Fundamental Methods of Mathematical Economics

by Alpha C. Chiang

The best-selling, best known text in Mathematical Economics course, 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.

Genres: Economics, Mathematics, Textbooks, Business, Nonfiction, Academic, Science

788 pages, Hardcover

First published November 8, 1974

Reviews

[Chaya · Rating 4 out of 5]

I much prefer the organization of this to Simon & Blume's Mathematics for Economists--although many students may be more comfortable with calculus than linear algebra, putting the linear algebra first is worth the unease. Excellent explanations, sufficient for self-teaching. Good exercises too. I will be hanging on to this one!

[Fran · Rating 5 out of 5]

Note to self: main text for Econ 106: Elements of Mathematical Economics under Prof. Joseph Anthony Y. Lim, First Semester 1996-97, UP School of Economics.

For once in my student life in Diliman I enjoyed a math course because of Alpha Chiang!

[Fleur_de_soie · Rating 4 out of 5]

very good math preparation book for econ major. It could be used to undergraduate text, or graduate review book, since the level is a bit lower.

However, the author is very good at organizing material. Each part is started with an intuitive instruction and is closed with conclusion part which states the limitation with a certain method. So although this is a math book, the words really account, which really helps you to understand.

A book should not be rated simply according to its level. Thus, though it is a easy cake, I would recommend it to anyone wishing to have a concrete math foundation for further econ study. It really use econ theories, especially econ models to explain how to use the methods or theory. In fact, you could almost see all the major models in both Micro and Macro.

The exercises follows each session is a good examination for the important definitions and theory, clearing any misunderstanding in understand the book, which reveals that the author is really good at teaching. The focus of the exercises is in the basics: understand definitions and correctly use theorems or methods. Nothing advanced or technical there.

The reasons I did not give it a five star: the last chapter is so concise and general that I can hardly get anything useful(maybe he really makes efforts in his other book about this topic); you would find it a bit difficult to distinguish vectors and matrices from common letters, since there is no differences in printing in the book(however, the notation in the book really follows common practice which is why I decided to start with this book instead of Simon&Blume); there is no answers for a few chapters.

I read every chapter except the last one carefully and did all the exercises whenever there are answers for them. I really thinks I gain a lot from it. I should say I am confidence with undergraduate math.

[Ferenc · Rating 3 out of 5]

What struck me the most with this book is how Professor Chiang takes such care and effort to explain everything in words, as clearly as possible. It is the most readable textbook I've come across on mathematics, it is unpretentious and non-elitist.

I am only interested in empirical research, using statistical techniques, and I was looking for a good book that could prepare me for studies in mathematical statistics, this book covered more than I needed.

For mathematical economists this book covers the minimum amount of mathematics that you need, after this book you can branch out into other specializations such as advanced calculus and real analysis.

If you are a learner who is just after the basics then I would not buy the [expensive] later editions, the older ones are just as good. The main difference between them is that in the later editions he includes some extra advanced material.

[Amal Ahmad · Rating 5 out of 5]

Easily the best book on math for economists out there. Professor Chiang does an incredible job of taking you slowly and patiently through laborious concepts - making them feasible and explaining their relevance to economic analysis. Really recommend it for graduate students , especially those like myself with a history of math-phobia!

[die María · Rating 5 out of 5]

Many mathematical economics books are very heavy to follow, and don´t actually aim to the main goal: making the student fully understand the context and mathematics behind it. But this one really is an exception. I think I may be in love with Chiang...

[Alexander Whyte · Rating 3 out of 5]

I highly recommend this book if you plan on studying an Economics MSc. I worked through this book during my undergraduate years, so it is not overly complicated. Despite taking several years out before returning to university to undertake my MSc, I still remembered many of the methods presented in this book, which helped me in the compulsory maths and statistics modules.

[Ashlee · Rating 4 out of 5]

The standard primer for mathematical economics, for a reason. I've seen it used in both undergrad and graduate coursework.

[Tip · Rating 4 out of 5]

Very good

[Shibajee Samaddar · Rating 4 out of 5]

This is a good textbook. The economic models provided are very good. But this book is of no use to learn mathematics. In fact, the mathematics' section are poorly written.

[Emtiaz Hossain Hritan · Rating 4 out of 5]

Only issue is they didn't talk about the row echelon way of solving matrix- which is covered in Simon-Blume. It's written in a very informal way, so great for self study. It involves a lot of examples from microeconomics like Duality, Roy's identity, indirect utility functions, expenditure function etc.

[Rajinder]

Thanks

[Paul, · Rating 2 out of 5]

Required text for my mathematical methods for economics course. Not bad

[Parkash]

just starting now

[Marcos · Rating 4 out of 5]

Great textbook! This was the main course literature for two of my maths classes that introduced matrix algebra and then focused on optimisation problems, difference/differential equations.

[Huberta Naana Dickson · Rating 5 out of 5]

Very good book that covers everything one needs to know in Economics math. From an indepth coverage of matrices to static,dynamic analysis and game theory.

[YEORDAGAS · Rating 4 out of 5]

Well written but too lengthy imo

[Shota · Rating 4 out of 5]

学部レベルの経済学を学ぶための最低限必要な数学知識をつけるならば、この本は非常に有用である。

著者は数学が全くわからない人の気持ちを、しっかり理解しているようだ。解説は始終飛躍することなく進められるため、途中で分からなくなることは少ないはずだ。

[Thinker]

fuck

[Bill Zhou · Rating 5 out of 5]

Fundamentals for economics.

[Sergey Alexeev · Rating 5 out of 5]

Anything you might ever need for ecmath in gradschool

[Edmund · Rating 5 out of 5]

By a wide margin, the best math-for-econ book out there. Pair it up with some cheap Dover books for further elaboration and you can't go wrong.

[Stevenglinert · Rating 4 out of 5]

Lifesaver.

[Koli · Rating 5 out of 5]

fill

[Soloda]

good

[Shaista]

i will get true information from this book

[Muhammad Nadeem]

i Want to get this book

[Anh Tuan Nguyen · Rating 5 out of 5]

very comprehensive book

[Alex]

I need to read this book

[Imam Syibron · Rating 5 out of 5]

very good