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Contributions of Indian Mathematicians to Calculus in the Field of Economics

Description: This quiz is designed to assess your knowledge of the contributions made by Indian mathematicians to the field of calculus and its applications in economics.
Number of Questions: 16
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Tags: indian mathematics calculus economics
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Who is considered to be the father of Indian calculus?

  1. Bhaskara II

  2. Aryabhata

  3. Brahmagupta

  4. Madhava of Sangamagrama


Correct Option: D
Explanation:

Madhava of Sangamagrama is widely regarded as the father of Indian calculus due to his significant contributions to the development of calculus in the 14th century.

What is the name of the series developed by Madhava of Sangamagrama that is used to approximate the value of pi?

  1. Madhava-Gregory series

  2. Taylor series

  3. Fourier series

  4. Leibniz series


Correct Option: A
Explanation:

The Madhava-Gregory series is an infinite series used to approximate the value of pi. It was discovered by Madhava of Sangamagrama in the 14th century and later rediscovered by James Gregory in the 17th century.

Which Indian mathematician is known for his work on interpolation and numerical analysis?

  1. Aryabhata

  2. Brahmagupta

  3. Bhaskara II

  4. Nilakantha Somayaji


Correct Option: D
Explanation:

Nilakantha Somayaji was an Indian mathematician and astronomer who lived in the 15th century. He is known for his work on interpolation and numerical analysis, including the development of the Nilakantha series for approximating the value of pi.

What is the name of the method developed by Indian mathematicians for solving indeterminate equations?

  1. Cramer's rule

  2. Gauss-Jordan elimination

  3. Rolle's theorem

  4. Kutta's method


Correct Option: D
Explanation:

Kutta's method is a numerical method for solving indeterminate equations. It was developed by Indian mathematicians in the 12th century and is still used today for solving certain types of equations.

Which Indian mathematician is known for his contributions to the development of differential calculus?

  1. Aryabhata

  2. Brahmagupta

  3. Bhaskara II

  4. Srinivasa Ramanujan


Correct Option: D
Explanation:

Srinivasa Ramanujan was an Indian mathematician who lived in the early 20th century. He is known for his contributions to the development of differential calculus, including his work on modular forms and the Riemann zeta function.

What is the name of the theorem developed by Indian mathematicians that relates the derivative of a function to its integral?

  1. Fundamental theorem of calculus

  2. Cauchy-Riemann equations

  3. Green's theorem

  4. Stokes' theorem


Correct Option: A
Explanation:

The fundamental theorem of calculus is a theorem that relates the derivative of a function to its integral. It was developed by Indian mathematicians in the 12th century and is one of the most important theorems in calculus.

Which Indian mathematician is known for his work on the applications of calculus in economics?

  1. Amartya Sen

  2. Jagdish Bhagwati

  3. Manmohan Singh

  4. Raghuram Rajan


Correct Option: A
Explanation:

Amartya Sen is an Indian economist who has made significant contributions to the applications of calculus in economics. He is known for his work on welfare economics, social choice theory, and development economics.

What is the name of the model developed by Amartya Sen that uses calculus to analyze the relationship between poverty and inequality?

  1. Sen-Phelps model

  2. Solow-Swan model

  3. Harrod-Domar model

  4. Mundell-Fleming model


Correct Option: A
Explanation:

The Sen-Phelps model is a model developed by Amartya Sen and Edmund Phelps that uses calculus to analyze the relationship between poverty and inequality. It is based on the idea that poverty and inequality are not simply the result of a lack of resources, but also of social and economic institutions.

Which Indian mathematician is known for his work on the applications of calculus in finance?

  1. Raghuram Rajan

  2. Manmohan Singh

  3. Jagdish Bhagwati

  4. Abhijit Banerjee


Correct Option: A
Explanation:

Raghuram Rajan is an Indian economist who has made significant contributions to the applications of calculus in finance. He is known for his work on risk management, financial stability, and monetary policy.

What is the name of the model developed by Raghuram Rajan that uses calculus to analyze the risk of a financial crisis?

  1. Rajan-Zingales model

  2. Black-Scholes model

  3. Vasicek model

  4. Cox-Ingersoll-Ross model


Correct Option: A
Explanation:

The Rajan-Zingales model is a model developed by Raghuram Rajan and Luigi Zingales that uses calculus to analyze the risk of a financial crisis. It is based on the idea that financial crises are caused by a combination of factors, including excessive leverage, asset bubbles, and contagion.

Which Indian mathematician is known for his work on the applications of calculus in game theory?

  1. Abhijit Banerjee

  2. Jagdish Bhagwati

  3. Manmohan Singh

  4. Prajit Dutta


Correct Option: D
Explanation:

Prajit Dutta is an Indian mathematician who has made significant contributions to the applications of calculus in game theory. He is known for his work on cooperative game theory, non-cooperative game theory, and evolutionary game theory.

What is the name of the model developed by Prajit Dutta that uses calculus to analyze the stability of cooperative games?

  1. Dutta-Ray model

  2. Nash equilibrium

  3. Prisoner's dilemma

  4. Tragedy of the commons


Correct Option: A
Explanation:

The Dutta-Ray model is a model developed by Prajit Dutta and Debraj Ray that uses calculus to analyze the stability of cooperative games. It is based on the idea that the stability of a cooperative game depends on the distribution of payoffs among the players.

Which Indian mathematician is known for his work on the applications of calculus in information economics?

  1. Manmohan Singh

  2. Jagdish Bhagwati

  3. Abhijit Banerjee

  4. Vijay Krishna


Correct Option: D
Explanation:

Vijay Krishna is an Indian mathematician who has made significant contributions to the applications of calculus in information economics. He is known for his work on signaling games, auctions, and mechanism design.

What is the name of the model developed by Vijay Krishna that uses calculus to analyze the signaling game?

  1. Krishna-Morgan model

  2. Spence-Mirrlees model

  3. Akerlof model

  4. Diamond-Mortensen-Pissarides model


Correct Option: A
Explanation:

The Krishna-Morgan model is a model developed by Vijay Krishna and John Morgan that uses calculus to analyze the signaling game. It is based on the idea that players in a signaling game can send signals to each other in order to convey information about their private information.

Which Indian mathematician is known for his work on the applications of calculus in econometrics?

  1. Raghuram Rajan

  2. Jagdish Bhagwati

  3. Manmohan Singh

  4. C. Rangarajan


Correct Option: D
Explanation:

C. Rangarajan is an Indian mathematician who has made significant contributions to the applications of calculus in econometrics. He is known for his work on time series analysis, forecasting, and structural equation modeling.

What is the name of the model developed by C. Rangarajan that uses calculus to analyze the relationship between economic growth and inflation?

  1. Rangarajan-Dornbusch model

  2. Solow-Swan model

  3. Harrod-Domar model

  4. Mundell-Fleming model


Correct Option: A
Explanation:

The Rangarajan-Dornbusch model is a model developed by C. Rangarajan and Rudiger Dornbusch that uses calculus to analyze the relationship between economic growth and inflation. It is based on the idea that economic growth can lead to inflation if it is not accompanied by an increase in the supply of goods and services.

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