MATHEMATICAL ECONOMICS AND ECONOMIC RELATIONS IN TERMS OF EQUATIONS
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Abstract
This study explores the critical role of mathematical modeling in economic theory by analyzing the structure, classification, and application of economic equations in mathematical economics. Despite the growing integration of quantitative approaches in economics, there remains a knowledge gap regarding the systematic use of behavioral, definitional, and technical equations to model complex economic phenomena. This research employs a qualitative, theory-driven methodology, synthesizing classical and modern economic models such as consumption functions and the Cobb-Douglas production function. The findings reveal that mathematical models—ranging from linear and nonlinear to logarithmic and exponential forms—enable the abstraction and simplification of economic relationships, making complex dynamics more analyzable. Results emphasize that the use of mathematical equations enhances the precision and predictive power of economic theories. The implications suggest a deeper alignment between mathematical and econometric methods in policy evaluation, economic forecasting, and structural analysis, reinforcing the foundational role of mathematics in contemporary economic inquiry.
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