Abstracto

History of Mathematical Economics

Komal Thind 

Mathematical economics is a theoretical and operational study whose goal is to describe economic objects, events, and occurrences quantitatively. The Keynesian and Marginal revolutions gave birth to modern economics. Basic methods and techniques in economic theory emerged as a result of these revolutions, allowing the use of differential and integral calculus to explain economic occurrences, consequences, and activities. In economics, the explanation of economic operations must account for the fact that economic agents' conduct may be influenced by the history of earlier economic developments. The majority of economic theories are given as economic models. The features of these models are examined in mathematical economics using formalizations of economic ideas and conceptions. Theorems on the presence of high values of particular variables are established in mathematical economics, and features of equilibrium situations and equilibrium development trajectories are explored, among other things.