Mathematics For Economics And Business Ian Jacques Eighth Edition Pdf

Book Name : Mathematics for Economics and Business (8th Edition

Stock Number : 3739

ISBN : 129207423X

Year : 2015

Writers : Ian Jacques
Pages : 672

Language : English

Type : PDF

Date : 15 March, 2017

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Were you looking for the book with access to MyMathLab Global? This product is the book alone and does NOT come with access to MyMathLab Global. Buy Mathematics for Economics and Business, 8th edition with MyMathLab Global access card (ISBN 9781292074337) if you need access to MyMathLab Global as well, and save money on this resource. You will also need a course ID from your instructor to access MyMathLab Global. If you want to increase your confidence in mathematics then look no further! Assuming little prior knowledge, this market-leading text is a great companion for those who have not studied mathematics in depth before. Breaking topics down into short sections makes each new technique you learn seem less daunting.

This book promotes self-paced learning and study, as students are encouraged to stop and check their understanding along the way by working through practice problems. FEATURES * Many worked examples and business related problems. * Core exercises now have additional questions, with more challenging problems in starred exercises which allow for more effective exam preparation. * Answers to every question are given in the back of the book, encouraging students to assess their own progress and understanding. * Wide-ranging topic coverage suitable for all students studying for an Economics or Business degree.

INTRODUCTION: Getting Started 1

Notes for students: how to use this book 1

CHAPTER 1 Linear Equations 5

1.1 Introduction to algebra 6

1.1.1 Negative numbers 7

1.1.2 Expressions 9

1.1.3 Brackets 12

Key Terms 17

Exercise 1.1 18

Exercise 1.1* 20

1.2 Further algebra 22

1.2.1 Fractions 22

1.2.2 Equations 29

1.2.3 Inequalities 33

Key Terms 36

Exercise 1.2 36

Exercise 1.2* 38

1.3 Graphs of linear equations 40

Key Terms 51

Exercise 1.3 52

Exercise 1.3* 53

1.4 Algebraic solution of simultaneous linear equations 55

Key Term 65

Exercise 1.4 65

Exercise 1.4* 66

1.5 Supply and demand analysis 67

Key Terms 80

Exercise 1.5 80

Exercise 1.5* 82

1.6 Transposition of formulae 84

Key Terms 91

Exercise 1.6 91

Exercise 1.6* 92

1.7 National income determination 93

Key Terms 105

Exercise 1.7 105

Exercise 1.7* 106

Formal mathematics 109

CONTENTS vii

CHAPTER 2 Non-linear Equations 113

2.1 Quadratic functions 114

Key Terms 128

Exercise 2.1 129

Exercise 2.1* 130

2.2 Revenue, cost and profit 132

Key Terms 140

Exercise 2.2 140

Exercise 2.2* 142

2.3 Indices and logarithms 143

2.3.1 Index notation 143

2.3.2 Rules of indices 147

2.3.3 Logarithms 153

2.3.4 Summary 159

Key Terms 160

Exercise 2.3 160

Exercise 2.3* 162

2.4 The exponential and natural logarithm functions 164

Key Terms 174

Exercise 2.4 174

Exercise 2.4* 175

Formal mathematics 178

CHAPTER 3 Mathematics of Finance 1 83

3.1 Percentages 184

3.1.1 Index numbers 190

3.1.2 Inflation 194

Key Terms 196

Exercise 3.1 196

Exercise 3.1* 199

3.2 Compound interest 202

Key Terms 212

Exercise 3.2 212

Exercise 3.2* 214

3.3 Geometric series 216

Key Terms 224

Exercise 3.3 224

Exercise 3.3* 225

3.4 Investment appraisal 227

Key Terms 239

Exercise 3.4 239

Exercise 3.4* 241

Formal mathematics 243

CHAPTER 4 Differentiation 247

4.1 The derivative of a function 248

Key Terms 257

Exercise 4.1 257

Exercise 4.1* 258

4.2 Rules of differentiation 259

Rule 1 The constant rule 259

Rule 2 The sum rule 260

Rule 3 The difference rule 261

Key Terms 266

Exercise 4.2 266

Exercise 4.2* 268

4.3 Marginal functions 270

4.3.1 Revenue and cost 270

4.3.2 Production 277

4.3.3 Consumption and savings 279

Key Terms 281

Exercise 4.3 281

Exercise 4.3* 282

4.4 Further rules of differentiation 284

Rule 4 The chain rule 285

Rule 5 The product rule 287

Rule 6 The quotient rule 290

Exercise 4.4 292

Exercise 4.4* 293

4.5 Elasticity 294

Key Terms 306

Exercise 4.5 306

Exercise 4.5* 307

4.6 Optimisation of economic functions 309

Key Terms 325

Exercise 4.6 325

Exercise 4.6* 327

4.7 Further optimisation of economic functions 328

Key Terms 339

Exercise 4.7* 339

4.8 The derivative of the exponential and natural logarithm functions 341

Exercise 4.8 350

Exercise 4.8* 351

Formal mathematics 353

CHAPTER 5 Partial Differentiation 357

5.1 Functions of several variables 358

Key Terms 368

Exercise 5.1 369

Exercise 5.1* 370

5.2 Partial elasticity and marginal functions 372

5.2.1 Elasticity of demand 372

5.2.2 Utility 375

5.2.3 Production 381

Key Terms 383

Exercise 5.2 384

Exercise 5.2* 386

5.3 Comparative statics 388

Key Terms 397

Exercise 5.3* 397

CONTENTS ix

5.4 Unconstrained optimisation 401

Key Terms 412

Exercise 5.4 412

Exercise 5.4* 413

5.5 Constrained optimisation 415

Key Terms 424

Exercise 5.5 425

Exercise 5.5* 426

5.6 Lagrange multipliers 428

Key Terms 436

Exercise 5.6 437

Exercise 5.6* 438

Formal mathematics 440

CHAPTER 6 Integration 443

6.1 Indefinite integration 444

Key Terms 453

Exercise 6.1 454

Exercise 6.1* 455

6.2 Definite integration 457

6.2.1 Consumer's surplus 461

6.2.2 Producer's surplus 462

6.2.3 Investment flow 464

6.2.4 Discounting 466

Key Terms 467

Exercise 6.2 467

Exercise 6.2* 468

Formal mathematics 470

CHAPTER 7 Matrices 473

7.1 Basic matrix operations 474

7.1.1 Transposition 476

7.1.2 Addition and subtraction 477

7.1.3 Scalar multiplication 480

7.1.4 Matrix multiplication 481

7.1.5 Summary 489

Key Terms 489

Exercise 7.1 490

Exercise 7.1* 492

7.2 Matrix inversion 495

Key Terms 510

Exercise 7.2 510

Exercise 7.2* 512

7.3 Cramer's rule 514

Key Term 522

Exercise 7.3 522

Exercise 7.3* 523

Formal mathematics 526

CHAPTER 8 Linear Programming 529

8.1 Graphical solution of linear programming problems 530

Key Terms 544

Exercise 8.1 545

Exercise 8.1* 546

8.2 Applications of linear programming 548

Key Terms 556

Exercise 8.2 556

Exercise 8.2* 558

Formal mathematics 561

CHAPTER 9 Dynamics 563

9.1 Difference equations 564

9.1.1 National income determination 570

9.1.2 Supply and demand analysis 572

Key Terms 575

Exercise 9.1 575

Exercise 9.1* 576

9.2 Differential equations 579

9.2.1 National income determination 585

9.2.2 Supply and demand analysis 587

Key Terms 589

Exercise 9.2 590

Exercise 9.2* 591

Formal mathematics 594

Answers to Problems 595

Chapter 1 595

Chapter 2 603

Chapter 3 611

Chapter 4 615

Chapter 5 624

Chapter 6 631

Chapter 7 632

Chapter 8 638

Chapter 9 641

Glossary 645

Index 652