Mathematics Economists

Master the Mathematical Tools Every Economist Needs – From Foundations to Advanced Optimization

Economics students will welcome the new edition of this excellent textbook. Mathematics is an integral part of economics and understanding basic concepts is vital. Many students come into economics courses without having studied mathematics for a number of years.

This collection of formulas constitutes a compendium of mathematics for eco­ nomics and business. It contains the most important formulas, statements and algorithms in this significant subfield of modern mathematics and addresses primarily students of economics or business at universities, colleges and trade schools. But people dealing with practical or applied problems will also find this collection to be an efiicient and easy-to-use work of reference. First the book treats mathematical symbols and constants, sets and state­ ments, number systems and their arithmetic as well as fundamentals of com­ binatorics. The chapter on sequences and series is followed by mathematics of finance, the representation of functions of one and several independent vari­ ables, their differential and integral calculus and by differential and difference equations. In each case special emphasis is placed on applications and models in economics. The chapter on linear algebra deals with matrices, vectors, determinants and systems of linear equations. This is followed by the representation of struc­ tures and algorithms of linear programming. Finally, the reader finds formu­ las on descriptive statistics (data analysis, ratios, inventory and time series analysis), on probability theory (events, probabilities, random variables and distributions) and on inductive statistics (point and interval estimates, tests). Some important tables complete the work.

The present collection of formulas has been composed for students of economics or management science at universities, colleges and trade schools. It contains basic knowledge in mathematics, financial mathematics and statistics in a compact and clearly arranged form. This volume is meant to be a reference work to be used by students of undergraduate courses together with a textbook and by researchers in need of exact statements of mathematical results. People dealing with practical or applied problems will also find this collection to be an efficient and easy-to-use work of reference.

Economics students will welcome the new edition of this excellent textbook. Mathematics is an integral part of economics and understanding basic concepts is vital. Given that many students come into economics courses without having studied mathematics for a number of years this clearly written book will help to develop quantitative skills in even the least numerate student up to the required level for a general Economics or Business Studies course.

Aimed at students studying economics, accountancy or business studies, this book assumes only an elementary grounding in mathematics. Learning by example and learning by practice are key features, with the book acting as a personal tutor rather than textbook. All the main topics on the mathematical side of a first year quantitative course are covered. Each chapter is divided into five sections; a review of the main subject matter; four or five typical problems with detailed answers; four problems with slightly less detailed answers; practice problems covering the key examination topics and full answers to questions. At the end of the book there is a section of problems suitable for final revision.