Review of basic mathematical concepts; derivations, rules for differentiation, integral, calculus, difference and differential equations. Mathematical treatment of the theory of consumer behaviour; axioms of consumer behaviour; utility functions, budget lines; consumer utility maximization; derivation of demand curves; priced and income elasticities; complements and substitutes; normal inferior and Giffen good.

Mathematical treatment of production theory.

Production functions: Cobb-Douglas, Constant Elasticity of Substitution (CES), and Homogeneous production functions. Derivation of the isoquant, the expansion path, and the elasticity of substitution; producer profit maximization.

The applications of difference and differential equations to the analyses of economic fluctuations and the `cobweb' model.