Mathematics has been an indispensable tool in economic analysis. Generally, most of the students are found to have what is called mathematics phobia. For them, studying mathematical methods is somewhat unpleasant and a taxing experience. Such an attitude, the authors feel (from their experience of teaching honours students), arises out of the students’ inability to derive maximum benefit from a book due to complex presentation of its text. Even in cases where presentation is simple, the lack of many solved examples minimizes the students’ efficiency to grasp the concepts. An ideal way out of this would be to explain various concepts with the help of solved examples. In specially designing this textbook, the authors have made a sincere effort to incorporate the above methodology by presenting a variety of problems, after explaining every concept. These problems elucidate the concepts and their applications. Throughout the book, emphasis is given on applications rather than pure mathematical techniques. The book aims at familiarizing the reader with some basic mathematical tools needed in economic analysis. Every concept in the book has been dealt with very patiently. The mathematics presented is easily accessible. However, this has not been done at the expense of rigour. The book contains more than 300 problems with solutions to give the reader sufficient practice and confidence.
The book has been divided into five parts. Part I contains the notion of sets, sequences, functions and analytical geometry with applications. Part II is concerned with differential calculus with one independent variable. Limits and continuity, meaning of derivatives and applications of derivatives are discussed here.
Part III deals with logarithmic and exponential functions. Part IV extends differentiation to multivariate functions. In this connection, partial derivatives, differentials and optimization – unconstrained as well as constrained – are explained. Part V covers matrices and their application to linear models, in addition to what is discussed in Part I. This volume is intended to serve as a useful reference book for honours courses in economics and masters courses in mathematical economics in the Indian universities.

Pawas Prabhakar is on the faculty of Economics, Shri Ram College of Commerce, University of Delhi. He completed his post-graduate economics from Delhi School of Economics, specialising in Game Theory and Industrial Economics. He has also been a guest lecturer at the Institute of Economic Growth, Delhi, on quantitative techniques in Economics.

Alka Budhiraja is a senior lecturer in the Department of Business Economics, Miranda House, University of Delhi. She is a post-graduate in Economics from Delhi School of Economics, with a specialization in Econometrics. She has teaching experience of fourteen years of which twelve years have been exclusively devoted to Mathematical Economics at the undergraduate level.

Pawas Prabhakar is on the faculty of Economics, Shri Ram College of Commerce, University of Delhi. He completed his post-graduate economics from Delhi School of Economics, specialising in Game Theory and Industrial Economics. He has also been a guest lecturer at the Institute of Economic Growth, Delhi, on quantitative techniques in Economics.

Alka Budhiraja is a senior lecturer in the Department of Business Economics, Miranda House, University of Delhi. She is a post-graduate in Economics from Delhi School of Economics, with a specialization in Econometrics. She has teaching experience of fourteen years of which twelve years have been exclusively devoted to Mathematical Economics at the undergraduate level.