Mathematics for economists

Abstract

For better or worse, mathematics has become the language of modern analytical economics. It quantities the relationships hetwccn economic variables and among econwnic actors. It formalizes and clarifies properties of these relationships. In the process. it allows economists to identify and analyze those general propertics that are critical to the behavior of economic systems. Elementary economics courses use reasonably simple mathematical techniques to describe and analyze the models they present: high school algebra and geometry, graphs of functions of one variable, and sometimes onevariable calculus. They focus on models with one OT two goods in a world of perfect compelition complete inform&ml and no uncertainty. Courses beyond introductory micro- and macroeconomics drop these strong simplifying assumptions.