Customer Reviews

Mathematical Economics

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Overall, this is a well-written book. It covers a variety of topics, from preference maximization through existence and stability of eq'ia, to optimal control and growth models.

However, I'm not sure what its niche is -- what this book provides that others don't, or that it covers more thoroughly. If you want math, read Simon and Blume or a math book. If you want micro theory, read Mas-Collel or Silberberg. If you want neoclassical macro theory, read Sargent. For optimal control, read Kamien/Schwarz or Seierstad/Sydsaeter. This book covers selected topics from each. Though it covers them well, much is left out.

Noticeably absent from the book is any uncertainty, randomness, or probability. There is also no game theory. These seek huge omissions for a book which seeks to show the usefulness of mathematical techniques in economic analysis.

Notation is also a bit unusual. I was a bit confused by some of the author's own notation for partial orderings and Cartesian products.

This is an excellent book for every economist who want to learn more than what is taught in classic courses. It is true that its lecture demands solid knoeledge of the topic, but the author gives full explanations and foundations after each teorem or development, and it has helped me to get the necessary mathematical skills for building models. If you are not sure of your math abilities, try first simon and blume ones, which is easier. I highly recommend it!

Economists can be divided into those who have read "Mathematical Economics" and those who are going to read it. I believe this book can furhter your knowledge as no other book can do. Usually it takes many months, or even years to be fully understood. I would advice undergraduate students to start with books like K. Lancaster 's "Mathematical Economics" or maybe Simon and Blume's book, to get the best out of Takayama's wisdom. The challenge of reading this book is something that no good economists can avoid.

Akira Takayama's MATHEMATICAL ECONOMICS is one of the finest texts in the important field of quantitative economics. It is a highly referenced text, and I recall it being quoted by a number of instructors in my days as a graduate student in economics. Takayama meticulously combines mathematical models and techniques with economic concepts and proficiently demonstrates the relationship and relevance of quantitative analysis to the study of human behavior known as economics. Each chapter is coherently organized in a systematic and a structured manner. The author starts with basic concepts and progresses to more advanced techniques carefully and methodically to maintain the structure.

Akira Takayama's text remains a work of treasure even though it was written more than twenty years ago. The information contained in this book is priceless and invaluable in the study of mathematical economics. The applications presented probably will never go into obsolescence even two decades from now. I would highly recommend this book to any graduate student in economics whose area of study requires the utilization of advanced quantitative techniques. For those who are less mathematically inclined, it can serve as a useful reference text.