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Microeconomic Theory and Computation: Applying the Maxima Open-Source Computer Algebra System

✍ Scribed by Michael R. Hammock, J. Wilson Mixon (auth.)


Publisher
Springer-Verlag New York
Year
2013
Tongue
English
Leaves
393
Edition
1
Category
Library

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✦ Synopsis


Economists can use computer algebra systems to manipulate symbolic models, derive numerical computations, and analyze empirical relationships among variables. Maxima is an open-source multi-platform computer algebra system that rivals proprietary software. Maxima’s symbolic and computational capabilities enable economists and financial analysts to develop a deeper understanding of models by allowing them to explore the implications of differences in parameter values, providing numerical solutions to problems that would be otherwise intractable, and by providing graphical representations that can guide analysis. This book provides a step-by-step tutorial for using this program to examine the economic relationships that form the core of microeconomics in a way that complements traditional modeling techniques. Readers learn how to phrase the relevant analysis and how symbolic expressions, numerical computations, and graphical representations can be used to learn from microeconomic models. In particular, comparative statics analysis is facilitated. Little has been published on Maxima and its applications in economics and finance, and this volume will appeal to advanced undergraduates, graduate-level students studying microeconomics, academic researchers in economics and finance, economists, and financial analysts.

✦ Table of Contents


Front Matter....Pages i-xix
Introduction....Pages 1-35
Simple Economic Models....Pages 37-67
Demand Theory: Preferences....Pages 69-85
Demand Theory: Constraints and Optimization....Pages 87-117
Preferences and Demand....Pages 119-138
Production Theory....Pages 139-152
Cost Theory....Pages 153-167
Firm and Industry Supply in the Short-Run....Pages 169-183
Long-Run Supply....Pages 185-205
Competitive Markets: Extensions and Application....Pages 207-219
General Equilibrium....Pages 221-246
Price-Searcher Markets....Pages 247-280
Nonlinear Pricing: Capturing Consumer Surplus....Pages 281-301
Oligopoly....Pages 303-331
Time....Pages 333-361
Uncertainty....Pages 363-377
Erratum....Pages E1-E1
Back Matter....Pages 379-385

✦ Subjects


Microeconomics; Econometrics; Game Theory, Economics, Social and Behav. Sciences; Mathematical Software


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