Description
This text offers a comprehensive presentation of the mathematics required to tackle problems in economic analysis. To give a better understanding of the mathematical concepts, the text follows the logic of the development of mathematics rather than that of an economics course. The only prerequisite is high school algebra, but the book goes on to cover all the mathematics needed for undergraduate economics. It is also a useful reference for graduate students. After a review of the fundamentals of sets, numbers, and functions, the book covers limits and continuity, the calculus of functions of one variable, linear algebra, multivariate calculus, and dynamics. To develop the student’s problem-solving skills, the book works through a large number of examples and economic applications.
This streamlined third edition offers an array of new and updated examples. [Some of the lengthier proofs and examples have been moved to the book’s Web site. This combination of formats allows the authors to add content without expanding the physical size of the book. The book and the Web material are integral to each other; examples and figures on the Web are cross-referenced in the text. A student solutions manual will be available in e-book form. Instructors will be able to access online instructor’s material that includes Power Point slides.
Table of Contents Part I Introduction and Fundamentals
1 Introduction
2 Review of Fundamentals
3 Sequences, Series, and Limits
Part II Univariate Calculus and Optimization
4 Continuity of Functions
5 The Derivative and Differential for Functions of One Variable
6 Optimization of Functions of One Variable
Part III Linear Algebra
7 Systems of Linear Equations
8 Matrices
9 Determinants and the Inverse Matrix
10 Some Advanced Topics in Linear Algebra
Part IV Multivariate Calculus
11 Calculus for Functions of n-Variables
12 Optimization of Functions of n-Variables
13 Constrained Optimization
14 Comparative Statics
15 Concave Programming and the Kuhn-Tucker Conditions
Part V Integration and Dynamic Methods
16 Integration
17 An Introduction to Mathematics for Economic Dynamics
18 Linear, First-Order Difference Equations
19 Nonlinear, First-Order Difference Equations
20 Linear, Second-Order Difference Equations
21 Linear, First-Order Differential Equations
22 Nonlinear, First-Order Differential Equations
23 Linear, Second-Order Differential Equations
24 Simultaneous Systems of Differential and Difference Equations
25 Optimal Control Theory
Michael Hoy is a faculty member in the Economics Department at the University of Guelph.
John Livernois is a faculty member in the Economics Department at the University of Guelph, Ontario.
Chris McKenna is a faculty member in the Economics Department at the University of Guelph, Ontario.
Ray Rees is a faculty member at the Ludwig Maximilians University, Munich.
Thanasis Stengos is a faculty member in the Economics Department at the University of Guelph, Ontario.