2nd Edition
Mr Leighton Thomas
1999 384 pages 0201-36050-0 (Paperback)
This text explains the basics
of mathematics and how it can be used in economics. The book is an ideal introduction to
mathematics for students of economics, whatever their mathematical background. The first
part of the book deals with equation systems and their solutions. It draws the distinction
between the structural and reduced forms of equation systems and this provides a recurring
theme throughout the book. The middle section deals with differential and integral
calculus with particular stress on constrained optimisation problems. There are separate
chapters on the mathematical economics of the firm and the consumer, and the book
concludes with introductions to dynamic analysis and matrix algebra.
A new section on basic algebra will be included at the beginning of the text, which will
provide the mathematical prerequisites for a proper understanding of the rest of the book
and would aim to remedy any mathematical deficiencies of students entering university.
More exercises will be added throughout the book, particularly examples involving
comparative statics.
The chapter on matrix algebra will be expanded to involve determinants and more material
on inverse matrices.
Features
* successfully weaves mathematics and economics
* includes a new section on basic algebra
* case studies and real world examples throughout the text
* introduces a substantial economics content into the book at an early stage
* the book is written at a level that is appropriate for students with varying
mathematical
backgrounds and abilities
* comprehensive range of topics for a remedial course
Contents:
Preface.1 Functions and equations. 2 Simultaneous linear equations. 3 Stocks, flows and
equilibrium in economics. 4 The reduced and structural forms of equation systems. 5
Stock-flow markets. 6 Geometric progresssions and discounted cash flows. 7 The
differentiation of functions of one variable. 8 Higher-order derivatives. 9 Integration.
10 Differentiation of functions of more than one variable. 11 Total differentials and
total derivatives. 12 Unconstrained and constrained optimisation. 13 Calculus in economics
I: the firm 14 Calculus in economics II: the consumer. 15 Exponential and logarithmic
functions. 16 Introduction to dynamics. 17 Introduction to matrix algebra
