Mathematical economics is the sub-field of economics that explores the mathematical aspects of economic systems.

Modern mainstream economic research typically makes extensive use of formal mathematics and mathematical modelling. As a result, the distinction between mathematical and non-mathematical economics is much less clear today than it once was. The mathematical tools economists use today are often applied in other sciences and applied mathematics as well.

Mathematical economics can be regarded as the "theoretical" counterpart of econometrics, which attempts to analyse the real world of economic activity using statistical techniques.

Paul Samuelson is widely considered the father of mathematical economics, particularly through is book Foundations of Economic Analysis (1947).

Issues within mathematical economics

• Arbitrage
• Black-Scholes equation
• Game theory
• Growth theory
• Information theory
• Wealth condensation

Mathematical economists

Famous mathematical economists include, but are not limited to the following list.

• Amartya Sen
• Herbert A. Simon
• Sir James Mirrlees
• John Nash
• Kenneth Arrow
• Gerard Debreu

See also

• Econometrics
• Mathematical finance
• Mathematics of random variables
• Pareto distribution
• Probability theory
• Zipf's law
• Extreme value theory
• Fractal
• Systems theory
• Self-organization
• Self-similarity
• Randomness

Bibliography

• Alpha C. Chiang and Kevin Wainwright, Fundamental Methods of Mathematical Economics (McGraw-Hill Irwin, 4th edition, 2005) ISBN 0070109109

External links

• Keyword list from Journal of Mathematical Economics
• Open Directory Project: Mathematical Economics and Financial Mathematics
• Wealth Condensation in Pareto Macro-Economies

Applied mathematics | Mathematical economics | Mathematical and quantitative methods (economics)

Wirtschaftsmathematik | Μαθηματική Οικονομική | Vikipedio:Projekto matematiko/Matematika ekonomio | Matematikai közgazdaságtan | Ekonomia matematyczna | Математическая экономика | 数理经济学