Fundamental Methods of Mathematical Economics, Volume 1984In this book, 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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Page 54
... parameters . For a general- function model containing , say , a total of m parameters ( a ,, a , ... , am ) -where m is not necessarily equal to n - the n equilibrium prices can therefore be expected to take the general analytical form ...
... parameters . For a general- function model containing , say , a total of m parameters ( a ,, a , ... , am ) -where m is not necessarily equal to n - the n equilibrium prices can therefore be expected to take the general analytical form ...
Page 189
... parameters a , b , c , and d . To find how an infinitesimal change in one of the parameters will affect the value of P , one has only to differentiate ( 7.14 ) partially with respect to each of the parameters . If the sign of a partial ...
... parameters a , b , c , and d . To find how an infinitesimal change in one of the parameters will affect the value of P , one has only to differentiate ( 7.14 ) partially with respect to each of the parameters . If the sign of a partial ...
Page 535
... parameters m ; and n ; are new . The latter parameters , upon which we have not placed any restrictions , play a significant role in the model , for it is in these parameters that buyers ' and sellers ' price expectations are embodied ...
... parameters m ; and n ; are new . The latter parameters , upon which we have not placed any restrictions , play a significant role in the model , for it is in these parameters that buyers ' and sellers ' price expectations are embodied ...
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a₁ analysis apply axis b₁ characteristic roots choice variables coefficient column comparative-static complementary function concave constant constraint convex set Cramer's rule curve d²z defined definite denoted determinant diagram difference equation differential equation discussion dual economic elements equilibrium Example EXERCISE exponential exponential function expression extremum feasible region first-order condition given graph identical indifference curves inequality input inverse isoquant Kuhn-Tucker limit linear program marginal mathematical matrix maximization maximum minimum multiplication negative nonlinear nonlinear programming nonnegative Note objective function optimal solution ordered pairs output parameters partial derivatives particular integral path payoff payoff matrix phase line player polynomial positive problem quadratic form quotient reader real numbers result rule satisfy scalar second derivative second-order condition slope Solve specific subset substitution symbol term theorem total differential vector write x₁ y₁ Y₁+1 zero