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Mathematics for pursuing Economics

Do I need to be GREAT in Mathematics to pursue Economics ?



Economics as a domain includes different subjects like Microeconomics, Macroeconomics, Mathematics, Statistics, Econometrics etc. and economics is a global phenomena. However, Mathematics is one subject about which everyone is most concerned and many students tend to have fear of Mathematics. At the same time, many are concerned as to how much mathematics would be required while pursuing Economics.


Microeconomics

Talking about Mathematics which deals with numbers and involves calculations and is also categorized into many different categories based on difficulty. Now, the extend of Mathematics in Economics is not limited and you can find it in most of the topics or subjects. Example : Microeconomics which is the branch of economics that deals with consumers' and producers' behaviors. Here, topics like Algebra and Linear equations are important elements of mathematics that makes the whole of quantitative microeconomics. These two are Algebra and linear equations are used to solve problems like marginal utility, market equilibrium, production and costs, etc.



Macroeconomics

Example : Macroeconomics involves large-scale factors such as calculation of national income, GDP, financial economics, etc. Alos, it is the most practical part of economics as all the economic policies, economic issues, and business economics are part of macroeconomics only. Here macroeconomics uses formulas of linear and quadratic equations to solve the problems of computing net/gross domestic product of a nation.


Overall, the level of Mathematics keeps on increasing with every semester, or with every level namely.

Bachelor in Economics

Masters in Economics

Ph.D. in Economics


However, you need not be exceptional or great in Mathematics to pursue Economics. You need to at least "Cover Class 11 & 12 syllabus through NCERT or any other book".


This is bare minimum for you to complete and have strong basics. The bigger picture is that Mathematics is an integral part of part of Economics and can't be ignored.

We have also prepared a small video lecture on the same for everyone's reference as well.



YouTube Channel ArthaPoint


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We hope this blog was helpful.



Hope this helps, till next time happy learning.



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