Mathematics for Economics and Finance

ISBN-13: 9780415573047 / Angielski / Miękka / 2011 / 520 str.

Michael Harrison; Patrick Waldron

Opis

The aim of this book is to bring students of economics and finance who have only an introductory background in mathematics up to a quite advanced level in the subject, thus preparing them for the core mathematical demands of econometrics, economic theory, quantitative finance and mathematical economics, which they are likely to encounter in their final-year courses and beyond. The level of the book will also be useful for those embarking on the first year of their graduate studies in Business, Economics or Finance. The book also serves as an introduction to quantitative economics and finance for mathematics students at undergraduate level and above. In recent years, mathematics graduates have been increasingly expected to have skills in practical subjects such as economics and finance, just as economics graduates have been expected to have an increasingly strong grounding in mathematics. The authors avoid the pitfalls of many texts that become too theoretical. The use of mathematical methods in the real world is never lost sight of and quantitative analysis is brought to bear on a variety of topics including foreign exchange rates and other macro level issues.

Spis treści

Part 1: Mathematics  Introduction  1. Systems of Linear Equations and Matrices  2. Determinants  3. Elgenvalues and Elgenvectors  4. Conic Sections, Quadratic Forms and Definite Matrices  5. Vectors and Vector Spaces  6. Linear Transformations  7. Foundations for Vector Calculus  8. Difference Equations  9. Vector Calculus  10. Convexity and Optimization  Part 2: Applications  11. Macroeconomic Applications  12. Single-Period Choice Under Certainty  13. Probability Theory  14. Quadratic Programming and Econometric Applications  15. Multi-Period Choice Under Certainty  16. Single-Period Choice Under Uncertainty  17. Portfolio Theory.  Bibliography.  Index