Introductory Mathematical Economics

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A strong relationship exists between mathematics and modern economics, with mathematics extending and formalizing economic theory, while quantitative data shapes mathematical models. In this second edition, author D. Wade Hands introduces students to various mathematical tools and their applications to economic problems. The book starts with an overview of necessary mathematical background and progresses to advanced tools that enhance economic understanding. It blends classical and contemporary economic theory, covering standard techniques like optimization and comparative statics, alongside specialized topics such as uncertainty, dynamics, nonlinear programming, and matrix theory. Thoroughly revised, this edition includes a new Chapter 0, which serves as both a refresher and a reference for prerequisite mathematics. All end-of-chapter problems focus on economics, many requiring significant economic interpretation beyond technical analysis. These problems have been expanded and revised. Each chapter features boxes with economic examples of relevant mathematical concepts, discussing recent developments in economic theory and results that have influenced modern economics. With a clear and concise presentation of mathematical and economic concepts, this text is ideal for undergraduate courses in mathematical economics.