An Introduction to Mathematical Analysis for Economic Theory and Econometrics

Princeton University Press
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Providing an introduction to mathematical analysis as it applies to economic theory and econometrics, this book bridges the gap that has separated the teaching of basic mathematics for economics and the increasingly advanced mathematics demanded in economics research today. Dean Corbae, Maxwell B. Stinchcombe, and Juraj Zeman equip students with the knowledge of real and functional analysis and measure theory they need to read and do research in economic and econometric theory.

Unlike other mathematics textbooks for economics, An Introduction to Mathematical Analysis for Economic Theory and Econometrics takes a unified approach to understanding basic and advanced spaces through the application of the Metric Completion Theorem. This is the concept by which, for example, the real numbers complete the rational numbers and measure spaces complete fields of measurable sets. Another of the book's unique features is its concentration on the mathematical foundations of econometrics. To illustrate difficult concepts, the authors use simple examples drawn from economic theory and econometrics.


Accessible and rigorous, the book is self-contained, providing proofs of theorems and assuming only an undergraduate background in calculus and linear algebra.


  • Begins with mathematical analysis and economic examples accessible to advanced undergraduates in order to build intuition for more complex analysis used by graduate students and researchers

  • Takes a unified approach to understanding basic and advanced spaces of numbers through application of the Metric Completion Theorem

  • Focuses on examples from econometrics to explain topics in measure theory

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About the author

Dean Corbae is the Rex A. and Dorothy B. Sebastian Centennial Professor in Business Administration at the University of Texas at Austin. Maxwell B. Stinchcombe is the E. C. McCarty Centennial Professor of Economics at the University of Texas at Austin. Juraj Zeman is researcher at the National Bank of Slovakia and lecturer in applied mathematics at Comenius University in Bratislava.
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Additional Information

Publisher
Princeton University Press
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Published on
Feb 17, 2009
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Pages
688
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ISBN
9781400833085
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Language
English
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Genres
Business & Economics / Business Mathematics
Business & Economics / Econometrics
Business & Economics / Economics / General
Mathematics / Calculus
Mathematics / Mathematical Analysis
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Content Protection
This content is DRM protected.
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Recently I taught short courses on functional equations at several universities (Barcelona, Bern, Graz, Hamburg, Milan, Waterloo). My aim was to introduce the most important equations and methods of solution through actual (not artifi cial) applications which were recent and with which I had something to do. Most of them happened to be related to the social or behavioral sciences. All were originally answers to questions posed by specialists in the respective applied fields. Here I give a somewhat extended version of these lectures, with more recent results and applications included. As previous knowledge just the basic facts of calculus and algebra are supposed. Parts where somewhat more (measure theory) is needed and sketches of lengthier calcula tions are set in fine print. I am grateful to Drs. J. Baker (Waterloo, Ont.), W. Forg-Rob (Innsbruck, Austria) and C. Wagner (Knoxville, Tenn.) for critical remarks and to Mrs. Brenda Law for care ful computer-typing of the manuscript (in several versions). A note on numbering of statements and references: The numbering of Lemmata, Propositions, Theorems, Corollaries and (separately) formulae starts anew in each section. If quoted in another section, the section number is added, e.g. (2.10) or Theorem 1.2. References are quoted by the last names of the authors and the last two digits of the year, e.g. Daroczy-Losonczi [671. 1 1. An aggregation theorem for allocation problems. Cauchy equation for single-and multiplace functions. Two extension theorems.
Contributions to Analysis: A Collection of Papers Dedicated to Lipman Bers is a compendium of papers provided by Bers, friends, students, colleagues, and professors. These papers deal with Teichmuller spaces, Kleinian groups, theta functions, algebraic geometry. Other papers discuss quasiconformal mappings, function theory, differential equations, and differential topology. One paper discusses the results of the rigidity theorem of Mostow and its generalization by Marden in relation to geometric properties of Kleinian groups of the first kind. These results, obtained by planar methods, are presented in terms of the hyperbolic 3-space language, which is a natural pedestal in approaching the action of the Kleinian groups. Another paper reviews Riemann's vanishing theorem which solves the Jacobi inversion problem, by relating the vanishing properties of the theta function (particularly at half periods) to properties of certain linear series on the Riemann surface. One paper examines the problem of obtaining relations among the periods of the differentials of first kind on a compact Riemann surface. An application of a computer program involves supersonic transport. The program is based on the hodograph transformation and a method of complex characteristics to calculate profiles that are shock-less at a specified angle of attack, or at a specified subsonic free-stream Mach number. The collection can prove useful for engineers, statisticians, students, and professors in advance mathematics or courses related to aeronautics.
These problems and solutions are offered to students of mathematics who have learned real analysis, measure theory, elementary topology and some theory of topological vector spaces. The current widely used texts in these subjects provide the background for the understanding of the problems and the finding of their solutions. In the bibliography the reader will find listed a number of books from which the necessary working vocabulary and techniques can be acquired. Thus it is assumed that terms such as topological space, u-ring, metric, measurable, homeomorphism, etc., and groups of symbols such as AnB, x EX, f: IR 3 X 1-+ X 2 - 1, etc., are familiar to the reader. They are used without introductory definition or explanation. Nevertheless, the index provides definitions of some terms and symbols that might prove puzzling. Most terms and symbols peculiar to the book are explained in the various introductory paragraphs titled Conventions. Occasionally definitions and symbols are introduced and explained within statements of problems or solutions. Although some solutions are complete, others are designed to be sketchy and thereby to give their readers an opportunity to exercise their skill and imagination. Numbers written in boldface inside square brackets refer to the bib liography. I should like to thank Professor P. R. Halmos for the opportunity to discuss with him a variety of technical, stylistic, and mathematical questions that arose in the writing of this book. Buffalo, NY B.R.G.
There are many mathematics textbooks on real analysis, but they focus on topics not readily helpful for studying economic theory or they are inaccessible to most graduate students of economics. Real Analysis with Economic Applications aims to fill this gap by providing an ideal textbook and reference on real analysis tailored specifically to the concerns of such students.

The emphasis throughout is on topics directly relevant to economic theory. In addition to addressing the usual topics of real analysis, this book discusses the elements of order theory, convex analysis, optimization, correspondences, linear and nonlinear functional analysis, fixed-point theory, dynamic programming, and calculus of variations. Efe Ok complements the mathematical development with applications that provide concise introductions to various topics from economic theory, including individual decision theory and games, welfare economics, information theory, general equilibrium and finance, and intertemporal economics. Moreover, apart from direct applications to economic theory, his book includes numerous fixed point theorems and applications to functional equations and optimization theory.


The book is rigorous, but accessible to those who are relatively new to the ways of real analysis. The formal exposition is accompanied by discussions that describe the basic ideas in relatively heuristic terms, and by more than 1,000 exercises of varying difficulty.


This book will be an indispensable resource in courses on mathematics for economists and as a reference for graduate students working on economic theory.

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