SUCCEED WITH MATH:
Every Student's Guide to Conquering Math Anxiety
Chapter 9. Economics and Business:
Planning for Profits
Adam Smith was the first modern economist. While he did not use a mathematical approach to the subject, his insights led thinkers after him to reconsider the meaning of "wealth." Smith lived during the late eighteenth century, just after the period when Spain, Portugal, England, and Holland had completed their exploitation of the New World. He noticed and was the first to explain why the tremendous wealth that Spain had gained from the shiploads of gold, furs, and silver that came from the Americas had been lost within 150 years, while England, which had concentrated instead on colonizing the New World, was getting richer all the time.
The difference between England's and Spain's economies was that England had put the wealth received from the New World to work and in so doing had multiplied its value many times over. Money stored in warehouses wasn't put to use, Smith said, but money invested in active trade and manufacturing was.
A good strategy for a student who wants a career in business is
to take courses in "finite mathematics," calculus, quantitative
methods, statistics, probability, and computer programming. With these skills and a general familiarity with the power of
mathematical applications, you will be very well prepared to think
precisely and creatively...
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