THE ROLE OF MATHEMATICS IN A MARKET ECONOMY
Keywords:
mathematical economics, market equilibrium, demand and supply, equilibrium price, linear model, Walras equilibrium, cobweb model, price elasticity.Abstract
In this article, one of the main concepts of mathematical economics – the calculation of market equilibrium by analytical and algorithmic methods – is systematically described. Mathematical methods for finding the equilibrium price and equilibrium quantity are explained based on examples for linear and nonlinear forms of demand and supply functions. Static and dynamic equilibrium models are compared, and empirical calculations are carried out based on real market data. The proposed methodological approach has practical significance in economic analysis and policy development.
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Azerbaijan
Türkiye
Uzbekistan
Kazakhstan
Turkmenistan
Kyrgyzstan
Republic of Korea
Japan
India
United States of America
Kosovo