New Features :

• Fully-Updated with the Very Latest in Research : Chiang's Fourth Edition contains many new, innovative examples based on current economics. The text is relevant and appealing to student and professor alike.
• Expanded Applications: Chiang/Wainwright 4 th edition includes expanded applications, especially in Chapters 8 (“ Comparative-Static Analysis of General-Function Models,”) , 11 (“ The Case of More Than One Choice Variable,”) , and 12 (“ Optimization with Equality Constraints,”). These applications allow students to see the relevance of the theory.
• New Chapters Added: The authors have added two new chapters, including one covering the envelope theorem, maximum value function, and duality (13). In part five there is a new chapter on Optimal Control Theory(15). Part 6 (Mathematical Programming) has been deleted and Nonlinear Programming (Chapter 21) has been moved to follow Optimization with Equality Constraints (12).

Retained Features:

• A Classic Text: Chiang literally wrote the book on the subject matter and is one of the most widely-respected Economics texts in the world.
• Elegant Yet Lucid Writing Style: Chiang's strength is the eloquence of the writing and the manner in which it is developed. While the content of the text can be difficult, it is understandable.
• Meshes Sophisticated with the Accessible: Sophisticated material is presented in the text, but not a lot of prior knowledge is assumed. The background needed for the course is there. The combination of depth of material and ease of exposition is the reason that graduate students and faculty alike have kept their copies of Chiang from their undergraduate days.