Basic Mathematics for Economists, now in its 3rd edition, is a classic of its genre and this new edition builds on the success of previous editions. Suitable for students who may only have a basic mathematics background, as well as students who may have followed more advanced mathematics courses but who still want a clear explanation of fundamental concepts, this book covers all the basic tenets required for an understanding of mathematics and how it is applied in economics, finance and business.
Starting with revisions of the essentials of arithmetic and algebra, students are then taken through to more advanced topics in calculus, comparative statics, dynamic analysis, and matrix algebra, with all topics explained in the context of relevant applications,
New features in this third edition reflect the increased emphasis on finance in many economics and related degree courses, with fuller analysis of topics such as:
- savings and pension schemes, including draw down pensions
- asset valuation techniques for bond and share prices
- the application of integration to concepts in economics and finance
- input-output analysis, using spreadsheets to do matrix algebra calculations
In developing new topics the book never loses sight of their applied context and examples are always used to help explain analysis. This book is the most logical, user-friendly book on the market and is usable for mathematics of economics, finance and business courses in all countries.
Table of Contents
1. Introduction 2. Arithmetic 3. Introduction to algebra 4. Graphs and functions 5. Simultaneous linear equations 6. Quadratic equations 7. Financial mathematics - series, time and investment 8. Introduction to calculus 9. Unconstrained Optimization 10. Partial Differentiation 11. Constrained Optimization 12. Further topics in differentiation and integration 13. Dynamics and Difference Equations 14. Exponential functions, continuous growth and differential equations 15. Matrix algebra
Mike Rosser is a former Principal Lecturer in Economics at Coventry University, UK.
Piotr Lis is a Senior Lecturer in Economics at Coventry University, UK.
‘This book is my go-to-guide for my intermediate microeconomics class. The author is able to explain well mathematical concepts which result in an extraordinary support to improve the mathematical ability of my students.’ — Gloria L. Bernal, Assistant Professor, Economics Department at Pontificia Universidad Javeriana, Columbia