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Macmillan Higher Education Palgrave Higher Education

Mathematics for Economics

An integrated approach

Edition 3rd Edition
ISBN 9780230278929
Publication Date March 2013
Formats Paperback Ebook 
Publisher Palgrave

This book shows how mathematics is used in developing economic theory and in applied economic analysis. The text gradually develops the mathematical skills needed by students and allows them to progress at their own pace. A wide variety of examples shows how, and why, the application of mathematics has become essential to economists.

Mik Wisniewski is a Senior Research Fellow at the University of Strathclyde Business School, UK where he has specific research interests in performance measurement and performance management, particularly for public sector organisations. His research expertise relates to benchmarking, process mapping and the use of the balanced scorecard as well as business analysis and modelling. He has extensive teaching and consultancy experience across the UK, Europe, Africa and the Middle East in the areas of economic analysis, modelling and forecasting. He has worked with companies such as British Energy, British Gas, Shell, Scottish Power and with a variety of public sector organisations. 

Introduction
PART I: THE BUILDING BLOCKS OF ECONOMIC ANALYSIS
Tools of the Trade: the Basics of Algebra
Linear Relationships in Economic Analysis
Non-linear Relationships in Economic Analysis
PART II: LINEAR MODELS IN ECONOMIC ANALYSIS
The Principles of Linear Models
Market Supply and Demand Models
National Income Models
Matrix Algebra the Basics
Matrix Algebra the Matrix Inverse
Economic Analysis with Matrix Algebra
Economic Analysis with Matrix Algebra: Input-output Analysis 
PART III: OPTIMIZATION IN ECONOMIC ANALYSIS
Quadratic Functions in Economic Analysis 
The Derivative and the Rules of Differentiation
Derivatives and Economic Analysis
The Principles of Optimization
Optimization in Economic Analysis
Optimization in Production Theory
PART IV: OPTIMIZATION WITH MULTIPLE VARIABLES
Functions of More Than Two Variables
Analysis of Multi-variable Economic Models
Unconstrained Optimization
Constrained Optimization
PART V: FURTHER TOPICS IN ECONOMIC ANALYSIS
Integration and Economic Analysis
Financial Analysis in Economics I: Interest and Present Value
Financial Analysis in Economics II: Annuities, Sinking Funds and Growth Models
An Introduction to Dynamics
Probability and Economic Analysis
Appendices
The Greek Alphabet
Solutions to the Learning Check Activities
Solutions to the Progress Check Activities
Outline Solutions to the End-of-module Exercises

Reviews

"In my several years of teaching mathematical methods in undergraduate economics I have found that what the students find particularly hard and difficult to grasp is not the mathematics itself but how to make mathematics "sing" economics. This book does a great jobby teaching how mathematics used in economic models both reveals and is enlivened by economic intuition." – Sujoy Mukerji, Oxford University, UK
"Maths is necessary to learn and understand modern economic theory: Wisniewski's book is ideal for economics and business students that do not want to get lost in mathematical technicalities but aimat fully understanding the economic mechanisms behind it. The book covers a wide range of topics, the incremental structure allows students to start from the very basics to gradually reach the appropriate level, and all the instruments are presented simply and intuitively withan eye alwayson the economic applications." Carlo Reggiani, The University of Manchester, UK
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