In this essay we have tried to understand the different applications of mathematics in economics and to analyze their use in everyday life. It was also observed how the study of mathematics and economics could be combined and applied in our lives. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Let me start by saying that I come from a scientific background. So at first I was very scared when I decided to pursue honors in economics. I had studied economics up to 10th standard, but I knew that studying economics at undergraduate level would obviously be totally different and difficult. But when classes started here, I found that economics was about finding and achieving results using mathematical tools. I found that mathematics and economics were very interdependent as one was necessary to complement the other. In my opinion it is impossible to study economics without mathematics. I would like to be honest in this analysis and would like to mention only those applications that I as a science student feel are related to the two broad fields of economics and mathematics. So, mathematics can be applied in economics in the following ways: Addition or integration Integration is adding small units to estimate the larger sum or larger whole. Even in economics, we can see how small or large countries come together so that they can add their power to become a larger coalition altogether. This would benefit both countries regarding economic and political ties. This idea can be applied to any aggregation such as coalition of parties or politicians to gain majority so that they can come to power by winning elections. To differentiate or extract a part We can use the tool of differentiation to break something down into its smallest parts or to distinguish something at a smaller level. When we look at the topic of microeconomics, we can see how the mathematical tool of differentiation is used to find marginal cost, marginal revenue, marginal revenue, etc. To organize a given piece of data Mathematics can be used in economics to collect particular information. We can use the mathematical tool of "matrices" to collect and organize particular data such as the population of a country, the people who work in a company in different departments, boys and girls who study in a class or school. calculations of large values ​​arranged in a particular wayThe mathematical tool of "determinants" can be used to calculate values ​​arranged in a particular way. For example, if we know the total number of resources available and people misusing a specific type of resource, we can tabulate the results and find out how long our resources would last, people in the bank can use the mathematical tool of " determinants” to calculate the total amount of money that people have deposited into different accounts. Helps in proper systematic study Mathematics makes studying economics easier and allows students to have a more systematic approach. Statistics is a very powerful mathematical tool that can allow us to interpret important data more efficiently. Statistics allow us to clearly understand a piece of data. For example, if we want to check which commodity is trending and mint money in an economy, we can use statistics to find the majority since the one with the maximum value will have the highest bar in the graph taken. It helps us to find the relationship of something over anotherWe can take the help of/30472