Friday, March 11, 2011

Books to Read 4- Fundamental Methods of Mathematical Economics

The forth book which a prospective graduate student in economics is expected to have read is

Fundamental Methods of Mathematical Economics by A C Chiang
As mathematics is being increasingly used in economics it’s quite necessary for the students to be familiar with basic and advanced mathematical techniques in Linear Algebra, Calculus, Probability and other important mathematical areas.
This book serves the purpose very well. It’s better to be able to solve the problems at the end of the each chapter such that you know that you understand the concept. The books may take quite some time to finish but it’s worth spending time to understand the book completely.
With this book, readers can use another book
Schaum’s series of mathematical Economics
The beauty of Schaum series book is that it’s written very lucidly with several examples from economics which makes you understand the application of mathematical techniques in economics. In fact… if you don’t have enough time and you want to understand the necessary basic mathematical techniques for economics, probably this is the book.


  1. A friend of mine, at college, is studying this one.

    He told me is really good


  2. thank you chandan bhaiya. I wanted to ask you about a good follow up book to these ones.simon and bloom is something that we are referring to.would you recommend any other?

  3. Well.. Simon and Blume is indeed a very nice book. In fact... this book is also taught at graduate level.
    The book that I have been referring to so far are mainly undergraduate books and are meant for those who didn't have a background in economics.