Saturday, February 13, 2016

Review of "Applications of Mathematics in Economics," edited by Warren Page

Review of
Applications of Mathematics in Economics, edited by Warren Page, The Mathematical Association of America, Washington, D. C., 2013. 133 pp., $40.00 (paperback). Print ISBN 978-0-88385-192-0, Electronic ISBN 978-1-6144-317-9.

 Simple and usable economic models can be developed using mathematics before calculus, they make excellent examples of how mathematics is used in the world. This book contains a set of nine fundamental economics principles that are introduced using the mathematics and sets of problems for the reader to consider and solve. Solutions to all of the problems are given at the ends of the chapters. The problems are not bunnies by any means, they are complex and descriptive of the material.
 The chapter titles are a description of the coverage and they are:

*) Microeconomics
*) Scenarios involving marginal analysis
*) Intermediate macroeconomic theory
*) Closed linear systems
*) Mathematics in behavioral economics
*) Econometrics
*) The portfolio problem
*) Topics in modern finance
*) Maximizing profit with production constraints

 As you can see from this list, there is significant breadth in the areas covered. Teachers of math courses from basic algebra to many math major courses will find problems that they can use in their classes.

This book was made available for free for review purposes


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