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Fundamental Methods of Mathematical Economics

Fundamental Methods of Mathematical Economics

List Price: $122.18
Your Price: $116.07
Product Info Reviews

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Rating: 5 stars
Summary: Great Introduction to Mathmatical Economics
Review: I used Chaing's book for an intro the mathematical economics as an econ undergrad. Much of the material is useful for both advanced undergraduates and graduate studies. I especially found the optimization (applied differential calculus) and matrix algebra useful. Using an input output coefficient matrix (as described in the text) we were able to see how Russia operated under the communist regime. We used GAMMS for the mathematical programming. Overall the course and this book were an eye opening experience to applying mathematical models to real world problems. I hope to explore this realm of thinking further in my graduate studies. I highly recommend this book, even to people with a somewhat limited math background (1 calculus course).

Rating: 5 stars
Summary: Wonderful Book
Review: I used this book as a review of the mathematical concepts before entering my Ph. D. program. It is extremely helpful and well-written. From the very beginning, Chiang does a good job in explaining things. I initially complained about the dragging discussion on convex sets. Later on, I realized the importance of such in optimization, and finally understood why Chiang had the reader go through that much detail. A decent background in calculus and statistics is probably sufficient to get you through this book on your own. Although the last edition of this book was written in 1984, I think that it's still one of the best reference books that you can have.

Rating: 5 stars
Summary: Wonderful Book
Review: I used this book as a review of the mathematical concepts before entering my Ph. D. program. It is extremely helpful and well-written. From the very beginning, Chiang does a good job in explaining things. I initially complained about the dragging discussion on convex sets. Later on, I realized the importance of such in optimization, and finally understood why Chiang had the reader go through that much detail. A decent background in calculus and statistics is probably sufficient to get you through this book on your own. Although the last edition of this book was written in 1984, I think that it's still one of the best reference books that you can have.

Rating: 5 stars
Summary: Great Text & Reference Book
Review: 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 stars
Summary: For undergraduates only
Review: It goes without saying that Chiang's is a wonderful introductory mathematical economics text. Any undergraduate students who have mastered the first 12 chapters of Chiang's should be able to read intermediate-level economics texts such as Microeconomic Theory by Henderson and Quandt (1980) and Macroeconomics by Branson (1989). However, Chiang's is not a sufficient prerequisite for those who wish to read more advanced economics texts such as Microeconomic Analysis by Hal Varian (1992) and Advanced Macroeconomics by David Romer (1996).

Rating: 2 stars
Summary: Never quite goes to the point
Review: Mathematicians should like this book, not economists. The text focuses on mathematic theory, not on calculations and economic applications. This text is not good for applied economics or business.

Rating: 1 stars
Summary: Fundamental Methods of Mathematical Economics
Review: Mathematicians should like this book, not economists. The text focuses on mathematic theory, not on calculations and economic applications. This text is not good for applied economics or business.

Rating: 5 stars
Summary: A Wonderful Foundation
Review: Professor Chiang's "Fundamental Methods of Mathematical Economics" has become the classic preparatory text for students beginning a course of quantitative study in economics and finance. It has been in print for nearly a generation, and with good reason. Chiang's achievement is to have created a learning programme that can take a modestly numerate person all the way from basic matrix algebra through limits, continuity and derivatives past simple differential equations all the way to optimisation theory and linear programming. And all in one volume! Little prior training is required for this journey - all you need is basic algebra. The explication is admirably clear, there are plenty of good practice examples and the pace is moderate. "Mastering Chiang," as one of my old professors used to call it, provides an excellent foundation for the economics or finance student and will admirably equip him or her to deal with the more rigorous challenges ahead.

Rating: 5 stars
Summary: classic
Review: The third edition of this book has been around for 18 years already and perhaps my present professors learned from this book. Prof. Chiang's way of teaching the subject is the ideal; he talks to the readers and makes them feel confident. This is the best book to prepare an undergraduate economics major who wants to pursue graduate studies in economics, however, it would be better to supplement this with other mathematics/mathematical economics textbooks available, such as Simon/Blume or Sydsaeter/Hammond.

Rating: 5 stars
Summary: classic
Review: The third edition of this book has been around for 18 years already and perhaps my present professors learned from this book. Prof. Chiang's way of teaching the subject is the ideal; he talks to the readers and makes them feel confident. This is the best book to prepare an undergraduate economics major who wants to pursue graduate studies in economics, however, it would be better to supplement this with other mathematics/mathematical economics textbooks available, such as Simon/Blume or Sydsaeter/Hammond.


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