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Palgrave Macmillan

Mathematics for Economics

An integrated approach

Edition 3rd edition
ISBN 9780230278929
Publication Date March 2013
Formats Paperback Ebook (PDF) 
Publisher Palgrave Macmillan

Mik Wisniewski's Mathematics for Economics introduces and develops the mathematical skills and techniques necessary for any serious study of economics. The approach taken throughout the book is integrative, showing how mathematical techniques are an essential part of economic analysis. In this way the author is able to effectively illustrate the useful insights into economic behaviour that only mathematics can bring.

The practical focus of the book is reflected in its modular structure, in which concepts are presented in student-friendly chunks. Each module first illustrates why economists need a particular mathematical skill or technique. Next, the key principles of that mathematical technique are developed and explained. Finally, we see how that technique can be applied to common economic situations in order to improve our understanding of economic principles and behaviour.
 
Key features of the third edition include:
• A clear focus on the practical usefulness of mathematics to economic analysis
• A gradual progression of mathematical material throughout the text
• Ideal for students who have a limited mathematical background, but provides pathways for students to proceed at their own pace
• Progress Check and Knowledge Check activities throughout each module, so that students can check their own understanding
• Fully-worked examples are integrated into the end of each module showing a more complete and complex application to the student
• New module on probability in economic analysis
 
Available to lecturers: Access to a companion website at http://www.palgrave.com/companion/Wisniewski-Mathematics-For-Economics-Third-Edition/, which includes PowerPoint slides and an instructor's resource manual containing fully worked solutions to end-of-module exercises, as well as additional exercises for each module.

Mik Wisniewski is a Senior Research Fellow at the University of Strathclyde Business School, UK where he has specific research interests in performance measurement and performance management, particularly for public sector organisations. His research expertise relates to benchmarking, process mapping and the use of the balanced scorecard as well as business analysis and modelling. He has extensive teaching and consultancy experience across the UK, Europe, Africa and the Middle East in the areas of economic analysis, modelling and forecasting. He has worked with companies such as British Energy, British Gas, Shell, Scottish Power and with a variety of public sector organisations. 

Introduction
PART I: THE BUILDING BLOCKS OF ECONOMIC ANALYSIS
Tools of the Trade: the Basics of Algebra
Linear Relationships in Economic Analysis
Non-linear Relationships in Economic Analysis
PART II: LINEAR MODELS IN ECONOMIC ANALYSIS
The Principles of Linear Models
Market Supply and Demand Models
National Income Models
Matrix Algebra - the Basics
Matrix Algebra - the Matrix Inverse
Economic Analysis with Matrix Algebra
Economic Analysis with Matrix Algebra: Input-output Analysis 
PART III: OPTIMIZATION IN ECONOMIC ANALYSIS
Quadratic Functions in Economic Analysis 
The Derivative and the Rules of Differentiation
Derivatives and Economic Analysis
The Principles of Optimization
Optimization in Economic Analysis
Optimization in Production Theory
PART IV: OPTIMIZATION WITH MULTIPLE VARIABLES
Functions of More Than Two Variables
Analysis of Multi-variable Economic Models
Unconstrained Optimization
Constrained Optimization
PART V: FURTHER TOPICS IN ECONOMIC ANALYSIS
Integration and Economic Analysis
Financial Analysis in Economics I: Interest and Present Value
Financial Analysis in Economics II: Annuities, Sinking Funds and Growth Models
An Introduction to Dynamics
Probability and Economic Analysis
Appendices
The Greek Alphabet
Solutions to the Learning Check Activities
Solutions to the Progress Check Activities
Outline Solutions to the End-of-module Exercises

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Reviews

"In my several years of teaching mathematical methods in undergraduate economics I have found that what the students find particularly hard and difficult to grasp is not the mathematics itself but how to make mathematics "sing" economics. This book does a great job by teaching how mathematics used in economic models both reveals and is enlivened by economic intuition." – Sujoy Mukerji, Oxford University, UK
"Maths is necessary to learn and understand modern economic theory: Wisniewski's book is ideal for economics and business students that do not want to get lost in mathematical technicalities but aim at fully understanding the economic mechanisms behind it. The book covers a wide range of topics, the incremental structure allows students to start from the very basics to gradually reach the appropriate level, and all the instruments are presented simply and intuitively with an eye always on the economic applications." Carlo Reggiani, The University of Manchester, UK
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