Karlheinz Muhr Library

The Complete “Austrian School of Economics” Collection


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Karlheinz Muhr Library
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The archive.

1,549 works, 150 years of economic thought. Each one summarized and searchable, with cited passages inside.

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1–1 of 1 matches · 1,549 works totalPage 1 of 1; every summary opens into its work.
  1. 1946
    Rudimentary Mathematics for Economists and Statisticians

    Rudimentary Mathematics for Economists and Statisticians

    W. L. Crum and Joseph Alois Schumpeter · 35 sections

    Confusion about the calculus, the authors contend, usually springs not from calculus itself but from shaky command of the algebra, geometry, and limits beneath it. Written for beginners rather than as a treatise on mathematical economics, this primer builds from graphing total cost against output toward the ideas an economist must handle to read the published literature: the limit, the derivative, marginal cost and marginal utility as special cases of it, maxima and minima, Lagrange multipliers for constrained cost minimization, Euler's theorem and the exhaustion of product under competition, least-squares regression, and Cramer's rule for market equilibrium. W. L. Crum credits Joseph Schumpeter with the volume's major additions, and the economic example — never abstract rigor for its own sake — governs every step.

    The derivative of $y$ with respect to $x$ is the instantaneous rate of change of $y$ with $x$.