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I plan to self-study, at an undergraduate level, Mathematical Economics.

There's 3 main topics to cover

  • Introduction to economy science

  • Microeconomy

  • Macroeconomy

(each of these have lots of sub-topics)

And the recommended books are

  1. Microeconomic Theory: Basic Principles and Extensions: Walter Nicholson, Christopher Snyder

  2. Fundamental Methods of Mathematical Economics - Chiang & Wainwright

  3. Macroeconomics in the Global Economy: Jeffrey D. Sachs, Felipe Larrain

  4. Intermediate Microeconomics: A Modern Approach: Hal R. Varian

My question is,

What's the overview of these books for an undergraduate course?

Are they good for self-study? If not, could you recommend books to cover the mentioned topics for self-study?

I would also like to ask, what is Mathematical Economics course like? One of my statistics professor once said that is not a difficult course but there are like tons of concepts that one needs to memorize and there remains its complexity.

Thanks in advance for your help

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All four of those books are widely used at the undergraduate level. I would say they are written with the intention to be text-books of a class, so they should be good for self-study. I would recommend you to read 1 and 2 before reading 3 and 4.

  1. Will give you a basic overview of the way we think in economics, clarify some basic concepts and explain work-horse models in the discipline like supply and demand, which can be used in a lot more domains than expected. There are several similar books that are also very good, a common one is Mankiw's book "Principles of Economics".

  2. In economics, we use a lot of math, but we use disproportionally certain areas of math more than others. A course in Mathematical Economics will focus on these tools we use. For example, it will focus a lot on optimization, linear algebra, calculus, analysis, differential eequations, etc. Optimization and "comparative statics" is probably the most important thing in economics, so a possible approach would be for you to learn up to there from Chiang, and then go to the other books and come back to Chiang if and whenever you need it. There are a lot of good similar books as well, for example, "Mathematics for Economists" by Simon and Blume.

  3. I am not very familiar with this book, but there are tons of good textbooks in Macro. It will probably not be very math-intensive actually, so you will not need all of the tools learned in Chiang to read this one. A good substitute for this one would be Barro's "Macroeconomics"

  4. This is a classic textbook for intermediate Micro. Almost everyone I know learned from it, and it is definitely advanced for an undergrad level, but as friendly as possible. It is hard to find a good substitute for this one.

If you have access to a library and find a topic hard to understand, I would look at how other authors approach it. This community will also be a useful resource if you use it properly.

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  • $\begingroup$ Thank you for your answer. $\endgroup$ – Bellatrix Mar 4 at 20:41

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