Mathematical Economics VS Real Analysis and Prerequisites

[TJL]

Hey guys,

Just wondering if anyone here has/is also debating between the difference between the two? I've been told by many seniors that math breadths are important to do if I am thinking of doing an honours. Hence I was pretty much ready to spend my breadths on Calc 2, Linear Algebra and Real Analysis.

But I just looked at this subject called mathematical economics and it feels like it might have everything that I might possibly need. Any one has experience of the pros and cons of either? Or even just more recent reviews would be greatly appreciated.

Thanks heaps!

[stolenclay]

I hear all the time that the reason Real Analysis is recommended for students hoping to do an Honours year in Economics is for the exposure to mathematical proof. I know that one of the Honours econometrics subjects (I think it was ECOM40006) is very proof heavy, so I can see why they recommend Real Analysis.

At an undergrad level, only maths subject would ever require students to be capable of a decent amount of proof (more specifically, proofs that haven't been completely spelled out on a lecture slide somewhere). I don't think Mathematical Economics will provide the exposure to mathematical proof that you would want going into Honours in Economics; it looks to be mostly about computational tools that can be used in various areas of economics and econometrics.

[abab]

I'm a bcom student majoring in economics, and spent my breadths on Calc 2, Lin Alg and Real Analysis. I found them interesting/engaging enough to decide to complete a maths diploma. For me, the maths subjects I took were more demanding and difficult than my commerce subjects. But I also found they made commerce subjects easier. As you progress through your degree, economics subjects become more quantitative, and the problem solving skills and mathematical tools you pick up in maths subjects are beneficial.

Mathematical Economics seems to look at certain parts of Calc 2, Lin Alg, Vector Calculus and Operations Research as applied to economic problems. Economic applications are something you will mostly miss out on in maths subjects (though once you have the mathematical tools it shouldn't be too difficult to apply them to economic problems). But as stolenclay says above, Mathematical Economics does not seem to cover Real Analysis, and it is the skills from this subject that appear to be particularly useful for honours.

Pm me if you'd like to see last year's syllabus for Mathematical Economics.