Linear Algebra for Economists

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This textbook introduces students of economics to the fundamental notions and instruments in linear algebra. Linearity is used as a first approximation to many problems that are studied in different branches of science, including economics and other social sciences. Linear algebra is also the most suitable to teach students what proofs are and how to prove a statement. The proofs that are given in the text are relatively easy to understand and also endow the student with different ways of thinking in making proofs. Theorems for which no proofs are given in the book are illustrated via figures and examples. All notions are illustrated appealing to geometric intuition. The book provides a variety of economic examples using linear algebraic tools. It mainly addresses students in economics who need to build up skills in understanding mathematical reasoning. Students in mathematics and informatics may also be interested in learning about the use of mathematics in economics.

Author(s): Fuad Aleskerov, Hasan Ersel, Dmitri Piontkovski (auth.)
Series: Springer Texts in Business and Economics
Edition: 1
Publisher: Springer-Verlag Berlin Heidelberg
Year: 2011

Language: English
Pages: 280
Tags: Game Theory/Mathematical Methods; Linear and Multilinear Algebras, Matrix Theory; Game Theory, Economics, Social and Behav. Sciences; Operation Research/Decision Theory; Economic Theory

Front Matter....Pages i-xii
Some Basic Concepts....Pages 1-15
Vectors and Matrices....Pages 17-47
Square Matrices and Determinants....Pages 49-63
Inverse Matrix....Pages 65-73
Systems of Linear Equations....Pages 75-90
Linear Spaces....Pages 91-106
Euclidean Spaces....Pages 107-122
Linear Transformations....Pages 123-140
Eigenvectors and Eigenvalues....Pages 141-163
Linear Model of Production in a Classical Setting....Pages 165-193
Linear Programming....Pages 195-216
Back Matter....Pages 217-279