The Mathematics of Economics and Business
The resources in this collection are the result of a project managed by Mathematics for Education and Industry (MEI) and funded by the Clothworkers’ Foundation.
These resources aim to show the importance of mathematics and statistics in economics and business. There are seven areas covered - use of multipliers, statistical modelling, elasticity, compound interest, inflation, student loans, measuring inequality and modelling the market.
Please note that some resources require use of Geogebra software.
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Student Loans: Part Two
From the Integrating Mathematical Problem Solving project by Mathematics in Education and Industry (MEI), this activity shows how changing the assumptions which a model is based on can change the way it behaves. It is important to compare predictions from a model to what we know happens in real life. This unit...
Inflation
From the Integrating Mathematical Problem Solving project by Mathematics in Education and Industry (MEI), this activity for post-16 students shows how regular sampling of a variety of prices is used to get a measure of inflation. There is more than one possible way to do this. A measure of inflation is used to...
Compound Interest
From the Integrating Mathematical Problem Solving project by Mathematics in Education and Industry (MEI), this activity shows how compound interest can be calculated over different intervals. As the intervals get smaller and smaller, the total value approaches a limit. Topic areas covered are:
• Use of...
Measuring Inequalities
From the Integrating Mathematical Problem Solving project by Mathematics in Education and Industry (MEI), this activity shows that income is not equally distributed among all the inhabitants of a country. This can be shown visually using a graph and also measured. The mathematical ideas covered are:
•...
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| Subject(s) | Mathematics |
|---|---|
| Age | 16-19 |
| Published | 2010 to 2019 |
| Published by | |
| Collections | |
| Direct URL | https://www.stem.org.uk/cx5rg |
