Mathematical Models in Economics: Applications of Sequences, Derivatives, and Differential Equations
Neritan Turkeshi
Mother Teresa University, Skopje, North Macedonia.
Ilir Demiri
Mother Teresa University, Skopje, North Macedonia.
Shpetim Rexhepi *
Mother Teresa University, Skopje, North Macedonia.
*Author to whom correspondence should be addressed.
Abstract
This paper examines the application of mathematical tools—numerical sequences, derivatives, and differential equations—that have important uses within economic analyses on population modeling, investment growth, and population cost. Numerical examples shall be used to illustrate how such a mathematical approach helps in financial decision-making and long-term forecasting. It's expected that this work will provide insight into the benefits of mathematical models in addressing complex economic challenges and make a case for interdisciplinary approaches in economics.
Keywords: Sequences, derivatives, differential equations, marginal cost, average cost, GDP