 Applications of Linear Algebra in EconomicsZrinka Lukač ()
Chapter 6 in Economic Analysis Through Mathematics, 2026, pp 153-162 from Springer Abstract: Abstract One of the common questions students ask when studying mathematics is: Why do I need this? Where can I apply this? The same is true for students of economics. This is why in this chapter we list some applications of linear algebra and its seemingly abstract concepts in economics. We have already explored some key applications to economics, like determining market equilibrium and input-output analysis. In this chapter we shortly review the important applications we have seen so far, as well as outline some more applications, demonstrating how the seemingly abstract concepts of vectors, matrices, and determinants provide concrete insights into real-world economic problems. We provide some applications of linear algebra to microeconomics and macroeconomics, linear programming, game theory, econometrics and regression analysis, as well as dynamic economic models. Keywords: Applications of linear algebra in economics; Linear programming; Game theory; Econometrics and regression analysis; Dynamic economic models (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-032-08812-3_6 Ordering information: This item can be ordered from DOI: 10.1007/978-3-032-08812-3_6 Access Statistics for this chapter More chapters in Springer Texts in Business and Economics from Springer |
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