Mathematical Economics: General Equilibrium Theory
- Miguel Virgen, PhD Student in Business
- Oct 26, 2024
- 4 min read
Updated: Mar 12
March 26 (Doctors In Business Journal) - Mathematical economics is a field that applies mathematical methods to represent economic theories and analyze economic problems. One of the most significant areas within mathematical economics is General Equilibrium Theory (GET), which seeks to understand how supply and demand interact across multiple markets simultaneously. This article will explore the foundations of General Equilibrium Theory, its mathematical formulation, key concepts, and implications.
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