PURPOSE OF COURSE
methods involve the application of quantitative techniques in various fields
like economics, commerce, agriculture, industry, marketing and general
administration. Such techniques help in complex planning, managerial and
economic problems. These techniques involve the introduction of elements of
quantities involving the use of numbers, symbols and other mathematical
expression of tools.
By the end of the course unit, students
should be able to:
Quantitative skills that provide a foundation for understanding other
courses in economics
the role of quantitative methods in decision making conditions under
certainty, risk and uncertainty
the techniques that are used in analyzing relationships that determine
probable future consequences of decision choices.
- Devise appropriate measures of
effectiveness while evaluating merit and alternative action.