Submit a Manuscript to the Journal

# American Journal of Mathematical and Management Sciences

For a Special Issue on

## Applications of Mathematical Programming in Finance and Economics

####
Manuscript deadline

**30 January 2025**

### Special Issue Editor(s)

**Dr. Irfan Ali**,
*Department of Statistics and Operations Research, Aligarh Muslim University, Aligarh-202002, India*

[email protected]

**Dr. Umar Muhammad Modibbo**,
*Department of Operations Research, Modibbo Adama University, Nigeria*

[email protected]

**Dr. Fariba Goodarzian**,
*Edinburgh Business School (EBS) and School of Social Sciences, Heriot-Watt University, United Kingdom*

[email protected]

**Dr. Alireza Goli**,
*Department of Industrial Engineering, University of Isfahan, Iran*

[email protected]

## Applications of Mathematical Programming in Finance and Economics

**APPLICATIONS OF MATHEMATICAL PROGRAMMING IN FINANCE AND ECONOMICS**

Risk management represents one use case for financial mathematics. Professionals can detect and manage financial risks by using this method. Mathematics is a tool that financial analysts frequently use to evaluate market data, identify trends in data, and forecast hazards. Businesses base their investment, manufacturing, and pricing decisions on mathematical ideas like statistics and probability. Businesses can boost profitability by making better judgments by grasping and using these concepts. In business, mathematics is also used to interpret and evaluate data. By entering assumed values for the variables in the equations and finding solutions for the unknowns, mathematical programming is used to calculate economic development, arrange manufacturing schedules, organize transportation, and handle military logistics. A lot of people use computers to find solutions. Graduate coursework in economics is heavily mathematical, despite the fact that admittance standards for economics graduate programs differ.

Applications with advanced calculus, differential equations, linear algebra, and a foundation in probability theory are often required by most PhD programs in economics. The fundamental goal of mathematics in economics and business is to analyze business problems, identify solutions, and manage the difficulties so that they don't recur in the future and, in the event that they do, the damages are kept to a minimum. The only courses required for an undergraduate finance degree are algebra, statistics, and possibly calculus. The majority of the obligatory mathematics courses, which may be called "business statistics" or "calculus for business," are designed especially for business students. Accounting incorporates some basic mathematics, such as a working grasp of arithmetic and a little bit of basic algebra. Although accounting information consists of numerical data, finishing the preparatory accounting course successfully depends on accounting expertise. Among the fields in which mathematical knowledge is most frequently used in the modern world are engineering, banking, and business. Mathematical proficiency is useful in business for calculating financial statements and ratios, data analysis, and trend prediction. Calculus is used in economics to understand and record complex data, most frequently on graphs and curves. Calculus offers a simple method for calculating marginal cost and marginal revenue, which makes it possible to determine a maximal profit. It can also be applied to supply studies. Economic theory, mathematical economics, economic statistics, and mathematical statistics are all combined to form econometrics.

Mathematical Economics' primary goal is to represent economic theory in mathematical form, or equations, without considering the theory's empirical verifiability or measurability. Economics uses both arithmetic and statistics, but not to an overwhelming extent at the undergraduate degree level. One statistics course and one mathematics course, often an intermediate calculus course is typically required of economics majors. Economics and mathematics are complementary fields of study. The majority of fields in contemporary economics make heavy use of statistics and mathematics, and economic issues have served as inspiration for some significant areas of mathematical study. Mathematicians and economists have greatly benefited from each other's contributions to their fields.

**POTENTIAL TOPICS INCLUDE BUT ARE NOT LIMITED TO THE FOLLOWING:**

- Financial and economic modelling using mathematical techniques.
- Applications of computer programming in curriculum design.
- Application of programming mathematics to business optimization.
- Financial administration applications of goal management.
- Game theory and programming mathematics as tools for making decisions.
- Project management using financial goals and mathematical programming.
- Utilizing computer programming and optimization techniques in statistics.
- The efficiency analysis method is based on mathematical programming.
- Optimization issues related to portfolios using mathematical programming models.
- Linkages between mathematics, economics, regional planning, and other fields with mathematical programming.
- The capital asset price model, capital planning for associated projects, and programming in mathematics.
- Linear programming is used to fund pricing and budgeting for money.
- Dairy sanitation optimized for sustainability and economy.

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