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Derivatives Project Final

The document discusses the significance of derivatives in economics, covering their foundational concepts, rules of differentiation, and applications in various real-life scenarios. It highlights the role of derivatives in marginal analysis, optimization, and elasticity, while also acknowledging key contributors to the field. The future scope of derivatives includes their impact on AI, autonomous vehicles, and forecasting models.

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Madhav Goel
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4 views4 pages

Derivatives Project Final

The document discusses the significance of derivatives in economics, covering their foundational concepts, rules of differentiation, and applications in various real-life scenarios. It highlights the role of derivatives in marginal analysis, optimization, and elasticity, while also acknowledging key contributors to the field. The future scope of derivatives includes their impact on AI, autonomous vehicles, and forecasting models.

Uploaded by

Madhav Goel
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Derivatives and Their Applications in Economics

Course: ______________________________

Submitted by:
Madhav Goel
Raghav Mittal
Shiva
Asad

Submitted to: __________________________

Date of Submission: 19 November 2025


Table of Contents
1. Introduction
2. Link to Syllabus Concepts
3. Understanding Derivatives
4. Chapter 6 – Rules of Differentiation
5. Marginal Concepts
6. Chapter 8 – Optimisation
7. Numerical Example
8. Elasticity
9. Real-Life Applications
10. People Who Developed and Applied Derivatives
11. Future Scope
12. Summary
13. Conclusion
14. Contribution of Group Members
Introduction
Derivatives are among the most essential tools in calculus and form the backbone of
mathematical economics...

Link to Syllabus Concepts


This topic integrates central concepts such as marginal analysis, elasticity, and
optimisation...

Understanding Derivatives
A derivative of a function y=f(x) shows how y changes as x changes...

Chapter 6 – Rules of Differentiation


Power Rule: d/dx(x^n)=nx^(n−1)

Product Rule: d(uv)/dx = u'v + uv'...

Marginal Concepts
Marginal Cost (MC)=d(TC)/dQ, Marginal Revenue (MR)=d(TR)/dQ, Marginal Product
(MP)=dQ/dL...

Chapter 8 – Optimisation
Optimisation uses first and second derivative tests to identify maxima and minima...

Numerical Example
TR=50Q−Q^2, TC=10Q+20... Profit maximised at Q=20 with π=380...

Elasticity
Elasticity Ep = (dQ/dP) × (P/Q). Derivatives quantify responsiveness of demand to price...

Real-Life Applications
Applications include Google bidding optimisation, Swiggy delivery routing, Spotify
recommendation tuning...
People Who Developed and Applied Derivatives
Newton, Leibniz, Cournot, Marshall, Samuelson contributed foundational work...

Future Scope
Derivatives power AI training, autonomous vehicles, forecasting models, environmental
analysis...

Summary
Derivatives connect mathematical structure with real-world choices across industries...

Conclusion
Derivatives form the mathematical foundation for analysing change and optimal decisions
in economics...

Contribution of Group Members


Madhav – Mathematical foundations.

Raghav – Applications and examples.

Shiva – Textbook integration.

Asad – Formatting, layout, conclusion.

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