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ECON 6305 - Learning Module 1 Limits, Derivatives, Sums of Series, Concavity

This document provides an overview of Learning Module 1 which covers limits, derivatives, sums of series, and concavity. The module contains two lessons that teach students how to [1] recognize and manipulate arithmetic and geometric sums of series and find limits and derivatives of univariate functions, and [2] test functions for monotonicity and concavity and use derivatives to find and classify critical values of univariate functions. The document outlines key concepts around limits, differentiation, continuity, differentiation rules, higher order derivatives, and examples of sums of series.

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LittleMinn
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26 views

ECON 6305 - Learning Module 1 Limits, Derivatives, Sums of Series, Concavity

This document provides an overview of Learning Module 1 which covers limits, derivatives, sums of series, and concavity. The module contains two lessons that teach students how to [1] recognize and manipulate arithmetic and geometric sums of series and find limits and derivatives of univariate functions, and [2] test functions for monotonicity and concavity and use derivatives to find and classify critical values of univariate functions. The document outlines key concepts around limits, differentiation, continuity, differentiation rules, higher order derivatives, and examples of sums of series.

Uploaded by

LittleMinn
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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ECON 6305 – Learning Module 1

Limits, derivatives, sums of series, concavity


• After completing this module, the student will be able to:
Lesson 1:
– Recognize and manipulate arithmetic and geometric sums of
series
– Find limits and compute derivatives of univariate functions

Lesson 2:
– Test functions for monotonicity and apply the inverse function
rule
– Use first and second derivatives to find and classify critical values
of univariate functions including border solutions
– Define and test for concavity and convexity of univariate functions
Limits

•   iff
for all and any real, positive value of

• In another form

• Useful limits
Sum of Arithmetic Series

•  

2
Sum of Arithmetic Series (cont.)

•   • More generally:

• Alternate form:

• Note: sometimes replaces in these equations.


Sum of Geometric Series

•   is the common ratio


Sum of Geometric Series (cont.)

•  • If the first term is

• Infinite geometric series

• We will use these to replace a sum with the


arithmetic or geometric series.
Example: Sum of geometric series

•   • Suppose you put B dollars at the end of every


month into an account which pays a constant r%
interest per month. How much money do you
have after n months?

A geometric series with initial value B and common


factor
Differentiation

•   • The slope of at is

• The tangent line at is


Differentiation (cont.)

•   • Example
Continuity and Differentiability

• •  is continuous at if

exists, and

• is differentiable at if

exists

• All differentiable functions are continuous, but not all continuous


functions are differentiable.

• For example
Differentiation Rules

•  

• Product Rule

• Quotient Rule
Differentiation Rules (cont.)

•   • Chain rule

• The more familiar chain rule notation

Self test LM 1.1 Differentiation


Higher order derivatives

•• The
  second derivative

• Note: the second derivative is the slope of the slope


(tells us how the slope is changing).

• The nth derivative

Self test LM 1.2 Isoquant

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