Mathematical Economics

Mathematics is a deductive scientific conclusions are drawn from what have been assumed. While doing this, mathematics uses symbols which represent different things in different contexts. But symbols have to be put together or operated consistently in order to make meaningful statements about some given premises. Therefore, mathematics has its own rules to convey information and meaning. In this class we will learn about these rules as well as logical processes to make meaningful statements in the context of economics. Mathematics greatly helps with the process of building theories. Mathematical economics is the application of mathematical methods to represent economic theories and analyze problems posed in economics. It allows formulation and derivation of key relationships in a theory with clarity, generality, rigor, and simplicity. By convention, the applied methods refer to those beyond simple geometry, such as differential and integral calculus, difference and differential equations, matrix algebra, and mathematical programming and other computational methods. The book presents a very systematic presentation of the subject matter in simple and lucid language. Therefore, this book is of vital academic as well as national importance.