PDF)
• Cumulative distribution function (CDF)

5.1.5 Common Distributions

• Bernoulli: P (X = 1) = p, P (X = 0) = 1 − p
• Binomial: nx px (1 − p)n−x

λx e−λ
• Poisson: x!
• Uniform distribution
(x−µ)2
• Normal distribution: √1 e− 2σ 2
σ 2π
• Exponential distribution
• Log-normal distribution
• Student’s t-distribution
• Chi-square distribution
• F-distribution

5.1.6 Expected Value and Moments

• Expected value: E(X) =

P R
x · P (X = x) or x · f (x)dx
• Variance: Var(X) = E[(X − E(X))2 ]
• Standard deviation: σ = Var(X)
p

• Skewness and kurtosis

5.1.7 Covariance and Correlation

• Covariance: Cov(X, Y ) = E[(X − E(X))(Y − E(Y ))]

Cov(X,Y )
• Correlation coefficient: ρ = σX ·σY
• Properties and interpretation
• Applications in portfolio theory

5.2 Sampling Theory

5.2.1 Sampling Distributions

• Sample mean distribution

• Sample variance distribution
√ d
• Central Limit Theorem: n(X̄n − µ) −
→ N (0, σ 2 )
• Law of large numbers

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5.2.2 Point Estimation

• Method of moments
• Maximum likelihood estimation
• Least squares estimation

5.2.3 Properties of Estimators

• Unbiasedness
• Consistency
• Efficiency
• Sufficiency
• Minimum variance unbiased estimator (MVUE)

5.2.4 Interval Estimation

• Confidence intervals
• Pivotal quantities
• Applications in economic data analysis

5.3 Hypothesis Testing

5.3.1 Null and Alternative Hypotheses

• One-sided vs. two-sided tests

• Test statistics
• Critical regions

5.3.2 Types of Errors

• Type I error (false positive)

• Type II error (false negative)
• Power of a test
• Sample size determination

5.3.3 Common Tests

• z-test (known variance)

• t-test (unknown variance)

– One-sample t-test
– Independent two-sample t-test
– Paired t-test

• Chi-square tests

15
 – Goodness of fit
– Test of independence

• F-test for equality of variances

• ANOVA (Analysis of Variance)

5.3.4 Applications in Economics

• Testing economic theories

• Testing market efficiency
• Policy evaluation

5.4 Matrix-based Statistics

5.4.1 Multivariate Normal Distribution

• Density function
• Properties
• Marginal and conditional distributions

5.4.2 Quadratic Forms

• Distribution of quadratic forms

• Independence conditions
• Applications in econometrics

5.4.3 Multivariate Regression

• Matrix formulation: y = Xβ + ε
• Least squares estimation: β̂ = (X′ X)−1 X′ y
• Properties of estimators
• Hypothesis testing in regression
• Gauss-Markov theorem

6 Numerical Methods & Computational Tools

6.1 Numerical Optimization

6.1.1 Newton’s Method

f (xn )
• Algorithm: xn+1 = xn − f ′ (xn )
• Convergence properties
• Multivariable extension

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6.1.2 Gradient Descent

• Algorithm: xn+1 = xn − α∇f (xn )

• Learning rate selection
• Variants (stochastic, momentum)

6.1.3 Other Methods

• Quasi-Newton methods (BFGS)

• Conjugate gradient method
• Simplex method for linear programming
• Interior point methods

6.2 Numerical Integration

6.2.1 Trapezoidal Rule

Rb
• Formula: a f (x)dx ≈ b−a
2 · [f (a) + f (b)]
• Composite trapezoidal rule
• Error bounds

6.2.2 Simpson’s Rule

Rb
• Formula: a f (x)dx ≈ b−a
6 · [f (a) + 4f ( a+b
2 ) + f (b)]
• Composite Simpson’s rule
• Error bounds

6.2.3 Other Methods

• Gaussian quadrature
• Monte Carlo integration
• Adaptive integration methods

6.3 Computational Exercises

6.3.1 Solving ODEs Numerically

• Euler method
• Runge-Kutta methods
• Applications in economic dynamics

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6.3.2 Matrix Operations

• Numerical matrix inversion

• Eigenvalue computation
• LU decomposition
• QR decomposition
• Singular value decomposition

6.3.3 Programming Implementations

• Python libraries (NumPy, SciPy, Pandas)

• MATLAB/Octave functions
• R packages for economic analysis
• Julia for computational economics

7 Exercise Drills & Mastery Routine

7.1 Daily Practice

7.1.1 Calculus Drills

• 10 limit/derivative problems
• 5 integral problems
• 3 applications in economics

7.1.2 Optimization Drills

• 5 Lagrange multiplier problems

• 3 unconstrained optimization
• Economic interpretation exercises

7.2 Weekly Projects

7.2.1 Theoretical Exercises

• Derive Euler’s theorem and apply to homogeneous functions

• Prove properties of convex functions
• Envelope theorem applications

7.2.2 Applied Mathematics

• Solve a mini macro dynamic model with phase diagram

• Input-output analysis using matrix methods
• Optimization problems in microeconomics

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7.2.3 Computational Implementation

• Implement numerical optimization in Python

• Simulate economic models in MATLAB/Octave
• Data analysis using statistical methods

7.3 Monthly Mock Problem Sets

7.3.1 Comprehensive Tests

• Mixed calculus and linear algebra problem paper

• Statistical inference and probability
• Economic applications

7.3.2 Exam Simulation

• Timed practice under exam conditions

• Past papers from GATE/JAM/ISI/DSE
• Analysis of mistakes and weak points

7.3.3 Conceptual Reviews

• Explain key theorems in one page

– Implicit Function Theorem

– Envelope Theorem
– Mean Value Theorem
– Central Limit Theorem

• Create concept maps linking mathematical methods to economic applications

• Develop intuitive explanations for complex topics

7.4 Performance Tracking

7.4.1 Progress Metrics

• Speed of problem solving

• Accuracy rates
• Topic-wise performance analysis

7.4.2 Revision Strategy

• Spaced repetition system

• Focus on weak areas
• Application-based learning

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7.4.3 Mock Test Analysis

• Performance benchmarking
• Time management analysis
• Error pattern identification

8 Advanced Topics for Specialized Exams

8.1 Measure Theory Basics

• Measure spaces
• Lebesgue integral
• Applications in advanced economic theory

8.2 Functional Analysis

• Metric spaces
• Banach and Hilbert spaces
• Applications in infinite-dimensional optimization

8.3 Stochastic Processes

• Markov chains
• Brownian motion
• Stochastic differential equations
• Applications in finance

8.4 Game Theory Mathematics

• Nash equilibrium computation

• Fixed point theorems
• Dynamic games

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