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IGNOU MEC-203 Code Details
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University
IGNOU (Indira Gandhi National Open University)
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Title
Quantitative Methods
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Language(s)
English
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Code
MEC-203
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Subject
Economics
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Degree(s)
MAEC (New)
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Course
Core Courses (CC)
IGNOU MEC-203 English Topics Covered
Block 1 - Review of Basic Mathematics
- Unit 1 - Fundamental Concepts of Mathematics
- Unit 2 - Overview of Basic Methods of Mathematics
- Unit 3 - Relations and Functions
- Unit 4 - Co-ordinate Geometry and Representation of Functions
Block 2 - Linear Algebra
- Unit 1 - Matrix Algebra
- Unit 2 - Vector Analysis
- Unit 3 - Vectors and Matrices
- Unit 4 - Vector and Matrix Representations of Linear Equations
Block 3 - Calculus
- Unit 1 - Limit and Continuity
- Unit 2 - Differential Calculus: Functions of One Variable
- Unit 3 - Differential Calculus: Functions of Several Variables
- Unit 4 - Integration: Introduction and Techniques
Block 4 - Real Analysis
- Unit 1 - Real Analysis
- Unit 2 - Calculus of Several Variables
- Unit 3 - Basic Concepts of Metric Space and Point Set Topology
Block 5 - Extreme Values and Optimisation
- Unit 1 - Optimisation: An Introduction
- Unit 2 - Unconstrained and Constrained Optimisation
- Unit 3 - Advanced Topics in Optimisation–I
- Unit 4 - Advanced Topics in Optimisation–II
Block 6 - Economic Dynamics
- Unit 1 - Difference Equations: Theory and Economic Applications
- Unit 2 - Differential Equations
Block 7 - Dynamic Optimisation
- Unit 1 - Intertemporal Optimisation-I
- Unit 2 - Intertemporal Optimisation-II
- Unit 3 - Economic Applications of Dynamic Optimisation
Block 8 - Probability and Probability Distributions
- Unit 1 - Probability Theory
- Unit 2 - Probability Distributions-I
- Unit 3 - Probability Distributions-II
Block 9 - Inferential Statistics
- Unit 1 - Sampling Theory
- Unit 2 - Sampling Distributions
- Unit 3 - Estimation
- Unit 4 - Hypothesis Testing
IGNOU MEC-203 (July 2023 - January 2024) Assignment Questions
Section A
1. a) Explain the necessary and sufficient conditions in case of unconstrained optimisation.
b) Consider a consumer who buys two goods, x and y with utility function u(x, y) = 2√x + y. The consumer's income is 20 and price of y is 4. Compute the optimal consumption bundle when the price of x is equal to 1 using constrained optimisation.
2. With respect to the applications of dynamic optimisation, explain the optimal rate of extraction of exhaustible resources by monopoly.
Section B
3. What is a discontinuous function? Discuss the two types of discontinuous functions along with their diagrams.
4. Explain the concept of a stationary point and inflexion point. Is a stationary point always a point of inflexion? Why or why not?
5. What do you understand by the term ‘joint distribution’ and ‘marginal distribution’? Discuss with the help of an example.
6.What is a sample? Explain with the help of an example. Discuss any two types of sampling techniques.
7) Write short notes on the following:
(i) One-tailed and two-tailed tests
(ii) One to one and onto functions
(iii) Hyperbola
(iv) Local minima
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