7. Application of the matrix algebra in the economy

Author: Yuliana Yordanova, Velika Kuneva

DOI: 10.22620/sciworks.2018.01.007


The present research aims at the application of basic linear algebra concepts in the field of economics, more specifically – the linear optimization method. Students are stimulated to search the application character of the basic mathematical concepts in order to facilitate their learning of other applied sciences. By means of the matrix equation, a mathematical theory is developed describing the connections between the economic branches.