21 equations that shaped the world economy: understanding the theory behind the equations
- Cham Palgrave Macmillan 2024
- xxiii, 285 p.
Table of contents: Front Matter Pages i-xxiii Download chapter PDF Compound Interest Rate Panayotis G. Michaelides Pages 1-13 The Normal Distribution Panayotis G. Michaelides Pages 15-27 Ordinary Least Squares Panayotis G. Michaelides Pages 29-44 Production Function and Total Factor Productivity Panayotis G. Michaelides Pages 45-57 The Profit Rate Panayotis G. Michaelides Pages 59-68 General Equilibrium Panayotis G. Michaelides Pages 69-88 Input-Output Analysis Panayotis G. Michaelides Pages 89-102 Break-Even Point Panayotis G. Michaelides Pages 103-112 The Fisher Equation Panayotis G. Michaelides Pages 113-120 Net Present Value Panayotis G. Michaelides Pages 121-130 The Income Accounting Equation Panayotis G. Michaelides Pages 131-139 The Nash Equilibrium Panayotis G. Michaelides Pages 141-152 Capital Asset Pricing Model Panayotis G. Michaelides Pages 153-160 Quantity Theory of Money Panayotis G. Michaelides Pages 161-170 The Cost Function Panayotis G. Michaelides Pages 171-184 The Solow Growth Model Panayotis G. Michaelides Pages 185-197 The Phillips Curve Panayotis G. Michaelides Pages 199-207 The Gravity Equation Panayotis G. Michaelides Pages 209-218 The Granger Causality Equation Panayotis G. Michaelides Pages 219-227
This accessible and engaging textbook provides an introduction to the equations that have defined economics and shaped the global economy. It not only presents the ideas, concepts, and applications that underpin these equations, but also places them within their broader social and historical contexts. Simple mathematical examples and illustrations of the real-world application of the equations are combined with an overview of the implications to give a complete understanding of the power and importance of each equation.
It will be relevant to economics students wishing to broaden their understanding of mathematics, mathematical economics, applied economics, and the history of economic thought.