Not all of this tale of economics is riveting. Sometimes, you have to eat your vegetables to gain an understanding of more complex concepts. This chapter investigates the fundamentals of economic model design, behavioral economics, and game theory.
The mathematics of economics is an application of mathematical methods to describe economic theories and perform problem analysis. It allows economists to form meaningful, testable propositions. These propositions involve wide-ranging and complex subjects that they can’t express informally. Further, the use of mathematics enables economists to make specific, descriptive claims involving controversial or contentious issues that are difficult to convey without ...
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