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About Maths For Economics
- Mathematical economics is the application of mathematical methods like calculus, equations, and modeling to economic theories and problems. This allows theories to be formulated rigorously and makes testable propositions about complex subjects. - The mathematization of economics began in the 19th century and increased through the 20th century with new techniques like game theory. However, some economists have criticized using math to model inherently non-quantitative human choices. - Pioneers in mathematical economics included Cournot, Walras, and Jevons, who developed utility maximization and general equilibrium theory using equations and optimization. This laid the foundations for modern neoclassical economics.
Detailed Information
| Author: | ['kentbnx'] |
|---|---|
| Publication Year: | 2016 |
| Pages: | 17 |
| Language: | English |
| Format: | |
| Price: | FREE |
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