Basic Mathematics for Economists - Rosser - Overview pptx
Basic Mathematics for Economists - Rosser - Overview pptx
... e-Library, 2003.
ISBN 0-2 0 3-4 226 3-5 Master e-book ISBN
ISBN 0-2 0 3-4 243 9-5 (Adobe eReader Format)
© 1993, 2003 Mike Rosser
Basic Mathematics for Economists
Economics students will welcome the new edition ... of course, am
responsible for any remaining errors or omissions.
© 1993, 2003 Mike Rosser
Basic Mathematics for
Economists
Second Edition
Mike Ro...
Basic Mathematics for Economists - Rosser - Chapter 1 pptx
... quantification
of economic predictions requires the use of mathematics.
Although non-mathematical economic analysis may sometimes be useful for making qual-
itative predictions (i.e. predicting the direction ... 3.3333333
recurring, it is difficult for basic calculators to store this number accurately in decimal form.
Although modern computers have a vast memory they still perform many...
Basic Mathematics for Economists - Rosser - Chapter 9 pptx
... 0% and 100%. Therefore c will
take a value between 0 and 1 and so the second-order condition for a maximum will be met.
© 1993, 2003 Mike Rosser
The second-order condition for a minimum is met ... inflexion
(asinFigure9.2(b))whenitsslopeiszerowehavetoconsiderwhatareknownasthesecond-
order conditions. (The first-order condition for any of the three forms of stationary point is
that the s...
Basic Mathematics for Economists - Rosser - Chapter 13 pptx
... 183.75 22.03 -3 .28
13 3 144.375 26.95 4.92
14 4 203.4375 19.57 -7 .38
15 5 114.84375 30.64 11.07
16 6 247.73438 14.03 -1 6.61
17 7 48.398438 38.95 24.92
18 8 347.40234 1.57 -3 7.38
19 9 -1 01.10352 ... 4.50
12 2 115 14.25 -2 .25
13 3 92.5 15.38 1.13
14 4 103.75 14.81 -0 .56
15 5 98.125 15.09 0.28
16 6 100.9375 14.95 -0 .14
17 7 99.53125 15.02 0.07
18 8 1...
Basic Mathematics for Economists - Rosser - Chapter 2 potx
... £1.
Solution
1p = £0.01
Therefore
0.01p = £0.0001
In mathematics a decimal format is often required for a value that is usually specified as a
percentage in everyday usage. For example, interest rates ... instead of actual numbers one cannot use calculators, and
operations on formulae have to be performed using the basic principles for operations
on fractions.
3. In some cases fracti...
Basic Mathematics for Economists - Rosser - Chapter 3 pps
... expression for the number of euros that can be bought for £x (any given quantity
of sterling), and
(ii) evaluate it for x = 250.
© 1993, 2003 Mike Rosser
the inflation rate. Adjusted for inflation, ... an expression for average monthly sales revenue for the first n months
and evaluate for n = 4.
(b) Write an expression for average monthly sales revenue over the preceding
3 mont...
Basic Mathematics for Economists - Rosser - Chapter 4 potx
... mathematical form of the relationship is not actually known then a function
may be written in what is called a general form. For example, a general form demand
© 1993, 2003 Mike Rosser
... 1993, 2003 Mike Rosser
has been entered only the calculated value appears in the cell where the formula is. However,
when you put the cursor on a cell containing a formula, the full formula should ......
Basic Mathematics for Economists - Rosser - Chapter 5 ppsx
... Rosser
(YoucancheckthesesolutionsarethesameasthoseinExample5.14whichhadthesame
supplyanddemandfunctions.)
Inamodelwithtwodependentvariables,likethissupplyanddemandmodel,oncethe
reducedformequationforonedependentvariablehasbeenderivedthenthereducedform
equationfortheotherdependentvariablecanbefound.Thisisdonebysubstitutingthe
reducedformforthefirstvariableintooneofthefunctionsthatmakeupthemod...
Basic Mathematics for Economists - Rosser - Chapter 6 pps
... 24.5 -6 82 35.5 -2 97
10 3 -3 7 14 -5 98 25 -6 75 36 -2 68
11 3.5 -7 3 14.5 -6 12 25.5 -6 67 36.5 -2 38
12 4 -1 08 15 -6 25 26 -6 58 37 -2 07
13 4.5 -1 42 15.5 -6 37 26.5 -6 48 37.5 -1 75
14 5 -1 75 16 -6 48 ... -6 48 27 -6 37 38 -1 42
15 5.5 -2 07 16.5 -6 58 27.5 -6 25 38.5 -1 08
16 6 -2 38 17 -6 67...
Basic Mathematics for Economists - Rosser - Chapter 7 pps
... 14.14% 12% 4725.54
13 13% 2464.06
14 14% 299.94
15 15% -1 772.14
16 16% -3 757.14
17 17% -5 659.71
18 18% -7 484.20
19 19% -9 234.68
20 20% -1 0914.99
Example 7.30
A firm has to choose between projects ... investment.
Example 7.39
What would you pay for an annuity that promises to pay £450 a year for the next 10 years
given an interest rate of 8%?
© 1993, 2003 Mike Rosse...
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