Abstract

http://ssrn.com/abstract=2125667
 
 

References (33)



 
 

Footnotes (11)



 


 



A Primer on Mathematical Modelling in Economics


Birendra K. Rai


Max Planck Society for the Advancement of the Sciences - Max Planck Institute for Economics

Chiu Ki So


affiliation not provided to SSRN

Aaron Nicholas


affiliation not provided to SSRN

September 2012

Journal of Economic Surveys, Vol. 26, Issue 4, pp. 594-615, 2012

Abstract:     
The Commission on Graduate Education in Economics had raised several concerns regarding the role of mathematics in graduate training in economics (Krueger, 1991; Colander, 1998, 2005). This paper undertakes a detailed scrutiny of the notion of a utility function to motivate and describe the common patterns across mathematical concepts and results that are used by economists. In the process one arrives at a classification of mathematical terms which is used to state mathematical results in economics. The usefulness of the classification scheme is illustrated with the help of a discussion of Arrow's impossibility theorem. Common knowledge of the patterns in mathematical concepts and results could be effective in enhancing communication between students, teachers and researchers specializing in different sub‐fields of economics.

Number of Pages in PDF File: 22

Keywords: Arrow's impossibility theorem, Set theory, Utility function

Accepted Paper Series


Date posted: August 7, 2012  

Suggested Citation

Rai, Birendra K. and So, Chiu Ki and Nicholas, Aaron, A Primer on Mathematical Modelling in Economics (September 2012). Journal of Economic Surveys, Vol. 26, Issue 4, pp. 594-615, 2012. Available at SSRN: http://ssrn.com/abstract=2125667 or http://dx.doi.org/10.1111/j.1467-6419.2010.00655.x

Contact Information

Birendra K. Rai (Contact Author)
Max Planck Society for the Advancement of the Sciences - Max Planck Institute for Economics ( email )
Kahlaische Strasse 10
D-07745 Jena, 07745
Germany
Chiu Ki So
affiliation not provided to SSRN
No Address Available
Aaron Nicholas
affiliation not provided to SSRN
Feedback to SSRN


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References:  33
Footnotes:  11

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