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Influence of Mathematics on Economics

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Influence of Math on Economics
In: Business and Management
Influence of Math on Economics
Influence of Math on Economics
Michelle Balmer, Marcie Holland, Beverly Segars,
Israel Figueroa, and Porshia Cross MTH 110
Rigoberto Martinez
March 17, 2012

The Influence of Math on Economics

The history of mathematics is an investigative study of the discoveries of mathematics methods and notations from the past. The study of mathematics began in the 6th century BC with the Pythagoreans who coined the ancient Greek term mathematics with the meaning subject of instruction. Before the spread of knowledge, mathematics was written expressions of the development of Babylonian, Egyptian, and Pythagorean Theorem, which demonstrate the basics of arithmetic and geometry. Arithmetic is one of the oldest forms of mathematics used by Antoine-Augustin Cournot and Joseph Louis Francois Bertrand for tasks of simple day-to-day counting to science and business activities. Arithmetic involves the study of quantity as it relates to addition, subtraction, multiplication, and division. Mathematicians refer to the more advanced term of number theory.
Antoine-Augustin Cournot and Joseph Louis Francois Bertrand’s influence on mathematics lay the foundation of the economic effect of the application method on economic theory and analysis of how it will affect others. Each allows individuals to form a meaningful understanding of the complex expressions in various languages. Cournot and Bertrand have used the importance of mathematics to optimize the maximum values of economic functions. The development of Hindu and Arabic numerals devise place value concept as it relates to business operations. In recent years, new research trends have developed that indicate the meaningful functions of other branches of

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