Is real analysis needed for economics?

Real Analysis has become an indispensable tool in a number of application areas. In particular, many of its key concepts, such as convergence, compactness and convexity, have become central to economic theory.

What is taught in real analysis?

Real analysis is an area of analysis that studies concepts such as sequences and their limits, continuity, differentiation, integration and sequences of functions. By definition, real analysis focuses on the real numbers, often including positive and negative infinity to form the extended real line.

Can I learn real analysis on my own?

Besides the fact that it’s just plain harder, the way you learn real analysis is not by memorizing formulas or algorithms and plugging things in. Rather, you need to read and reread definitions and proofs until you understand the larger concepts at work, so you can apply those concepts in your own proofs.

What math do you need to take microeconomic theory?

Others are used to introduce methodologies. Students should be comfortable with multivariable calculus, linear algebra, and basic real analysis. This course is the first of a four-part sequence. The sequence continues with 14.122 Microeconomic Theory II .

What is real analysis in economics?

As you can see, real analysis is a somewhat theoretical field that is closely related to mathematical concepts used in most branches of economics such as calculus and probability theory. To be comfortable in a real analysis course, you should have a good background in calculus first.

What are the prerequisites for studying economics in college?

Students should be comfortable with multivariable calculus, linear algebra, and basic real analysis. This course is the first of a four-part sequence. The sequence continues with 14.122 Microeconomic Theory II . Alexander Wolitzky, and Alan Olivi. 14.121 Microeconomic Theory I. Fall 2015.

What is microeconomics and why study it?

Microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets. (Image by Jessica C. on Flickr. CC BY-NC.)