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Title: Fundamental Methods of Mathematical Economics by Alpha C. Chiang ISBN: 0-07-010813-7 Publisher: McGraw-Hill/Irwin Pub. Date: 01 February, 1984 Format: Hardcover Volumes: 1 List Price(USD): $130.65 |
Average Customer Rating: 4.53 (19 reviews)
Rating: 5
Summary: Great Text & Reference Book
Comment: I used this book in my Mathematical Economics textbook in an Economics Masters program. This book covers ALOT of basic math material needed in economics. It is an excellent text/reference/review math book for a graduate level student in economics and possibly other areas in the social sciences. I highly recommend this book to any economics student (though it may be difficult for some undergraduates).
It covers the basics of number theory, economics related math (i.e. market equilibriums, etc.), linear (matrix) algebra, comparative static analysis, differentiation, integration, logarithmic & exponential functions, differential equations, and more that we did not cover in the class like programming. Even if you have taken many math classes outside of the field in economics, this book is a great bridge to apply that math to economics.
While most of the math in this book is not specific to economics, I would not strongly recommend it to science majors since only math that is commonly used in economics is discussed (i.e. no trig functions). In addition, this book does not cover econometrics (statistics) or probability at all.
For a hard-cover textbook, this book is small and relatively light so it would make a great reference book to keep in your bookbag.
Rating: 5
Summary: A must read for graduate students in economics
Comment: Alpha Chiang's text should serve as the foundation for all quantitive analysis done in economic theory. It is an invaluable teaching tool for graduate students in economics and will help them better understand the mathematical techniques that have become so necessary for economic modeling.
I am not a highly quantitative person myself, but I found Chiang's book comprehensible and a useful reference guide in my gradaute economics classes. Along with Hal Varian's "Microeconomic Theory" and Jan Kmenta's "Econometrics", I would say that Chiang's "Fundamentals of Mathematical Economics" should serve as sacred literature for any prospective graduate student in economics.
Rating: 2
Summary: Never quite goes to the point
Comment: I am writing my PhD dissertation in Economics. I was first assigned this book almost 10 years ago during my second year undergraduate course in mathematics for economists. This book has then kept resurfacing, for instance in the summer course in math that preceded my master.
Actually, I quite dislike the book. Lukily, I was given the choice between this book and Simon&Blume and I chose the latter. I unfortunately bought Chang first and started studying this becuase it was the "preferred text".
It turns out that Chang tries to make it too easy. It's great when books make the subject easy, and I abhor formalism for its own sake, but when you have to wade through pages and pages of bubbling and exercises to find out what the chapter is all about, then it is too sloppy. Please have nicely stated assumption, theorem, nicely worked out examples and explanations. No! Chang thinks that it is better to work out for you tons of examples without bothering to put it all together in a nice statement. I get lost in this! Too easy is wrongly easy, if the text book omit to clearly state all the assumptions (because it would be too difficult) you can be sure that my profs put a tricky case in the exam in which the assumptions are violated and you don't know what to do, because Chang never stated them, nor bothered to solve that specific case - or maybe he did solve that case but it got lost among the others.
Have a look at the table of content. The first half of the book is appropriate for a first undergraduate course in mathematics for economists, and the second half for a second course. It won't lead you much further than that.
Most masters will require you to learn at least hamiltonians (but that's easy). True problem is that this book does not really give you good basis for thinking mathematically in graduate school.
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Title: Econometric Analysis by William H. Greene, William H Greene ISBN: 0130661899 Publisher: Prentice Hall Pub. Date: 22 August, 2002 List Price(USD): $130.00 |
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Title: Microeconomic Theory: Basic Principles and Extensions by Walter Nicholson ISBN: 0030335930 Publisher: South-Western College Pub Pub. Date: 26 October, 2001 List Price(USD): $117.95 |
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Title: Mathematics for Economists by Carl P. Simon, Lawrence Blume ISBN: 0393957330 Publisher: W.W. Norton & Company Pub. Date: April, 1994 List Price(USD): $122.15 |
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Title: Microeconomic Analysis by Hal R. Varian ISBN: 0393957357 Publisher: W.W. Norton & Company Pub. Date: March, 1992 List Price(USD): $80.95 |
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Title: Schaum's Outline Introduction to Mathematical Economics by Edward T. Dowling ISBN: 007135896X Publisher: McGraw-Hill Trade Pub. Date: 30 August, 2000 List Price(USD): $15.95 |
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