Essential Mathematics for Economics and Business

Essential Mathematics for Economics and Business

Essential Mathematics for Economics and Business

Essential Mathematics for Economics and Business

Synopsis

Essential Mathematics for Economics and Business has become established as one of the leading introductory books on mathematics. It combines a non-rigorous approach to mathematics with applications in economics and business. The fundamental mathematical concepts are explained as simply and as briefly as possible, using a wide selection of worked examples, graphs and real-world applications.
  • This second edition includes new material on important topics such as: currency conversion, annuities, debt repayment, sinking funds and Excel for linear algebra
  • Sections rewritten in a clearer and more accessible style
  • Includes a supplementary web page

" Excellent for those coming to maths after school/university.... it is absolutely excellent as a text to get you up to speed very quickly. The explanations are clear and very well thought out without sacrificing important concepts. I couldn't recommend it highly enough as a text book to give you a leg up into more involved mathematical economics."
- Amazon.co.uk 24 August 2004

"the most comprehensive reader in this topic yet, this book is an essential aid to the avid economist who loathes mathematics!"
- Amazon.co.uk 25 January 2002

Excerpt

Many students who pursue the study of economics and business studies are surprised and perturbed when they discover that mathematics is a core subject on first-year courses. However, a certain level of skill and understanding of the basic mathematical methods is required if the study of economics or business is to be pursued beyond the descriptive level. Students should be reassured that it is not necessary to become a mathematician to use mathematical techniques and methods effectively.

An Approach to Learning to Use Mathematics

Learning to use mathematics could be compared to learning to drive. In either case, the quote from the Chinese philosopher Lao Tse is appropriate:

You read and you forget; you see and you remember; you do and you learn.

At the outset the learner-driver is presented with a bewildering set of rules and tasks, some of which must be performed simultaneously, some sequentially. There are sound, sensible reasons for each of these rules, as learners will discover on their first outing on a public road. Mastering driving skills and gaining a sense of how to control the car only comes about by following closely the routines demonstrated by the instructor, then practising them over and over again, sometimes patiently, sometimes not! In the end, the new driver will be able to handle a car easily and effortlessly, as if it were second nature. With these newly acquired skills life is enhanced with previously unavailable choices. The new driver (with a car!) can . . .

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