Ministry of Education and Science of Ukraine

S. Kuznets Kharkiv National University of Economics 

 
Presentation in Maths:Mathematical expressions and Economics
variables and functions (TR).
 
 
 
 
Checked by: Lecturer of the department of Higher Mathematics
Eugenia Misiura.

Written by: First year student

6.46.073.040.18.3
Iwueke Cynthia.
  
 
Kharkiv 2018
 MATHEMATICAL EXPRESSIONS
• MATHEMATICS IS MADE UP OF SYMBOLS THAT CAN BE
COMBINED TO MAKE STATEMENTS ABOUT THE WORLD AROUND
US. SOMETIMES THOSE SYMBOLS REPRESENT NUMBERS AND
SOMETIMES THEY ARE MORE ABSTRACT, REPRESENTING
SPACES, SYMMETRIES OR • .
GROUPS. MATHEMATICAL
EXPRESSIONS ARE FORMED WHEN THESE SYMBOLS ARE
COMBINED WITH MATHEMATICAL OPERATIONS SUCH AS
ADDITION, SUBTRACTION, OR MULTIPLICATION TO NAME JUST
A FEW.
 EXAMPLES OF MATHEMATICAL
EXPRESSIONS
• 1. ARITHMETIC OPERATIONS
THE MOST BASIC KIND OF MATHEMATICAL
EXPRESSION ARE ARITHMETIC OPERATIONS.
ARITHMETIC OPERATIONS CONSIST OF ANY
COMBINATION OF NUMBERS WITH A
MATHEMATICAL OPERATION, SUCH AS
MULTIPLICATION, ADDITION, SUBTRACTION OR
DIVISION. FOR EXAMPLE, 9 + 14/2 - 6*(5 + 3) IS
AN ARITHMETIC OPERATION EQUAL TO -32.
• 2. FUNCTIONS
• FUNCTIONS CONSIST OF NUMBERS, VARIABLES AND
MATHEMATICAL OPERATIONS, AND ARE OFTEN USED IN
PHYSICS, BIOLOGY AND ECONOMICS TO DESIGN
MODELS THAT APPROXIMATE OBSERVATIONS ABOUT
THE WORLD. FOR EXAMPLE, 2X + 7 = 13 IS A FUNCTION
AND THE VALUE OF X IN THIS CASE IS 3.
 EXAMPLES OF MATHEMATICAL EXPRESSIONS
• 3. SUMMATIONS
• SUMMATIONS ADD TOGETHER ALL THE
ELEMENTS OF A PARTICULAR SET AND
ARE REPRESENTED BY THE Σ SYMBOL, OR
SIGMA. FOR EXAMPLE, IF A = {1, 2, 3, 4],
Σ(A) = 1+2+3+4, WHICH IS EQUAL TO 10.
• 4. DERIVATIVES
• THE DERIVATIVE IS A WAY TO SHOW RATE
OF CHANGE: THAT IS, THE AMOUNT BY
WHICH A FUNCTION IS CHANGING AT ONE
GIVEN POINT. THE DERIVATIVE IS OFTEN
WRITTEN USING "DY OVER DX" (MEANING
THE DIFFERENCE IN Y DIVIDED BY THE
DIFFERENCE IN X).
 EXAMPLES OF MATHEMATICAL EXPRESSIONS

• 5. INTEGRATION
• 6. VARIABLE
• INTEGRALS ASSIGNS NUMBERS TO FUNCTIONS
• A SYMBOL FOR A NUMBER WE DON'T KNOW
IN A WAY THAT CAN DESCRIBE DISPLACEMENT,
YET. IT IS USUALLY A LETTER LIKE X OR Y.
AREA, VOLUME, AND OTHER CONCEPTS THAT
EXAMPLE: IN X + 2 = 6, X IS THE VARIABLE.
ARISE BY COMBINING INFINITESIMAL DATA. E.G
 EXAMPLES OF MATHEMATICAL EXPRESSIONS
• 7. SYNTAX
• AN EXPRESSION IS A SYNTACTIC CONSTRUCT, IT
MUST BE WELL-FORMED: THE ALLOWED
OPERATORS MUST HAVE THE CORRECT
NUMBER OF INPUTS IN THE CORRECT PLACES,
THE CHARACTERS THAT MAKE UP THESE
INPUTS MUST BE VALID, HAVE A CLEAR ORDER
OF OPERATIONS, ETC.
• 8. CONSTANTS
• A FIXED VALUE. IN ALGEBRA, A CONSTANT IS A
NUMBER ON ITS OWN, OR SOMETIMES A
LETTER SUCH AS A, B OR C TO STAND FOR A
FIXED NUMBER. EXAMPLE: IN "X + 5 = 9", 5
AND 9 ARE CONSTANTS.
 EXAMPLES OF MATHEMATICAL EXPRESSIONS

• 10. FACTORIALS
• 9.SIMULTANEOUS EQUATIONS
• FACTORIALS ARE VERY SIMPLE THINGS.
• ON OCCASIONS YOU WILL COME ACROSS TWO
THEY'RE JUST PRODUCTS, INDICATED BY AN
OR MORE UNKNOWN QUANTITIES, AND TWO
EXCLAMATION MARK. FOR INSTANCE, "FOUR
OR MORE EQUATIONS RELATING THEM. THESE
FACTORIAL" IS WRITTEN AS "4!" AND MEANS
ARE CALLED SIMULTANEOUS EQUATIONS AND
1×2×3×4 = 24. IN GENERAL, N! ("ENN
WHEN ASKED TO SOLVE THEM YOU MUST FIND
FACTORIAL") MEANS THE PRODUCT OF ALL THE
VALUES OF THE UNKNOWNS WHICH SATISFY
WHOLE NUMBERS FROM 1 TO N; THAT IS, N! =
ALL THE GIVEN EQUATIONS AT THE SAME TIME.
1×2×3×...×N.(FOR VARIOUS REASONS, 0! IS
EXAMPLE SOLVE THE SIMULTANEOUS
DEFINED TO BE EQUAL TO 1, NOT 0.
EQUATIONS 3X + 2Y = 36 (1) . 5X+4Y = 64 (2)
MEMORIZE THIS NOW: 0! = 1.)
 EXAMPLES OF MATHEMATICAL EXPRESSIONS

• 11. ALGEBRA
• AN ALGEBRAIC EXPRESSION IS AN EXPRESSION
BUILT UP FROM INTEGER CONSTANTS, • 12. COEFFICIENT
VARIABLES, AND THE ALGEBRAIC OPERATIONS
• A NUMERICAL OR CONSTANT QUANTITY
(ADDITION, SUBTRACTION, MULTIPLICATION,
PLACED BEFORE AND MULTIPLYING THE
DIVISION AND EXPONENTIATION BY AN
VARIABLE IN AN ALGEBRAIC EXPRESSION (E.G.
EXPONENT THAT IS A RATIONAL NUMBER).[1]
4 IN 4X Y).
FOR EXAMPLE, 3X2 − 2XY + C IS AN ALGEBRAIC
EXPRESSION. SINCE TAKING THE SQUARE ROOT
IS THE SAME AS RAISING TO THE POWER
 EXAMPLES OF MATHEMATICAL EXPRESSIONS
• 13. COMPLEX FUNCTION
• PRACTICAL APPLICATIONS OF FUNCTIONS WHOSE
VARIABLES ARE COMPLEX NUMBERS ARE NOT SO EASY
TO ILLUSTRATE, BUT THEY ARE NEVERTHELESS VERY
EXTENSIVE. THEY OCCUR, FOR EXAMPLE, IN
ELECTRICAL ENGINEERING AND AERODYNAMICS. IF
THE COMPLEX VARIABLE IS REPRESENTED IN THE
FORM Z = X + IY, WHERE I IS THE IMAGINARY UNIT (THE
SQUARE ROOT OF −1) AND X AND Y ARE REAL
VARIABLES (SEE FIGURE), IT IS POSSIBLE TO SPLIT THE
COMPLEX FUNCTION INTO REAL AND IMAGINARY
PARTS: F(Z) = P(X, Y) + IQ(X, Y).
• 14. QUADRATIC
• A QUADRATIC EQUATION IS AN EQUATION OF
THE SECOND DEGREE, MEANING IT CONTAINS
AT LEAST ONE TERM THAT IS SQUARED. THE
STANDARD FORM IS AX² + BX + C = 0 WITH A, B,
AND C BEING CONSTANTS, OR NUMERICAL
COEFFICIENTS, AND X IS AN UNKNOWN
VARIABLE. ONE ABSOLUTE RULE IS THAT THE
FIRST CONSTANT "A" CANNOT BE A ZERO.
 EXAMPLES OF MATHEMATICAL EXPRESSIONS

• 16. MATRIX
• 15. EXPONENTS
• IN MATHEMATICS, A MATRIX (PLURAL:
• AN EXPONENT IS A NUMBER THAT TELLS HOW
MATRICES) IS A RECTANGULAR ARRAY[1] OF
MANY TIMES THE BASE NUMBER IS USED AS A
NUMBERS, SYMBOLS, OR EXPRESSIONS,
FACTOR. FOR EXAMPLE, 32 INDICATES THAT THE
ARRANGED IN ROWS AND COLUMNS.[2][3]
BASE NUMBER 3 IS USED AS A FACTOR 2
FOR EXAMPLE, THE DIMENSIONS OF THE
TIMES. TO DETERMINE THE VALUE OF 32,
MATRIX BELOW ARE 2 × 3 (READ "TWO BY
MULTIPLY 3*3 WHICH WOULD GIVE THE
THREE"), BECAUSE THERE ARE TWO ROWS AND
RESULT 9.
THREE COLUMNS:
 EXAMPLES OF MATHEMATICAL EXPRESSIONS

• 18. GEOMETRIC SERIES

• 17.LIMITS
• AN ARITHMETICO -GEOMETRIC SERIES IS A
• LIMIT IS THE VALUE THAT A FUNCTION (OR GENERALIZATION OF THE GEOMETRIC SERIES,
SEQUENCE) "APPROACHES" AS THE INPUT (OR WHICH HAS COEFFICIENTS OF THE COMMON
INDEX) "APPROACHES" SOME VALUE. RATIO EQUAL TO THE TERMS IN AN
ARITHMETIC SEQUENCE.
 EXAMPLES OF MATHEMATICAL EXPRESSIONS

• 19. POLYNOMIALS
• POLYNOMIAL IS AN EXPRESSION CONSISTING
OF VARIABLES (ALSO CALLED
INDETERMINATES) AND COEFFICIENTS, THAT
INVOLVES ONLY THE OPERATIONS OF
ADDITION, SUBTRACTION, MULTIPLICATION,
AND NON-NEGATIVE INTEGER EXPONENTS OF
VARIABLES. AN EXAMPLE OF A POLYNOMIAL
OF A SINGLE INDETERMINATE, X, IS X2-4X+7
• 20. DEFINITE INTEGRALS
• A DEFINITE INTEGRAL HAS START AND END
VALUES: IN OTHER WORDS THERE IS AN
INTERVAL [A, B].A AND B (CALLED LIMITS,
BOUNDS OR BOUNDARIES) ARE PUT AT THE
BOTTOM AND TOP OF THE "S", LIKE THIS:
 ECONOMIC VARIABLE AND FUNCTION
TOTAL REVENUE TOTAL REVENUE IN ECONOMICS REFERS TO THE TOTAL RECEIPTS FROM SALES OF
A GIVEN QUANTITY OF GOODS OR SERVICES. IT IS THE TOTAL INCOME OF A BUSINESS AND IS
CALCULATED BY MULTIPLYING THE QUANTITY OF GOODS SOLD BY THE PRICE OF THE GOODS. IT
CAN BE WRITTEN AS P*Q, WHICH IS THE PRICE OF THE GOODS MULTIPLIED BY THE QUANTITY OF
THE SOLD GOODS.
A GRAPHICAL REPRESENTATION:
 EXAMPLES
• IF A BLOUSE SOLD FOR $50 TO TWO
CUSTOMERS BEFORE GOING ON SALE FOR
$25 AND SELLS AT THAT PRICE TO AN
ADDITIONAL FIVE CUSTOMERS, THE TOTAL
WOULD BE $50 X 2 + $25 X 5, WHICH COMES
TO $225. YOU WOULD THEN DIVIDE THAT
NUMBER BY THE TOTAL OF SEVEN BLOUSES
SOLD, GIVING AN AVERAGE SELLING PRICE
OF $32.14.
• A BOOKSTORE SELLS 100 CHILDREN STORY
BOOK FOR $10 EACH. IF YOU WERE TO
CALCULATE THE AMOUNT REALIZED BY THE
BOOKSTORE, THE ANSWER IS SIMPLE USING
THE FORMULA:P*Q=100*10 =$1000 THIS IS
THE TOTAL REVENUE FOR THE BOOKSTORE.