Numbers and Sets

ECON 441: Introduction to Mathematical Economics
Lecture 1

Div Bhagia

Introductions

  • Your preferred name and pronouns

  • Why are you here?

    • Undergrads: why you signed up for this class
    • Grad students: why you’re doing the MA
  • The last math class you took, and roughly when

  • Your comfort food

Real-Number System

  • Integers: \[...,-3,-2,-1,0,1,2,3,...\]
  • Fractions: \[\frac{1}{2}, \frac{3}{5}, -\frac{2}{3}\]

  • Rational numbers: ratio of integers

  • Are fractions rational numbers? What about integers?

Real-Number System

  • Rational numbers: ratio of integers
    • “terminating or repeating decimal”
    • Example. \(\frac{1}{3}=0.333\), \(\frac{1}{4}=0.25\)
  • Irrational numbers: cannot be expressed as a ratio of two integers
    • “nonterminating or nonrepeating decimal”
    • Example. \(\sqrt{2}=1.4142\), \(\pi=3.1415\)
  • Real numbers (\(\mathbb{R}\)): rational and irrational

Sets

  • A set is a collection of distinct objects. \[A = \{brownies, icecream, pizza, ramen\}\]

  • \(pizza \in A\), \(\in\) stands for ‘is in’

  • Other ways of writing a set \[B = \{x | x \text{ is a positive integer}\}\] \[C = \{x | 1<x<5\}\]

Set Relations

  • Equivalence (\(=\)) \[A = \{brownies, icecream, pizza, ramen\}\] \[B = \{pizza, ramen, icecream, brownies\}\] \[A = B\]
  • Subset (\(\subset\)) \[C = \{pizza, ramen\}\] \(C \neq A\) but \(C \subset A\). Note: \(A \supset C\) is equivalent. Is \(A \subset B\)?

Set Relations

  • Disjoint sets \[A = \{brownies, icecream, pizza, ramen\}\] \[D = \{salad, fruits\}\]
  • Neither but still related \[A = \{brownies, icecream, pizza, ramen\}\] \[E = \{salad, fruits, icecream\}\]

Set Relations

  • \(\emptyset\): empty or null set
  • What are all possible subsets of \(S = \{a,b,c\}\)?

    • \(\emptyset, \{a\}, \{b\},\{c\}, \{a,b\}, \{b,c\}, \{a,c\}, \{a,b,c\}\)
    • Always \(2^n\) subsets. Here \(n=3\), so 8 subsets.

Set Operations

  • Union: \(A \cup B\), elements in either \(A\) or \(B\)

  • Intersection: \(A \cap B\), elements in both \(A\) and \(B\)

  • Example: \[A = \{brownies, icecream, pizza, ramen\}\] \[B = \{salad, fruits, icecream\}\]

    • \(A \cup B =\)
       
    • \(A \cap B =\)

Set Operations

  • Union: \(A \cup B\), elements in either \(A\) or \(B\)

  • Intersection: \(A \cap B\), elements in both \(A\) and \(B\)

  • What about \[A = \{brownies, icecream, pizza, ramen\}\] \[B = \{salad, fruits\}\]

    • \(A \cup B =\)
       
    • \(A \cap B =\)

Set Operations

  • Complement of \(A\): \(\tilde{A}\) or \(A^c\), ‘not \(A\)’

  • Universal set \(U\) (context specific) then: \[A^c = \{x | x \in U \text{ and } x \not\in A\}\] Example. \(U=\{1,e,f,2\}, A=\{1,2\}\), then \(A^c=\{e,f\}\).

Set Operations: Venn Diagrams

Shade the following regions:

\(A \cup B\)

Blank two-set Venn diagram: sets A and B overlapping inside universal set U

\(A \cap B\)

Blank two-set Venn diagram: sets A and B overlapping inside universal set U

\(A^c\)

Blank two-set Venn diagram: sets A and B overlapping inside universal set U

Laws of Set Operations

  • Commutative law \[A \cup B = B \cup A \quad \quad A \cap B = B \cap A\]

  • Distributive law \[A \cup (B \cap C) = (A \cup B) \cap (A \cup C)\] \[A \cap (B \cup C) = (A \cap B) \cup (A \cap C)\]

Distributive law

Verify by shading: \(A \cup (B \cap C) = (A \cup B) \cap (A \cup C)\)

\(A\)

Blank three-set Venn diagram for shading the region A: sets A, B, and C overlapping inside universal set U

\(B \cap C\)

Blank three-set Venn diagram for shading the region B intersect C: sets A, B, and C overlapping inside universal set U

Distributive law

Now the right-hand side, \((A \cup B) \cap (A \cup C)\):

\(A \cup B\)

Blank three-set Venn diagram for shading the region A union B: sets A, B, and C overlapping inside universal set U

\(A \cup C\)

Blank three-set Venn diagram for shading the region A union C: sets A, B, and C overlapping inside universal set U

Ordered Sets

  • We said order does not matter for sets

  • But we can have ordered sets where \[(a,b) \neq (b,a) \text{ unless } a=b\]

  • Ordered pairs, triples,…

    • Example. \((age, weight)\), \((22,120)\) different from \((120,22)\)

Cartesian Product

The Cartesian product of two sets \(A\) and \(B\) is the set of all ordered pairs whose first element comes from \(A\) and second from \(B\): \[A \times B = \{(a,b) \mid a \in A, \; b \in B\}\]

Example. \(A = \{1,2\}\), \(B = \{3,4\}\) \[A \times B = \{ (1,3), (1,4), (2,3), (2,4) \}\]

Cartesian Plane

\[\mathbb{R}^2 = \{(x,y) | x \in \mathbb{R}, y \in \mathbb{R}\}\]

A Cartesian plane: a horizontal x-axis and a vertical y-axis crossing at the origin, each arrowed at both ends and running from negative 4 to 4, over a dotted unit grid

Can have \(\mathbb{R}^3, \mathbb{R}^4,...,\mathbb{R}^n\)

By the way

What is \(x \times x\)?

What is \(x^2 \times x\)?

What is \(x^2 \times x^2\)?

More generally, \(x^n \times x^m = x^{m+n}\).