Mathematics for Economics and Finance: Methods and Modelling

by Martin Anthony, Norman Biggs

Overview

Accessible, concise, and interactive, this book introduces the mathematical methods that are indispensable in economics and finance. Fully updated to be as student friendly as possible, this edition contains extensive problems, worked examples and exercises (with full solutions at the end of the book). Two brand new chapters cover coupled systems of recurrence/differential equations, and matrix diagonalisation. All topics are motivated by problems from economics and finance, demonstrating to students how they can apply the mathematical techniques covered. For undergraduate students of economics, mathematics, or both, this book will be welcomed for its clarity and breadth and the many opportunities it provides for readers to practise and test their understanding.

Product Details

ISBN-13:	9781108459433
Publisher:	Cambridge University Press
Publication date:	05/30/2024
Edition description:	2nd Revised ed.
Pages:	436
Sales rank:	354,361
Product dimensions:	6.00(w) x 1.25(h) x 9.00(d)

About the Author

Martin Anthony is Professor of Mathematics at the London School of Economics and Political Science, where he has been Head of Department and Vice-Chair of the Academic Board. He is the author of five books. Martin has been heavily involved in LSE's distance learning initiatives through the University of London International Programme and is a recipient of multiple LSE Teaching Excellence Awards.

Norman Biggs is Professor Emeritus in the Department of Mathematics at the London School of Economics and Political Science, where he was Head of Department and Vice-Chair of the Appointments Committee. He is the author of thirteen books, including 'Discrete Mathematics' (Second Edition, 2002). He previously served as General Secretary of the London Mathematical Society.

Table of Contents

1. Mathematical models in economics; 2. Mathematical terms and notations; 3. Sequences, recurrences and limits; 4. Elements of finance; 5. The cobweb model; 6. Introduction to calculus; 7. Some special functions; 8. Introduction to optimisation; 9. The derivative in economics I; 10. The derivative in economics II; 11. Partial derivatives; 12. Applications of partial derivatives; 13. Optimisation in two variables; 14. Vectors, preferences and convexity; 15. Matrix algebra; 16. Linear equations I; 17. Linear equations II; 18. Inverse matrices; 19. The input output model; 20. Determinants; 21. Constrained optimisation; 22. Lagrangians and the consumer; 23. Second-order recurrence equations; 24. Macroeconomic applications; 25. Areas and integrals; 26. Techniques of integration; 27. First-order differential equations; 28. Second-order differential equations; Selected solutions.

Editorial Reviews

'Throughout, the stress is firmly on how the mathematics relates to economics, and this is illustrated with copious examples and exercises that will foster depth of understanding.' L'Enseignement Mathématique

From the Publisher