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Additional material for course E700 (CDSE) @ University of Mannheim (2019)

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E700 ― Mathematics for Economists (2019)

More Resources for the Befuddled

missing
Mandelbulb Fractal

“Real mathematics must be justified as art if it can be justified at all.”

​ ― G.H. Hardy, A Mathematician's Apology

In case of doubts: Why even math for Economics?

"The advancement and perfection of Mathematics are intimately connected with the prosperity of the State."

​ ― Napoleon Bonaparte

Resources & Tools


Part 0 ― Preliminaries

  1. The World of Mathematical Reality by Paul Lockhart, if you want a small taste of why math-people like math in itself - and maybe you should too!
  2. Understanding Mathematics, a study guide by Peter Alfeld, in case you feel lost.
  3. 3blue1brown, for exceptionally accessible videos on a wide range of topics.
  4. Understanding Mathematics, for more resources on the basics of understanding mathematics and its peculiarities.

Part 1 ― Foundations

Cores: sets, functions, relations, proofs and proof methods.

For a precise introductory treatment:

For a more intensive discussion:


As a side note, know that E700 covers a number of topics and concepts which cast a wide web of mathematical tools ― many of which we must posses to understand modern economic theory and practice in detail. Thus all of the following resources have some degree of "intersection": you will find topics from one part also presented in a source listed for another part.

Use whichever resource you consider best for your learning. This said, the material seen in class should always be the reference point.


Part 2 ― Spaces and Metrics

Cores: metric & normed spaces, convergence of sequences, continuity, compactness of sets.

These topics fall mostly under the umbrella of topology, and you can take a look at:

For a more general overview (YouTube):


Part 3 ― Vectors and Matrices

Cores: vectors, matrix algebra, linear transforms, eigenvalues.

Rigorous treatment of linear algebra (vectors, matrices and related things) can be found in:

However because linear algebra is not always intuitive, especially in high dimensions, these resources are more accessible:

Videos (YouTube):


Part 4 ― Differentiation and Optimization

Cores: multivariable differentiation, constrained/unconstrained optimization.

Regarding differentiation (this topic is also easily covered on Wikipedia, e.g.) take a look at:

While for optimization (in Economics we usually consider a pretty specific subset of optimization techniques) it is best to follow:

Lastly, MIT Professor Gilbert Strang recorded masterful lectures on calculus, and you can find them (and the accompanying book) on MIT OpenCourseware:


Foreword

Two topics that are not covered in E700 are measure theory and integration. By and large these are essential to understand most equations found in probability theory, statistics, macro and micro theory, and many more subfields. If you have a minimum of comfort with things like

then you should be fine.

However, good resources on these topics are:

Note that when you learn measure theory, you also learn Lebesgue–Stieltjes integration, which is the bedrock of modern probability theory - a skill you'll use forever!


Acknowledgements

Most links are taken from: https://github.com/rossant/awesome-math

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