Math for Economics
Economics: it relates to every aspect of our lives. From the small individual choices we make, to the giant structures created by governments and businesses, they are all fueled by economic thinking. It’s therefore no coincidence that economists are often on the news, giving expert opinions on what is happening in the world, and what our future life might look like.
It’s therefore not unimportant that future economists get the best education they can. And even though on the surface economists and mathematicians seem very different, an in-depth study of economics requires a great understanding of math. Especially calculus is of great importance to economists, as it provides the language of economics and the means by which economists solve problems. In fact, it is of great significance to a (future) economists who wants to understand key principles.
For example, the change of one variable relative to a different variable is, which is called derivatives in calculus terms, is identical to what economists call marginalism. Marginalism looks at the change in an outcome resulting from Derivatives in calculus, or the change in one variable relative to the change in another, are identical to the economic concepts of marginalism. The key focus of marginalism is how much extra use is gained from incremental increases in the quantity of goods created, sold, etc. and how those measures relate to consumer choice and demand.
Content and Functionalities
This course covers all the subjects you can expect from a Math for Economics course: differentiation, derivatives, elasticity, polynomials, (multivariate) functions, optimization and much more. The explanations and exercises are adapted to be a better fit with social sciences audiences.
Furthermore, we apply all of our mathematical concepts to economic problems, related to micro- and macroeconomics. This course is therefore an effective mix of pure and theoretical mathematics. This way students are able to apply the mathematical theory they learned to subjects they encounter in the rest of their studies, deepening their understanding as they go.
With this new Math for Economics course, we enable the social sciences to benefit from our interactive and adaptive platform, while at the same time providing students with an in-depth understanding of the why of economics.
Make sure to check out a few of these applied calculus problems in our short demo for this new Calculus for the Social Sciences course. You can do so right here.
Let’s talk again soon,