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Cover

Introductory Mathematical Economics

Second Edition

D. Wade Hands

Publication Date - July 2003

ISBN: 9780195133783

400 pages
Hardcover
6-1/8 x 9-1/4 inches

In Stock

This second edition offers students a wide range of mathematical techniques and the associated economic theory.

Description

A strong relationship clearly exists between mathematics and modern economics; mathematics helps extend and formalize economic theory, and quantitative economic data influences the development and refinement of mathematical models. In Introductory Mathematical Economics, 2/e, author D. Wade Hands introduces students to a variety of new mathematical tools and explains how to apply those tools to a broad range of economic problems. The book begins with an overview of the necessary mathematical background, then presents a number of more advanced mathematical tools that allow students to expand their knowledge of economics. It offers a mix of classical and contemporary economic theory, covering the standard mathematical techniques such as optimization and comparative statics, as well as more specialized topics such as uncertainty, dynamics, nonlinear programming, and matrix theory.
Thoroughly revised and updated, this second edition offers students a wide range of mathematical techniques and the associated economic theory. The new Chapter 0, a mathematical review covering all prerequisite mathematics, serves as both a precourse mathematics refresher and a handy reference. All end-of-chapter problems are economics problems; many are detailed and require a substantial amount of economic interpretation in addition to the technical analysis. These problems have been revised and expanded in this second edition. Boxes in each chapter provide economic examples of relevant mathematical concepts. Several boxes discuss recent developments in economic theory, while others present results that influenced the evolution of modern economics. Featuring a clear and concise presentation of mathematical and economic concepts, Introductory Mathematical Economics, 2/e, is ideal for undergraduate courses in mathematical economics.

Previous Publication Date(s)

July 1980

Table of Contents

    Starting with Chapter 1, each chapter ends with Problems and Notes.
    Mathematical Notation
    Mathematical Symbols
    The Greek Alphabet
    Chapter 0: Review of Mathematics
    0.1. Some Basic Mathematical Concepts
    0.2. Calculus
    0.3. Matrices and Related Topics
    Chapter 1: Economic Applications of One-Variable Calculus
    1.1. Applications of One-Variable Calculus from Introductory Economics
    1.2. Optimization Examples from Introductory Economics
    1.3. An Introduction to Concavity and Convexity
    Chapter 2: Economic Applications of Multivariate Calculus
    2.1. Partial Derivatives and the Total Difference in Economics
    2.2. Homogeneous Functions
    2.3. Homothetic Functions
    2.4. Concave Functions in n Variables
    Chapter 3: Comparative Statics I: One and Two Variables with and without Optimization
    3.1. Equilibrium Comparative Statics in One and Two Dimensions
    3.2. Comparative Statics with Optimization in One and Two Dimensions
    3.3. Comparative Statics with Both Equilibrium and Optimization
    Chapter 4: Integration, Time, and Uncertainty in Economics
    4.1. Integration
    4.2. Time
    4.3. Uncertainty
    Chapter 5: Introduction to Continuous Time Dynamics in One and Two Dimensions
    5.1. Single-Market Competitive Equilibrium
    5.2. Examples of One-Variable Dynamic Economic Models
    5.3. Multiple-Market Competitive Equilibrium
    5.4. A Macroeconomic Example
    5.5. An Alternative Notion of Stability
    Chapter 6: Matrices and Economic Theory
    6.1. Submatrices and Minors
    6.2. Cramer's Rule in Economics
    6.3. Inverse- and Implicit-Function Theorems
    6.4. A Special Class of Matrices: M Matrices
    6.5. The Leontief Input-Output System
    6.6. Quadratic Forms and Definiteness
    Chapter 7: Comparative Statics II: n Variables with and without Optimization
    7.1. Equilibrium Comparative Statics in n Dimensions
    7.2. Comparative Statics with Optimization in n Dimensions
    Chapter 8: Comparative Statics III: Optimization under Constraint
    8.1. The Lagrange Technique: First- and Second-Order Conditions
    8.2. A Specific Utility Function
    8.3. Choice between Labor and Leisure
    8.4. Comparative Statics from Constrained Optimization: Two Approaches
    8.5. Consumer Choice: The n -Good Case
    8.6. Additively Separable Utility Functions
    Chapter 9. Inequality Constraints in Optimization Theory
    9.1. A Simple Inequality Constraint
    9.2. The General Kuhn-Tucker Theorem
    9.3. Economic Examples of Kuhn-Tucker Theory
    9.4. Linear Programming
    References
    Appendix: Answers to Selected Problems
    Index