User:MatthewRobinson

I'm Matt Robinson and I hope to either major in economics or political science. matt_robinson77@hotmail.com

Renes Descartes was born on March 31st 1956 in La Haye en Touraine a city in France, which would later be named Descartes in honor of “The Father of Modern Philosophy.” Descartes had a huge influence on Western Philosophy and Mathematics and was also a physicist, and writer. He is well known for his famous line in his book Discourse on the Method (1637), “I think therefore I am.” He also influenced mathematics through analytical geometry. Analytical geometry or Cartesian geometry is the study of geometry using a coordinate system and the principals of algebra. Analytical geometry is used to define geometrical shapes in a numerical way and getting numerical information from that representation. Descartes lived most of his life in the Dutch Republic and died at the age of 53 he is still a historical figure for his life work especially in mathematics and philosophy.

Calculus can be applied to many situations in life. The study of basic economics requires the basic understanding of math. Some say that calculus is the language of economics and the means of how economists solve problems. Calculus tends to heavily focus on functions and derivatives. Functions, examine the relationship of more than one variables. Economists also use X and Y to describe variables and try to understand the relationship between the two variables. Derivates explain the rate of change of one variable in accordance with the other. Calculus can be used to find marginal cost, marginal benefit, marginal profit, marginal revenue, while other types of math can be used to find profit, average total cost, revenue etc.

Examples

Total Revenue Calculus can explain the total amount of revenue received by a company based on the number of goods sold.

Marginal Revenue Using calculus, it is easy to see the marginal revenue of items sold. Marginal revenue is the additional revenue received for selling one additional good.

Maximizing Profits The goal of every company is to maximize its profitability. With the use of calculus, the company can find the most efficient point of producing and selling its goods.

Equilibrium Finding the equilibrium, or the point where supply and demand meet, is an essential part of analyzing the markets and can be easily found with the use of calculus.

Interest Rates Interest rates for a number of things, including mortgages, loans and advances, can be easily calculated with the help of calculus

Economists tend to use straight lines in their graphs to help simplify the information or problem, but with an advanced knowledge of calculus one may be able to make a more accurate graph by not just using a linear graph but a curved graph which better represents the information it is trying to give. With a better understanding of functions this would be possible.