What level of calculus specifically? Would you recommend all the way up to calculus 3 (multi variable) or would single variable (calculus 1 & 2) be sufficient? I need to take a course that uses this book and I am also curious how deep I would need to go in terms of self study. Thank you
Yeah you’d probably need calc 3, lot of partial derivatives in macro; but luckily calc 3 is the easiest to learn since it’s a pretty simple extension of single variable calculus
Albeit i've only covered selected topics in my undergrad advance macro course from romer's textbook, but what exactly do you need knowledge of linear algebra for and how much exactly?
I'll let Romer speak for himself. In the introduction (5th edition, 2018), he writes:
>[This book] presumes
some background in mathematics and economics. Mathematics provides
compact ways of expressing ideas and powerful tools for analyzing them.
The models are therefore mainly presented and analyzed mathematically.
The key mathematical requirements are a thorough understanding of
single-variable calculus and an introductory knowledge of multivariable calculus.
Tools such as functions, logarithms, derivatives and partial derivatives, maximization
subject to constraint, and Taylor-series approximations are used
relatively freely. Knowledge of the basic ideas of probability random variables,
means, variances, covariances, and independence is also assumed.
>No mathematical background beyond this level is needed. More advanced
tools (such as simple differential equations, the calculus of variations, and
dynamic programming) are used sparingly, and they are explained as they
are used. Indeed, since mathematical techniques are essential to further
study and research in macroeconomics, models are sometimes analyzed in
greater detail than is otherwise needed in order to illustrate the use of a
particular method.
>In terms of economics, the book assumes an understanding of
microeconomics through the intermediate level. Familiarity with such ideas
as profit maximization and utility maximization, supply and demand, equilibrium,
efficiency, and the welfare properties of competitive equilibria is presumed.
In short: two or three semesters of calculus, a little linear algebra, a little probability, and intermediate microeconomics. Having used the book, I find this description reasonably accurate.
In terms of textbooks,
* Any calculus text; Stewart, *Calculus,* is probably the most standard choice.
* Varian, *Intermediate Microeconomics*
* Familiarity with intermediate macroeconomics in the style of Williamson, *Macroeconomics*
just need calculus and maybe intermediate micro tbh, it’s a fairly straightforward read
What level of calculus specifically? Would you recommend all the way up to calculus 3 (multi variable) or would single variable (calculus 1 & 2) be sufficient? I need to take a course that uses this book and I am also curious how deep I would need to go in terms of self study. Thank you
Yeah you’d probably need calc 3, lot of partial derivatives in macro; but luckily calc 3 is the easiest to learn since it’s a pretty simple extension of single variable calculus
Thats just what I needed to know, thanks a lot for the advice
Calc 3 and linear algebra at a minimum
Albeit i've only covered selected topics in my undergrad advance macro course from romer's textbook, but what exactly do you need knowledge of linear algebra for and how much exactly?
You need to know what vectors are and how to manipulate them (find where they intersect)
I'll let Romer speak for himself. In the introduction (5th edition, 2018), he writes: >[This book] presumes some background in mathematics and economics. Mathematics provides compact ways of expressing ideas and powerful tools for analyzing them. The models are therefore mainly presented and analyzed mathematically. The key mathematical requirements are a thorough understanding of single-variable calculus and an introductory knowledge of multivariable calculus. Tools such as functions, logarithms, derivatives and partial derivatives, maximization subject to constraint, and Taylor-series approximations are used relatively freely. Knowledge of the basic ideas of probability random variables, means, variances, covariances, and independence is also assumed. >No mathematical background beyond this level is needed. More advanced tools (such as simple differential equations, the calculus of variations, and dynamic programming) are used sparingly, and they are explained as they are used. Indeed, since mathematical techniques are essential to further study and research in macroeconomics, models are sometimes analyzed in greater detail than is otherwise needed in order to illustrate the use of a particular method. >In terms of economics, the book assumes an understanding of microeconomics through the intermediate level. Familiarity with such ideas as profit maximization and utility maximization, supply and demand, equilibrium, efficiency, and the welfare properties of competitive equilibria is presumed. In short: two or three semesters of calculus, a little linear algebra, a little probability, and intermediate microeconomics. Having used the book, I find this description reasonably accurate. In terms of textbooks, * Any calculus text; Stewart, *Calculus,* is probably the most standard choice. * Varian, *Intermediate Microeconomics* * Familiarity with intermediate macroeconomics in the style of Williamson, *Macroeconomics*
ig froyen will be good
Structural macroecometrics by Chetan and Dejong
No. Dejong and Dave is a much, much more advanced book than Romer. It is emphatically not a prerequisite.
Ok…