The best-selling, best known text in Mathematical Economics course, Chiang teaches the basic mathematical methods indispensable for understanding current economic literature. The book's patient explanations are written in an informal, non-intimidating style. To underscore the relevance of mathematics to economics, the author allows the economist's analytical needs to motivate the study of related mathematical techniques; he then illustrates these techniques with appropriate economics models. Graphic illustrations often ...
The best-selling, best known text in Mathematical Economics course, Chiang teaches the basic mathematical methods indispensable for understanding current economic literature. The book's patient explanations are written in an informal, non-intimidating style. To underscore the relevance of mathematics to economics, the author allows the economist's analytical needs to motivate the study of related mathematical techniques; he then illustrates these techniques with appropriate economics models. Graphic illustrations often visually reinforce algebraic results. Many exercise problems serve as drills and help bolster student confidence. These major types of economic analysis are covered: statics, comparative statics, optimization problems, dynamics, and mathematical programming. These mathematical methods are introduced: matrix algebra, differential and integral calculus, differential equations, difference equations, and convex sets.
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This has to be the most well-explained and well-written textbook on this subject and is perfect for both undergraduate and post-graduate study. He explains alot in words and connects the mathematics to economic theory very well. In my opinion it covers all the mathematics you will ever need as an economist, more advanced stuff than this is redundant...unless you really love mathematics, but then you should probably have a majored in mathematics instead. It is important to remember that Economics is more of a 'Practical Philosophy' than a Science, so it is the Ideas that should matter the most, not the math. In summary, a great book that takes you from the very basics to advanced levels.
Mar 11, 2010
A good introduction for the
Chiang & Wainwright manage to cram a lot of information into a fairly brief book. This will provide econ majors with some of the necessary tools - eg teaching them Cramer's rule for matrix algebra, some topics in calculus of several variables etc - that enables them to cope with introductory micro- and macroeconomics. It will not, however, prepare them properly for mathematical economics or graduate studies. The reader will learn a lot of mathematical methods and tools, but they will not - though they may believe so - gain a proper understanding of how they actually work.
Though a maths student may sneer at some of the oversimplifications, and the lack of proofs and theorems, this is a very good introduction. For those who want to go on studying economics (or, indeed, understand even the calculus presented in books such as the - mathematically - fairly basic 'Introduction to Modern Economic Growth') this should not be the sole text.
Dec 10, 2007
This book is exactly what i want for skool.. even though the cover is not the same as shown on top but it has the same pages and same exercises which was important in practicing 4 the midterm and exam and the assignments as well..
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