Application of Quantitative Software in Economics and Decision Science

Mathematics is often used to facilitate a clear and organized presentation of economic theories and problems. It provides a simplified approach for setting up models, making explicit assumptions about the models, finding optimal solutions, and extending the results by varying the parameters and assumptions of the models. Many economists would agree that a large gain in clarity and economy of effort can be achieved by incorporating mathematics into economic teaching. What limits the use of mathematics in teaching economics is inadequate preparation of students in quantitative methods. In addition, some mathematical manipulations and calculations turn out to be time consuming and tedious for class presentations. This paper argues that both of these problems can be overcome by using modern mathematical software in teaching economics