An updated edition of the essential textbook for students of economics at every level, with comprehensive coverage of mathematical theory and practice alongside carefully chosen exercises
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Malcolm Pemberton is Senior Lecturer in Economics at University College London
Nicholas Rau is Honorary Senior Lecturer in Economics at University College London
This book, now in its fourth edition, is a self-contained treatment of all the mathematics needed by undergraduate and masters-level students of economics: calculus, matrix algebra, probability, optimisation and dynamics. The emphasis throughout is on intuitive argument and problem-solving, and all methods are illustrated by well-chosen examples, exercises and problems selected from central areas of modern economic analysis.
Clear, systematic and building up gently from a very low level, the book can be used in a variety of course formats for students with or without prior knowledge of calculus, for reference and for self-study. The last two chapters provide an introduction to the rigorous mathematical analysis used in graduate-level economics, and two chapters on probability theory, new to this edition, provide the essential mathematical background for upper-level courses on economic theory, econometrics and finance.
Answers to all exercises and complete solutions to all problems are available online from a regularly updated website.
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