Essential Mathematics for Economics and Business

Many students who embark on the study of economics and/or business are surprised and apprehensive to find that mathematics is a core subject on their course. Yet, to progress beyond a descriptive level in most subjects, an understanding and a certain fluency in basic mathematics is essential. In this text a minimal background in mathematics is assumed: the text starts in Chapter 1 with a review of basic mathematical operations such as multiplying brackets, manipulating fractions, percentages, use of the calculator, evaluating and transposing formulae, the concept of an equation and the solution of simple equations. Throughout the text worked examples demonstrate concepts and mathematical methods with a simple numerical example followed by further worked examples applied to real-world situations. The worked examples are also useful for practice. Start by reading the worked example to make sure you understand the method; then test yourself by attempting the example with a blank sheet of paper! You can always refer back to the detailed worked example if you get stuck. You should then be in a position to attempt the progress exercises. In this new edition, the worked examples in the text are complemented by an extensive question bank in WileyPLUS and MapleTA.