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Maths in Economics

Would appreciate if anyone could give me some interesting uses of maths in Economics as I wish to research it for use in my personal statement.

Every book I have looked at has nothing more interesting than integration and differentiation.

Thanks:smile:
Original post by econam
Would appreciate if anyone could give me some interesting uses of maths in Economics as I wish to research it for use in my personal statement.

Every book I have looked at has nothing more interesting than integration and differentiation.

Thanks:smile:


Hi,
Some interesting applications of maths in economics include:
Game theory (basic maths but if you want to mention maths in econ, then it's the easiest thing to include)
Elasticities (manipulation of the elasticity formulae)
Budgeting and Utility (budget constraints and utility maximisation)
Marshall Lerner condition (how to derive it)

These are things that won't be too difficult to learn ( I assume you're at the end of year 12 - the topics above will be difficult to think about anyway, let alone harder stuff).

Note that most of these are based on calculus anyway - but calculus is pretty advanced anyway so there is certainly no need to go too advanced with maths in economics (there's barely any maths in the a level econ anyway - unis won't be expecting much).

What calculus have you already looked at? And what unis are you thinking of applying to?
Reply 2
Original post by stardude8
Hi,
Some interesting applications of maths in economics include:
Game theory (basic maths but if you want to mention maths in econ, then it's the easiest thing to include)
Elasticities (manipulation of the elasticity formulae)
Budgeting and Utility (budget constraints and utility maximisation)
Marshall Lerner condition (how to derive it)

These are things that won't be too difficult to learn ( I assume you're at the end of year 12 - the topics above will be difficult to think about anyway, let alone harder stuff).

Note that most of these are based on calculus anyway - but calculus is pretty advanced anyway so there is certainly no need to go too advanced with maths in economics (there's barely any maths in the a level econ anyway - unis won't be expecting much).

What calculus have you already looked at? And what unis are you thinking of applying to?


Thanks for that:smile: I'll take a look at some of those.

When you say what calculus have I looked at - do you mean in school? If so, all that covered by maths and f maths AS level.

If all goes according to plan I hope to apply to camb, lse, warwick

I picked up a book today called happiness quantified which has a pretty interesting section on deriving an equation for tax rates.

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Original post by econam
Thanks for that:smile: I'll take a look at some of those.

When you say what calculus have I looked at - do you mean in school? If so, all that covered by maths and f maths AS level.

If all goes according to plan I hope to apply to camb, lse, warwick

I picked up a book today called happiness quantified which has a pretty interesting section on deriving an equation for tax rates.

Posted from TSR Mobile


Sorry I was too vague - I meant what calculus had you come across in economics(lessons and outside)?

Awesome - I applied to Cam and Warwick last year - good choices :wink:

As long as the book isn't too complicated, that sounds great :smile:
(edited 8 years ago)
Reply 4
Original post by stardude8
Sorry I was too vague - I meant what calculus had you come across in economics(lessons and outside)?

Awesome - I applied to Cam and Warwick last year - good choices :wink:

As long as the book isn't too complicated, that sounds great :smile:


Absolutely nothing in lessons aha - only maths I've seen is percentage change:biggrin:

Outside of lessons I've seen different uses of integration and differentiation and that is about all.

I assume this is for econ? If so, how did you get on?

Posted from TSR Mobile

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